Corrected: Société Générale Highly Leveraged

France’s No. 2 bank, Société Générale, has a high leverage rate of 28:1 according to internal numbers, and 23:1 according to US GAAP netting conventions . This article has been corrected after receiving information from Société Générale.

Also BNP Paribas isn’t far behind. These new calculations provide serious reasons to worry.

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