Date:24/10/2008 URL: http://www.thehindu.com/2008/10/24/stories/2008102461331500.htm

Business

Bank lending plummets by $1.1 trillion

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.