Text size [+][-] Wednesday November 19 2008GLOBAL EDITION
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By Edward Hadas
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The FTSE 100 fell by 2.5% on September 4. The Dow Jones Eurostoxx banks’ index fell by 3.4% on the same day. Since Sept 1 the won and rubble have fallen 3% and 6% respectively against the dollar. Jean Claude Trichet, president of the European Central Bank, announced on September 4 that the bank would increase the gap between the face value of asset-backed securities it accepts as collateral and the amount borrowed against them to 12%.
edward.hadas@breakingviews.com