European finance ministers moved to reassure banking customers by agreeing to raise bank-deposit guarantees to 50,000 euros ($67,930), from the current level of 20,000 euros.
Markets rebounded on Thursday after the previous day's rocky ride, but where can investors seek refuge?
IKB Deutsche Industriebank saw a net loss of euro540 million ($739.80) in its fiscal first quarter, but said a government rescue package had helped it stabilize.
The Federal Reserve led a global interest rate cut Wednesday along with the central banks of the UK, European Union, Switzerland, Sweden, and Canada.
Stock markets around the world continued to tumble. As investors bail out of stocks, where can investors look for more safety?
European stocks pared back some of the losses on Wednesday after plunging about 8 percent earlier in the session as credit fears grew.
Our liberal, equity-owning democracy has taken a major blow. With this precedent what incentive is there now for me to own another bank share?
Shares in three major UK banks -- thought to be well capitalized -- were hammered after a report that they might ask the government for funding reignited fears about how sound the banking system was.
Australia's Central Bank stunned the markets by cutting interest rates by a full-point to 6 percent Tuesday, a reduction that was twice as big as economists predicted and the bank's biggest cut in 16 years.
They've worked hard, they've worked long and, through prudence, they've borne the additional cost of absorbing East Germany and being a founder member of the euro zone. And now the German worker has had enough.
The European Union will not respond with a U.S.-style bailout package to the current crisis but it will probably decide to guarantee all private deposits in banks across its territory to boost citizens' confidence in financial institutions, analysts told CNBC on Tuesday.
European nations scrambled on Sunday night to prevent a growing credit crisis from bringing down major banks and alarming savers as troubles in financial markets spread around the world, accelerating economic downturns on three continents, the New York Times reported.
Countries across Europe are following the move by Ireland to guarantee all its bank deposits. Should governments guarantee deposits? Vote in our poll.
Greece's banking system "is totally safe and reliable" despite the world financial turmoil and all bank deposits in the country are guaranteed, Finance Minister George Alogoskoufis said on Friday, according to the Associated Press.
Ireland's decision to guarantee all bank deposits will contribute to the demise of the single European currency, because it will erode the euro's credibility if it's allowed to go ahead, Hugh Hendry, chief investment officer and Partner at Eclectica Fund, told CNBC on Thursday.
The European Central Bank left interest rates unchanged as expected on Thursday despite the financial turmoil engulfing European banks and increased signs of weakness from the euro zone economy.
The U.S. government should take stakes in banks in order to recapitalize them rather than instituting a $700 billion bailout package, as the economy is one step away from depression, Hugh Hendry, chief investment officer and Partner at Eclectica Fund, told CNBC on Thursday.
What action do you think, if any, will help prop up the European banking sector?
The $700 billion bailout package that Congress is scrambling to pass will only prolong economic woes, legendary investor Jim Rogers, CEO of Rogers Holdings, told CNBC on Wednesday.
Barclays Capital, the investment banking division of Barclays Bank, said Tuesday it relaunched Lehman Brothers' U.S. equity trading and research unit under the Barclay Capital name.