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  • Wednesday, December 28, 2011, 10:22 AM Financials (XLF -0.8%) slip in early trading, particularly large European banks such as Deutsche Bank (DB -3.2%) and Royal Bank of Scotland (RBS -2.7%). The news that European banks left record overnight deposits with the ECB indicates an unwillingness to lend to each other, overshadowing the successful Italian bond auctions. BAC -2.3%, C -1.4%.
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    While the ECB loan window remains open, there's no interbank loan demand because the ECB offers lower rates. One will have no genuine idea whether banks would loan to each other until such time as cheaper funds are not available from ECB.
    28 Dec 2011, 10:32 AM Reply Like
  •  
    Unless they know more than we do about the real state of things...
    28 Dec 2011, 10:37 AM Reply Like
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