• Access to funding is pressuring Dexia bank. Belgian and French officials are looking at ways to split the company and backstop some of its bonds. From the Financial Times.
• Deutsche Bank lowers 2011 profit estimates. From the Wall Street Journal.
• The U.S. Senate opened discussion on the bill tying the Chinese currency level to tariffs. US concerns over the anti-competitive effects of the managed currency continue to grow. China warned of a stiff response if the bill passes to the House later this week. From the Financial Times.
• Talk of bigger haircuts for Greek bondholders spooked markets as EU finance ministers met in Luxembourg. A greater burden for the private sector involvement than that outlined in the July 21st agreement for Greek aid is a possibility according to officials. From Bloomberg News.