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09.28.2011 / FLASH

Crédit Agricole: adapting to the new environment

Changes in the operating environment
Initiatives to boost liquidity already paying off
Short-term debt down from €170bn at 30 June 2011 to €145bn at 14 September 2011
Withdrawal from money-market funds deftly dealt with
Secure medium- and long-term refinancing
Objectives for adapting to the new environment:
€50bn structural reduction in debt between June 2011 and December 2012
€12bn of medium- and long-term financing to be raised in the markets in 2012, down from €22bn in 2011
Our plan of action
Corporate and Investment Banking: €15-18bn reduction in financing requirements
Specialised Financial Services: €9-11bn reduction in financing requirements
French and International Retail Banking: €21-23bn reduction in financing requirements
Liquidity reserves
More than €110bn of available liquidity reserves
Large base of high-quality assets available for securitisation
Limited and manageable exposure to peripheral eurozone countries
Our advantages: a resilient business model and the strength of the Crédit Agricole group