The Swiss bank USB has announced it will write down 12 billion euros in connection with the US credit crisis. The bank's nett loss for the first quarter of this year amounts to seven-point-six billion euros. Last year the bank sustained a nett loss of two-point-six billion euros, its first ever full-year loss.

Treasury Secretary Henry Paulson proposes a major overhaul of how the federal government oversees the economy.

Deutsche Boerse is focusing on organic growth but remains open to acquisitions, Chief Executive Reto Francioni said on Wednesday.

In his remarks before the New York Society of Securities Analysts on housing, foreclosure and capital markets Secretary of Treasury Henry Paulson says 45000 homeowners seek foreclosure aid and that housing correction is expected in the real estate markets, slower growth is predicted.

Treasury Secretary Henry M. Paulson, Jr. announced the next steps of his capital markets competitiveness action plan on June 27, focusing on maintaining the global leadership of America's capital markets.