European banks are still lumbered with around â¬70bn ($111bn) worth of leveraged loans they agreed to underwrite but failed to sell last year as some of the large commercial banks hold out for a rebound in depressed loan prices, according to a new report.
In a note to clients yesterday, Credit Suisse analysts said banks in the US have been far better at clearing the overall backlog of leveraged dollar denominated debt, having reduced the $250bn (â¬157.8bn) pile that stood last July to close to $118bn this month.
