These Are the Five European Banks in Focus on Lira: Street Wrap

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European banks drop for a second day, particularly those with exposure to Turkey, as the lira slumps for a fourth day to a record low. Analysts see four to five banks most exposed and expect capital ratio pressure and negative P&L translation from bond portfolios and FX effects. No impact on funding yet, though liquidity constraints and debt haircuts could ensue if the situation worsens.

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