Russian officials, armed with the third largest forex reserves in the world, are trying to project an image of self-confidence.

Russian officials, armed with the third largest forex reserves in the world, are trying to project an image of self-confidence. They are bla...

State-owned Development Bank, also known as VEB, has been entrusted by the Kremlin to distribute a $50 billion rescue package

Russian billionaires became fabulously rich in the 1990s during the so-called loan-for-shares schemes when they lent money to the state and ...

American Express will notify its card members in the coming weeks that it will initiate a broad-based interest rate hike.

Big-name credit card issuers, including Bank of America, Chase and American Express, are shrinking -- not raising -- some credit limits. And...

European Central Bank's lending to financial institutions surged to a record as it pumped extra cash into the banking system

European Central Bank's lending to financial institutions surged to a record as it pumped extra cash into the banking system to ease a f...

Banks continued to queue up for state aid. In Austria, Erste Group Bank said it will be getting a 2.7 billion euro ($3.4 billion) equity injection

Banks continued to queue up for state aid. In Austria, Erste Group Bank said it will be getting a 2.7 billion euro ($3.4 billion) equity inj...

Bursting of the biggest credit bubble in world history is battering emerging-market powerhouses that only months ago were seen as pillars

Bursting of the biggest credit bubble in world history is battering emerging-market powerhouses that only months ago were seen as pillars of...

Metals magnate Oleg Deripaska to pay off a loan to a group of Western banks

National development bank VEB announced Wednesday that it had approved nearly $10 billion in government bailout credits to Russian companies...

Citigroup and Credit Suisse are so damaged by the financial crisis, it seems, that they've given up underwriting loans to their biggest clients

Citigroup and Credit Suisse are so damaged by the financial crisis, it seems, that they've given up underwriting loans to their biggest ...

U.S. dollar has slid as investors grow more willing to take risks and buy stocks, easing demand for the currency as a safe haven.

U.S. dollar has slid as investors grow more willing to take risks and buy stocks, easing demand for the currency as a safe haven.The dollar ...

Norges Bank, which cut interest rates by 50 basis points on Wednesday to 4.75 percent, has been injecting hefty doses of liquidity

Liquidity management has grabbed the lead role from interest rate policy internationally as central banks grapple with the global financial ...

Barclays shunted hundreds of millions of dollars of toxic mortgage assets into two secretive investment vehicles according to a lawsuit

Barclays shunted hundreds of millions of dollars of toxic mortgage assets into two secretive investment vehicles that it had created itself....

British Bankers’ Association, the industry group, said “commercial realities” made it “inevitable that some businesses will not survive” the recession

British Bankers’ Association, the industry group, said “commercial realities” made it “inevitable that some businesses will not survive” the...

Half of Russian hedge funds could go out of business as the financial crisis sends investors fleeing and the stock market continues to fall

Half of Russian hedge funds could go out of business as the financial crisis sends investors fleeing and the stock market continues to fall,...

Iceland's central bank chief, recently estimated that foreign creditors would "unfortunately only get 5, 10, 15% of their claims"

German Banks Now Face Big Losses From Their Misadventures in Iceland WSJ German banks have bled billions of euros in the U.S. subprime-mortg...

Main Street Bank of Northville, Michigan bank failed two weeks ago, it had $98 in assets

Main Street Bank of Northville, Michigan. Billed as a "hometown bank", it opened for business in 2004. When the bank failed two w...

crisis in Maine is tied directly to the collapse of Icelandic banks

Maine lobster industry is reeling from a collapse in demand, and subsequent collapse in the market prices, for the deep-sea crustacean. Whil...

Squeezed banks and investment firms are borrowing from the Fed because they can’t get money elsewhere.

Banks borrowed in record amounts from the Federal Reserve’s emergency lending facility over the past week, while investment banks drew loans...

George Bush has defied the leaders of Europe collapse of the US lending markets has cascaded around the globe

George Bush has defied the leaders of Europe, instead calling a G20 summit in Washington for November 15 - the first of several meetings to ...

Bank depositors in the United States are all financially protected against bank failure because the government insures all individuals' bank deposits.

Bank depositors in the United States are all financially protected against bank failure because the government insures all individuals' ...

Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool

Indian Prime Minister Manmohan Singh Friday forcefully asserted that a “massive failure” of regulatory and supervisory powers had led to the...

U.S. bank shares suffered a rocky ride, closing mostly lower amid fears that losses from bad loans will soar because of a deep global recession.

U.S. bank shares suffered a rocky ride, closing mostly lower amid fears that losses from bad loans will soar because of a deep global recess...

US Treasury adds $7.7bn to National City rescue

National City, one of the biggest mortgage lenders in the Midwest, was acquired in a rescue deal yesterday after months of speculation about...

BayernLB, has already appealed for help, and a second landesbank, HSH Nordbank, run by the states of Hamburg and Schleswig-Holstein,

BayernLB, has already appealed for help, and a second landesbank, HSH Nordbank, run by the states of Hamburg and Schleswig-Holstein, said it...

IMF has warned that more European banks face the risk of going bankrupt

IMF has warned that more European banks face the risk of going bankrupt due to the continuing credit crisis and falling property prices. The...

Short sharp recession? Not on the evidence. We are now in the grip of a global deleveraging which will be severe, unsparing and prolonged.

Short sharp recession? Not on the evidence. We are now in the grip of a global deleveraging which will be severe, unsparing and prolonged. I...

Hungary has not had a mortgage crisis yet, but the country’s public finances are a mess.

Hungary has not had a mortgage crisis yet, but the country’s public finances are a mess. Since the accession to the European Union the count...

cost of borrowing in dollars overnight in London rose as the increased likelihood of a global recession spurred banks to hoard cash

The cost of borrowing in dollars overnight in London rose as the increased likelihood of a global recession spurred banks to hoard cash even...