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WireTap 0900 08/12/11

A round-up of the key stories across the specialist financial media, including how EU members are braced for a summit battle.

EU leaders braced for summit  battle

When the leaders of the European Union meet in Brussels on Thursday and Friday, facing a full-scale financial crisis in the eurozone, they know this will be no ordinary summit.

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Investors cautious ahead of EU summit 

Markets appear almost paralysed by tension as investors contemplate another two crucial days in the painfully long life of the eurozone fiscal crisis.

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Banks' ratings reliance nears end

The largest U.S. banks would have to stop relying on credit ratings to evaluate the risk of assets they hold in their trading accounts under proposed rules aimed at reducing ratings firms' influence on financial markets.

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Poll: investors predict China bank crisis 

Most global investors predict China will face a banking crisis within the next five years, paring their appetite for the nation’s shares and eroding confidence in its leadership, a Bloomberg Global Poll indicated.

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New standard CSA too dollar-centric, say Asian banks 

Banks in Asia-Pacific complain about dollar dominance in new standard CSA – prompting Isda to re-think its plans.

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