ING priced a rights issue intended to raise 7.5 billion euros ($11.2 billion) at 4.24 euros per share, luring shareholders with a hefty discount of close to 40 percent as it looks to pay back state aid.

Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a centre for investment and a source of capital.

Albert Edwards, an analyst at French bank Societe Generale who correctly predicted the Asian financial crisis, sees global equity markets at a new low and chances of another global recession in 2010.

Societe Generale's missed forecasts with a third quarter net profit that more than doubled from a year ago and the bank said the economic environment remained uncertain, following a deep financial crisis.

Erste Bank said the worst of the crisis may now be over for banks in emerging Europe, after it beat third-quarter earnings forecasts and launched a 1.65 billion euro ($2.4 billion) cash call.

JP Morgan changed its preference to traditional, credit-exposed banks from investment banks after regulators pledged to toughen capital rules for financial institutions, Reuters reported Wednesday, quoting research by the bank.

Stanford investors are suing five banks, including two in the US, that handled billions of dollars in customer deposits for Stanford International Bank in Antigua, the offshore bank at the heart of the alleged Ponzi scheme.

Goldman Sachs may be bad, but it’s far from the worst.