The Only Chart You Will Need To Trade Russian Sanctions

US and European financials faded notably after Europe and then US unveiled new sanctions against Russia today. Most notably, the decision to sanction Russia’s largest banks (and ban trading and capital markets access) has ramifications for the global financial system’s stability given the increasingly inter-connected nature of the world. For that reason, we thought Bloomberg Briefs’ chart of the most exposed banking systems by nation to any systemic issues in Russia would be useful.

 

As Maxime Sbaihi reports,

About 74 percent of foreign banks’ claims on Russia originated from Europe in the first quarter, according to the Bank for International Settlements.

French banks had the most claims ($47 billion), followed by the U.S. ($27 billion) and Italy ($26 billion).

Italian banks appeared to be the most exposed in the percentage of the country’s total foreign claims, of those reporting data.

Source: Bloomberg Briefs

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With Europe set to wake up to Portugal banking system imploding after BES headlines late today, we are sure Italy’s and France’s banks can handle the additional risk-off…