“The bankers made errors”

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“It should be recognized: we have made errors. We already learned the lessons from them”. In a maintenance with the Sunday newspaper, dated October 26, Georges Pauget, president of the French banking Federation and Agricultural credit, recognize that the French banks “étéimpactées by the crisis of the subprimes born in the United States. It agissaitde produced very sophisticated, profiting from excellent notations in the context of the time. There was a bad evaluation of the risk”, continues it. “The French banks are solid”, ensures it however.

“All the banks reinforced their investments in lamaîtrise risks. But it takes eighteen months for two years for detels building sites”, explains it.

In Europe and in the United States, where rescue plans were implemented, “we see finally the first positive signals: tauxbaissent, the liquidity returns, confidence also”, is pleased Georges Pauget. “The return to the normal will be inevitably very progressive, but the situation is being released”, ensures it, evoking a “remarkable” device of French crisis management. It stresses that “the question of a nationalization did not arise” in France contrary to Great Britain or Iceland.

THE APPLICATION FOR CREDIT IN FALL

Monday, the Company of acquisition of a holding of the State, controlled with 100%par the State, injected 10,5 billion euros to the profit of six banks. Second pillar of the French support plan, the Company of financementde the economy announced Friday that it would provide soon 5milliards euros of liquidities to seven banks.

Questioned on the situation of Crédit Agricole, he considers the group “particularly solid and armed vis-a-vis the crisis”. “Lessubprimes led us to fund six billion euros dansnos accounts. At the beginning of 2007, this activity, which accounted for only 1% denotre turnover, was stopped. Half of our chiffred' businesses and our benefit come from the bank from detail”, adds it.

In addition, Mr. Pauget affirms that the application for credit knows a stagnation even a fall on behalf of the private individuals in France. “The decrease in the demand is very strong on the real estate credits and stagnates on the consumer credits”, indicates it. “That started in spring. At the beginning of year, the French still picked in their saving to consume. The households quickly react hyper”, according to Mr. Pauget. “Already, on the real estate credits, deceleration slows down. That could be stabilized”, specifies it however. For SME, the president of the FBF proposes “to publish each month, from September 30, 2008, the detail of the granted appropriations”.

( Finance Information City )