US banks brace for possible eurozone collapse
The newspaper mentioned the banks’ plummeting loan transactions in the eurozone countries.
According to the Financial Times, the banks plan to make some amendments to their credit contracts so they can be in line with London’s financial legislation, a step that they say will help them protect their investments in case of a potential collapse of the eurozone.
Meanwhile, Royal Dutch Shell has announced the withdrawal of some of its funds from European banks. The Anglo-Dutch oil major signaled its readiness to deposit 15 billion of cash in non-European assets, such as US Treasuries and US bank accounts.