News

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