FX Week

Threat Of S&P Downgrade Adds To Finnish Bank Markka Concerns


Standard & Poor's Corp. has placed five Finnish banks on its CreditWatch list with negative implications, citing the weak Finnish economy and problems in the banking sector as grounds for the move. Traders at several of the New York branches of the Finnish banks say any possible downgrade could dry up already dwindling volumes in the Finnish markka during the New York trading session.

Of the five banks named--Kansallis-Osake-Pankki (KOP), Union Bank of Finland Ltd. (UBF), Saastopankkien Kesku