List of Greek debt held by big European banks and insurers

(PARIS) - Leading European banks and insurance companies held the following amounts of Greek debt on the basis of data, provided by the institutions themselves and valid at the end of September, except where indicated with an asterisk.

The private institutions have agreed to write off 107 billion euros ($142 billion) of the 200 billion euros in Greek debt bonds in their balance sheets. A large amount of Greek debt is in the hands of private Greek bondholders.

Many private institutions have already made provisions of at least 55 percent against the value of the Greek debt they hold, with the latest writedowns occurring in the year-end accounts for 2011.

The total cost of the writedown eventually announced by banks may appear substantially higher because they calculate their total losses to include lost earnings in the lifetime of the debt.

These figures indicate the concerns in the last two years of the potential damage of Greek debt to some European banks, a danger now considered to be much reduced.

GREECE

   NBG                         8.7 billion euros
   Piraeus Bank                7.7 billion euros
   Eurobank                    6.9 billion euros
   Alpha Bank                  3.1 billion euros

FRANCE

   BNP Paribas**                1.6 billion euros
   Societe Generale             800 million euros
   BPCE                         535 million euros
   Credit Agricole**            173 million euros

   Groupama*                    540 million euros
   Covea*                       520 million euros
   AXA*                         300 million euros
   CNP Assurances*               62 million euros
   Macif*                        58 million euros

GERMANY

   Commerzbank                  1.4 billion euros
   Deutsche Bank****            448 million euros

   Allianz                      500 million euros
   Munich Re****                400 million euros

BELGIUM

   Dexia                       1.3 billion euros

ITALY

   Intesa Sanpaolo             586 million euros
   UniCredit                   221 million euros
   Mediobanca                  200 million euros

   Generali Group              200 million euros
   Fondiaria-Sai                34.7 million euros
   Unipol                       17 million euros

UNITED KINGDOM

   RBS****                     822 million euros
   HSBC****                    371 million euros
   Barclays****                 45 million euros

   Aviva***                    120 million euros

NETHERLANDS

   ING****                     300 million euros

AUSTRIA

   OVAG (Volksbank)             60 million euros
   Erste Group**                13.1 million euros 

   Uniqa                       174 million euros
   Vienna Insurance Group****   9.7 million euros

SWITZERLAND

   Credit Suisse                 83 million euros
   UBS                           53 million euros

* End of June 2011

** End of October 2011

*** Beginning of November 2011

**** End of December 2011