Nordic Banks Benefit From Currency Floats Despite Loss-Induced Credit-Line Problems
BANKS
The huge financial problems of the banks in Norway, Sweden and Finland this year have now been capped by a round of devaluations in their currencies--a scenario that one might think would bring disaster for Nordic banks' foreign exchange trading rooms. But in a perverse way, the turbulence in their currencies may have helped the Nordic banks stave off what otherwise might well have been a serious decline in their interbank business, say forex executives surveyed.
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