Tuesday, October 21, 2008

Breaking News-RTRS-UPDATE 2-France to lend 10.5 bln euros to top six banks

PARIS, Oct 20 (Reuters) - The French state will lend 10.5 billion euros ($14.12 billion) to the country's top six banks before year-end to prop up their capital reserves, Economy Minister Christine Lagarde said on Monday.
President Nicolas Sarkozy last week said the government had earmarked 360 billion euros as part of an international effort to help banks survive the worst financial crisis since the Great Depression 80 years ago.