Citi is latest downgrade as US banks take sub-prime hit [UPDATE]
Citigroup has become the latest US bank to have its credit rating downgraded following the firm’s announcement that it will lose US$8 billion–11 billion in the fourth quarter as a result of its US$55 billion sub-prime exposure.Aussie banks avoid credit calamity with solid results
The three Australian banks to have issued annual results in the past week all avoided most of the negative consequences of the sub-prime fallout and subsequent credit crunch.Aussie firms reinforce international operations [UPDATE]
Australian banks appear to be bucking the trend for reduced headcounts in credit operations among international institutions, citing a strong domestic market as the reason behind key hires in Europe and the US.