If the economic recovery is to be sustained, financial institutions might need to start tapping the bond market in much the same way the corporate sector did last year, writes Richard Barley of The Wall Street Journal. The International Monetary Fund estimated that banks in the U.K., Europe and the U.S. have $1.5 trillion in debt that will mature by 2012. If banks are not able to smoothly refinance this debt, another credit crunch could develop, Barley writes. However, early indications suggest it might be less of a problem than previously feared.
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