french banks

Bank lending rates continued to ease Tuesday amid talk of a second economic stimulus package in the United States and news of a $14 billion plan to inject liquidity into French banks.

Credit Agricole considers a 5.9bn-euro rights issue while Societe Generale announces a 23% fall in profits.

French banks are circling their wounded competitor, Societe Generale, eyeing it for a possible purchase.

SocGen is still convulsing from allegations that a rogue trader cost the bank more than $7 billion.

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