Tue, 26 Aug 2014 12:53:04 GMT
European banks' trillion Dollar yard sale
The biggest European banks are putting trillion dollar worth bad assets for sale, as tougher capital requirement rules limit banks from issuing new loans. According to experts, toxic assets such as loans and under-performing operations climbed by 65% surpassing the $1.7 trillion mark. Furthermore, banks have already sold loans backed up by property for over $50 billion in the six