U.S. banks have no significant exposure to European sovereign debt, FDIC's Sheila Bair says, and...

|By:, SA News Editor

U.S. banks have no significant exposure to European sovereign debt, FDIC's Sheila Bair says, and U.S. economic recovery should not be affected. Lenders from the U.S. were owed $17B in Greece at the end of 2009, data from the Bank for International Settlements showed, while French and German banks were owed $120B.