Shares in all three French banks have fallen amid fears over their exposure to Greek debt. STORY HIGHLIGHTSMoody's downgrades credit ratings on Crédit Agricole and Société GénéraleFears grow over French banks' exposure to Greek debt, leading to swings in share pricesBNP also says it plans to sell €70bn ($95.7bn) of risk-weighted assets (FT) -- Moody's has downgraded its credit ratings on Crédit Agricole and Société Générale and kept France's biggest bank BNP Paribas on review for a downgrade. The decision on Wednesday follows days of uncertainty surrounding French banks' exposure to Greek sovereign debt, which has led to violent swings in their share prices. French officials have resisted pressure to shore up their besieged banking sector as senior eurozone officials instead increased efforts to avert a Greek default. Christian Noyer, governor of France's central bank, insisted on Wednesday that the country's banks had enough capital to withstand any losses from a Greek default and said the downgrades of Crédit Agricole and Société Générale were "relatively good news". "French banks have an excellent rating, the same level as other major European banks, HSBC, Barclays, Deutsche Bank, Credit Suisse. There's no really bad news on the way, and Moody's says the level of capital of French banks allows them to absorb any potential losses on sovereign debt," he told RTL radio. "It's a very small downgrade, and Moody's had a higher rating than the other agencies so it's just put them on the same level or slightly better than the others."
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