European banks in continued retreat

European banks have been pulling their exposure to the US as regulation, bad debt and credit risk aversion all force them out of the game.

By Daniel Flatt

Jul 23, 2012

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European banks are heading for the exits, having been compelled to slash exposure to the US by approximately US$500 billion (roughly the value of Apple, curiously) from a high of $1.5 trillion in 2007, according to analysis of Federal Reserve data conducted by the Financial Times.

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