european banks

The Bank of England cut its benchmark interest rate by 1.5 percentage points and the European Central Bank cut its benchmark interest rate by half a percentage point.

Commerzbank on Monday became the first commercial lender in Germany to accept government cash, while several other European banks reported poor earnings.

Many banks are reluctant to seek cash from governments because of the message it might send to financial markets and executives’ worries about accepting limits on decision-making and pay.

European governments had to step in with a flurry of major bank bailouts from Iceland to Germany as fear and turmoil from the U.S. credit crisis spread through the financial system.

European governments had to step in with a flurry of major bank bailouts from Iceland to Germany as fear and turmoil from the U.S. credit crisis spread through the financial system.

The Belgian-Dutch Fortis Group and Britain’s Bradford & Bingley are two leading European banks with heavy exposure to soured mortgages.

Both the European Central Bank and the Bank of England kept their key interest rates unchanged Thursday amid concerns of high inflation and a slowing economy.

European banks have been getting help from stronger business in emerging economies, and have been reporting surprisingly resilient results in the face of global economic turmoil and losses from the U.S.

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The Royal Bank of Scotland posted first-half losses Friday that weren't nearly as bad as some analysts had feared, rounding out what is shaping up to be a relatively bright earnings season for Europe's biggest financial institutions.

"It is intended to continue the provision of U.S. dollar liquidity for as long as the governing council considers it to be needed in view of the prevailing market conditions"