The international financial crisis reached a new level in September 2008 with the collapse of Lehman Brothers and the resulting wave of widespread mistrust in bank signatures. In a few short weeks, the international banking landscape was transformed with the collapse of several institutions in the United States and many banks in a number of European countries either merging or being nationalised.
This crisis of confidence led to financial market paralysis despite the actions taken by central banks. This is why, as was the case to some extent throughout the world, in mid-October European Union governments decided to implement concerted measures, adapted in each country, in order to guarantee confidence in its banking and financial system and ensure the sound financing of its economy.
The French plan follows this strategy by providing banks with the medium-term funds and the equity capital required to continue their lending activity. Banks have committed to an annual increase in overall outstanding loans of 3% to 4% at end-2009, which constitutes a major effort against a difficult economic backdrop, and therefore a backdrop of weakening demand, particularly among individuals.
1. The international financial crisis
2. Finance and banking in Europe
3. Banks and their customers
4. Payment instruments
5. Banking industry highlights
6. The French Banking Federation
Management report FBF 2008