EFTA02444497Set 11
2010-05-067p2,468w
banks have a disproportionately high exposure to
German bunds and low exposure to the PIIGS bonds. But even with our
conservative assumption, we find that it is possible that global ... central banks
have close to a third of their EUR holdings in PIIGS bonds, and possibly 5%
(about USD140 billion) or so in Greek and Portuguese bonds. A 30% haircut ... PIIGS Total
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02444497.pdf