CIF may have received €2 Billion before the French Government rescue

According to Reteurs, the Crédit Immobilier de France, specialized in French mortgages, may have received an emergency fund of more than €2 Billion before that the French Government had decided to give its guarantee. “When CIF ran into problems earlier this year it was forced to use the central bank system” one close to the matter said. Later a second source has acknowledged the information but did not give any figure for the amount of credit that had been given to the CIF.

CIF and The Bank of France did not make any comments.