18.08.2011 - 17:30 [ Expatica ]

Eurozone bank borrows $500 mln from the ECB

A single eurozone bank has borrowed $500 million (350 million euros) from the European Central Bank for a week in what could be evidence of rising tensions on interbank lending markets.

…As to why SocGen should suffer worse than fellow European banks with trans-Atlantic ties, traders said the bank was still seen as weakened by shortcomings exposed in the Jerome Kerviel rogue trader scandal.