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WireTap 0900 18/11/11

A round-up of the key stories across the specialist financial media

S&P to update bank credit ratings within 3 weeks 

The ratings agency plans to update its ratings for the world’s 30 biggest banks, and analysts suggest that Bank of America, Citigroup and Morgan Stanley may all be looking at downgrades. 

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Germany's secret plans to derail a British referendum on the EU

Germany has drawn up secret plans to prevent a British referendum on the overhaul of the European Union amid concerns it could derail the eurozone rescue package, leaked documents obtained by The Daily Telegraph disclose.

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UK banks cut periphery eurozone lending 

Britain’s banks have cut their lending exposure to the eurozone periphery by a quarter in the last three monthS.

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CME insists it followed protocol over MF Global accounts 

CME Group has hit back at suggestions that it failed to immediately notify US regulators when it discovered a funds shortfall in customer accounts at MF Global.

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China trade surplus may be gone in two years, Central Bank adviser Li Says 

China’s trade surplus may disappear within two years as domestic demand rises, making the yuan rate less of an issue, an adviser to the nation’s central bank said.

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Ex-Olympus Chief Said to Face Questions by SEC 

Former Olympus president Michael Woodford was asked to a second interview by US investigators in a probe of advisory fees paid by the Japanese company.

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