Bank of France: Watching Closely Impact of Brexit on Financial Markets
June 24 2016 - 1:52PM
Dow Jones News
.
By William Horobin
PARIS--The Bank of France said Friday it is watching closely
financial markets after sharp declines on the U.K. vote to leave
the European Union.
Shares in French banks and insurers recorded some of the
steepest losses on Paris markets Friday. Societe Generale shares
closed down over 20% on the day, BNP Paribas 17.4% and Axa
15.5%.
"We are closely following the impact on the functioning of
financial markets and their stability," the Bank of France
said.
In an attempt to reassure investors, the central bank added that
French banks and insurance companies are "very solid thanks to
their performance and financial structures."
As a part the European Central Bank and the Group of Seven, the
Bank of France is ready to respond to any liquidity needs in euros
or foreign currencies, the Bank of France also said.
"We are fully mobilized and determined: the euro is the stable
currency that is shared by 340 million Europeans," the Bank of
France said.
Write to William Horobin at William.Horobin@wsj.com
(END) Dow Jones Newswires
June 24, 2016 13:37 ET (17:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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