According to the European Banking Authority (EBA), the largest bank exposure to sovereign debt is listed below.

Bank Country Value of Sovereign Debt (In Billions)

Intesa Sanpaolo Italy $ 59.20

BBVA Spain $ 58.10

Unicredit Italy $ 50.10

Santander Spain $ 45.90

BNP Paribas France $ 35.50

Dexia Belgium $ 21.80

Commerzbank Germany $ 17.30

Credit Agricole France $ 14.80

HRE Holding Germany $ 11.10

Barclays Great Britain $ 10.10

Deutsche Bank Germany $ 9.50

As sovereign debt becomes a further strain on European bank balance sheets as interest rates climb, the ECB as already provided around $1 trillion dollars from the LTRO.  However, it looks like the money borrowed from the ECB will be used to pay off bank debt maturing this year.