10/31/2008

Germany's Deutsche Bank and Norway's DnB NOR used the EU's newly loosened accounting rules to report results that are more favorable than expected. Folkert Jan Van der Veer, an analyst at Dresdner Kleinwort, criticized the relaxed rules, saying they come at a potentially high cost. Meanwhile, Austria's Erste Group and Kazakhstan's BTA acknowledged that they have lined up government aid as the financial crisis worsens.

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