DEBT FINANCING. Bove sees no threat of Europe standard in u.s. banks

No "> (Reuters)-Rochdale securities analyst Richard Bove said fears of a possible impact of a European debt crisis on American banks were exaggerated, with only the Citigroup (C, N) and JP Morgan Chase (JPM.N) have significant exposure to the crisis.
"Assuming some developments for the worst cases, it seems that Citigroup and JP Morgan Chase are at risk for developments in Europe. No other American institution is, "Bove wrote in a note.
Citing the filings of international financial Statistics Yearbook, released by the International Monetary Fund for the year 2010, Bove said that Citigroup runs the greatest risk with exposure of $ 12.3 billion in $ 10.8 billion in Italy and Spain.
JP Morgan Chase runs the risk of write-downs on US $ 18.8 billion it lent to Ireland, 12.2 billion for Italy and Spain for $ 12 billion, according to the records.
The brokerage ruled out any risk of exposure is limited to the Goldman Sachs (GS.N) or Morgan Stanley (MS.N) and called the amount of exhibition "not significant".
Richard Bove "falls in stock prices database based on fears in this area (due to fear of the financial crisis in Europe) seem to be significantly exaggerated," he said.

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