While still suffering from massive losses and write-downs, banks throughout Europe and the U.S. will have to pay off billions of dollars in debt that will be due within the next year. Banks used floating-rate notes to borrow money, and about $95 billion in those notes start maturing next month. "It's going to be a bigger problem now than it was in the first half of this year, but it's going to continue on for probably at least a nine-month period," said Guy Stear, a credit strategist at Societe Generale.

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