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Bank lending plummets by $1.1 trillion

Started by sajiv, Oct 24, 2008, 02:14 PM

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sajiv

Oct 24, 2008, 02:14 PM

SWITZERLAND: Cross-border lending by banks fell $1.1 trillion in the second quarter of 2008, the biggest decline for a decade, latest BIS figures showed on Thursday, underlining the severity of the credit crisis, according to figures compiled by the world's biggest central banking body.

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