And Now The Fed Is Getting "Very Concerned" About The Funding Situation For European Banks

This WSJ report is getting a lot of talk today: The New York Federal Reserve is meeting regularly with European banks to make sure that they have adequate cash and short-term funding amid the crisis.

Officials are said to be “very concerned” on the matter.

In itself it’s not surprising that the Fed would be concerned like this: If anything it feels a little late, given that the European sovereign debt crisis has been going on since late 2009, and since it’s been known since the beginning that the crisis could put the banks at risk.

As we noted here, European banks are getting hammered today.

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