UK derivative law may be abandoned

Note: This section contains information in English only.
Source: Bloomberg

EU leaders may abandon UK derivative legislation after PM Cameron's attempt to protect country's financial sector almost ruined EU summit, said 4 officials familiar with matter. Analysts suggest that possible crumbling of UK's derivatives could be a notice from EU officials that British veto alone cannot strengthen its financial system. 

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Fri, 16 Dec 2011 09:31:46 GMT

India maintains its key interest rate

The Reserve Bank of India announced it would maintain the key interest rates at the same level and would devote its strategies towards sustainable growth. The lending rate stayed at 8.50% while borrowing rate at 7.50%. The bank cited worsening economic outlook and outlined that it now put all its efforts in boosting economy rather than combating exorbitant inflation.

Fri, 16 Dec 2011 10:01:06 GMT

Fitch cuts ratings for several leading banks

Fitch Ratings agency reduced credit ratings for 3 major US banks: Goldman Sachs Group Inc, Citigroup Inc. (C) and Bank of America Corp. Lenders' long term credit ratings were cut from A+ to A, reported Fitch yesterday. Fitch Ratings also downgraded several European banks including BNP Paribas SA, Barclays Plc, Credit Suisse Group AG and Deutsche bank AG.   

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