Here's a look at what's news in banking and finance this morning:
- A handful of central banks announced a move to ease global liquidity this morning, which should make it easier for banks to get money.
- Bank of America's stock has continued to fall in recent days. It's nearing the $5 mark, which CNN says is a dangerous threshold.
- Wells Fargo has expanded its lead as the largest bank by market capitalization, the San Francisco Business Times explores.
- A significant number of smaller banks are cutting jobs to trim expenses (though total bank employment still grew), the Wall Street Journal reports.
- While U.S. banks faced ratings downgrades, several Chinese banks were boosted on the belief that the Chinese government would step in should there be economic stress, Bloomberg says.