The rating agency this week raised its estimate of Spanish banking sector losses by some 70%.
BRITAIN's government is expected to unveil its plans for reforming the banking sector this week.
The cutback in financial services reflects the slowdown in the banking sector, although several large IT contracts have been signed since the start of the credit crunch.
Like a lot of countries in Europe, the UK is a small country with a gigantic banking sector, and any rescue is likely to be very expensive.
Disarray in the domestic banking sector caused by credit losses and the turn-of-the-year collapse in industrial demand are lingering evidence.
Some economists have questioned whether the stress tests were rigorous enough to provide a true gauge of health in America's banking sector.
The banking sector was weak and fragmented and Nigeria's government was bogged down in fruitless negotiations over the billions of dollars of debt racked up during years of corrupt military rule.
Obama will use a 30-minute speech in Wall Street today to reiterate the need for a fundamental shakeup of the banking sector, three months after he announced proposals for reform.
A number of the countries with the highest profits on capital have banking sectors skewed toward corporate lending.
