Banks may face bigger Greek bond hit

Banks may face bigger Greek bond hit -Deutsche Bank Reuters
European banks may face a bigger-than-expected hit from an internationally agreed swap arrangement on Greek government debt, Deutsche Bank (DBKGn.DE) said on Friday.
Private sector creditors agreed in July to take a 21 percent loss on Greek bonds maturing before 2020, but the loss is more likely to be 25 percent or more, said Charlotte Jones, in charge of group controlling at Germany's biggest lender.