Bank Runs 2011 Continues in France, Spreads to China

My friend blbl forwarded me a couple of interesting reports, in French, which I have translated using Google Translate (so please bear with the quality of the translation).

The first one is showing that a major corporation, the biggest oil producer in the country, has been withdrawing funds from the banks:

Total reduced the number of banks in which it deposits funds for fear of a credit crunch in the euro area, but remains confident in the French settlements, said Monday its chief financial officer at the agency Dow Jones and Wall Street Journal.

"We have reduced our exposure to banks by reducing the amounts that we file, the number of banks that we use and duration of deposits," said Patrick de La Chevardière the sidelines of a day devoted to investors in London.

The group, which manages about 20 billion euros of money available, runs its funds more quickly than before and instead of depositing money for a week or a month, prefers the day. He now uses a little over ten banks, without specifying how many schools he previously used.

The second one is about a massive fund withdrawals facing Chinese banks:

The four major Chinese commercial banks are losing large amounts of deposits so that high inflation and low interest rates encourage investors to entrust their funds to individuals or private companies, reported Thursday the official press.

Deposits of the Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China and Agricultural Bank of China (ABC) have shrunk from 420 billion yuan (48, 6 billion euros) during the first 15 days of September, according to Zhongguo Zhengjuan Bao (Journal of the securities of China).