Six French banks to sue the ECB to reduce capital demands
Reuters noting that BNPP, SocGen and Credit Agricole are part of a six bank team suing the ECB over their objection to capital demands against state banks.
They are after an exemption from having to hold capital against deposits sitting in a state owned fund, Caisse des Depots et Consignations.
The banks are taking their case to the European Court of Justice.
The banks have been squeezed on regulations and capital buffers after the crisis but it looks like they are now fighting back.
