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The article focuses on an increase in the number of banks in Europe and the U.S., including HSBC Holdings PLC and Citigroup Inc., that are, in 2007, considering selling branches or entire banking units in an effort to make sure that their finances remain stable in 2008. The banks feel that the credit crisis of 2007 may continue in 2008 and they want to protect themselves from further financial damage.

The article reports on a decision from Wachovia Corp. to become involved in an $80 billion investment fund being developed by Citigroup Inc., J. P. Morgan Chase & Co. and Bank of America Corp., The pool has been developed to acquire mortgage assets and help financially struggling credit markets in the U.S.

The article focuses on a consortium which is being led by Citigroup Inc., and its plans to oversee a $100 billion fund to buy securities owned by investment structures hobbled by the slowdown in the debt markets of the U.S. The consortium hopes that the fund will bring U.S. investors back to the asset backed commercial paper market which had been negatively effected by investors who were concerned about exposure to subprime mortgages.

The article reports on the determination of bankers to accelerate the creation of a rescue plan for struggling investment funds. Bankers from Citigroup Inc., Bank of America Corp. and J.P. Morgan Chase & Co. are cooperating to create a superfund. Officials of the U.S. Department of Treasury remain optimistic in the completion of a superfund. The creation of the superfund faces several challenges.

The article reports on a record high which was seen at the Dow Jones Industrial Average on October 1, 2007, despite reports from Citigroup Inc. and UBS AG which indicated that the two banks had received millions of dollars of losses as a result of their involvement with mortgage linked securities and would have to initiate write downs as a result.