SOURCE: The Bedford Report

The Bedford Report

December 03, 2010 11:25 ET

Foreign Banks Mounting a Comeback

The Bedford Report Provides Analyst Research on First Bancorp & Lloyds Banking Group

NEW YORK, NY--(Marketwire - December 3, 2010) - After plummeting in November, shares of Foreign Banks have been mounting a steady comeback this week. European debt fears have at least partially waned as the European Central Bank signaled that it could take new steps to prevent the market contagion by buying more bonds of crisis-stricken countries. The key issue for Europe going forward appears to be whether it can prevent a country as large as Spain from requiring assistance. Spanish borrowing costs rose sharply as the Irish crisis took hold, with the 10-year yield seen at 4.73% compared to less than 4% in early October. The Bedford Report examines the outlook for companies in the Foreign Banking Sector and provides research reports on First Bancorp (NYSE: FBP) and Lloyd's Banking Group PLC (NYSE: LYG). Access to the full company reports can be found at:

Recent data released from the Federal Reserve suggests that the level of financial distress in Europe during the financial crisis may have been more severe than previously thought. British banks were among the recipients, and borrowed more than a trillion US dollars, while Swiss-based UBS alone borrowed a total of $74.5B, though UBS said its use of the Fed was "relatively modest" given its presence in the US.

The Bedford Report releases regular market updates on the Foreign Banking Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at and get exclusive access to our numerous analyst reports and industry newsletters.

While Foreign Regional banks such as Popular and First Bancorp still owe significant amounts in TARP money, the company's stocks did not struggle like most foreign banks last month. First Bancorp has increased its sales of problem loans, selling $60.6 million in construction loans in Florida during the third quarter.

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