Christiana Bank Carries On In FX Despite Insolvency
BANKS
Christiana Bank was able to continue trading with most of its interbank counterparties despite a declaration that the bank was technically insolvent on October 14, according to London chief dealer Neil Oddy. The Norwegian government intervened to prop up the bank, guaranteeing its transactions, which reassured most of Christiana's counterparties, says Oddy. "We have quite a few friends around in London, a lot of longstanding relationships," he says.
After some initial hesitation on Monday when
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