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.
Read the rest of the article Corrected: Société Générale Highly Leverged
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