• Banking fear is feeding on itself in Europe as players grow more weary about counter party risk. Already tight credit is getting tighter. Bank shares were hammered yesterday. From the New York Times.
• As anticipated, Germany’s Constitutional Court rejected lawsuits attempting to block the country’s participation in Europe’s emergency loan packages. Further aid requires parliamentary approval which may slow response times. From Reuters.
• SNB’s Hildebrand faces tough odds after announcement to cap the Franc. From the Wall Street Journal.
• BofA shakes up senior ranks in an effort to stream line operations and improve cross selling. David Darnell and Thomas Montag have been named co-chief operating officers. Sallie Krawcheck and Joe Price are out as heads of wealth-management and consumer banking. From the Wall Street Journal.