Market Currents
Wells Fargo (WFC) has agreed to buy an energy loan portfolio with a face value of $11B from BNP...
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Tuesday, February 21, 2012, 4:30 PM ETWells Fargo (WFC) has agreed to buy an energy loan portfolio with a face value of $11B from BNP Paribas (BNOBF.PK). Only $4B of the loans have thus far been drawn by borrowers. The deal is part of a broader effort by BNP to reduce its balance sheet by ~10% by year's end. Many other European banks are also conducting asset sales.(previously)
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