Tim Geithner, US Treasury secretary, said the ??vast majority? of the nation??s banks are well-capitalised and damped investor fears that the government will wipe out their holdings.
According to officials, who are appointed to liquidate Stanford International Bank (SIB), it will take at least five years to locate money lost by investors in the alleged $8bn ??Ponzi? scheme run by Texan billionaire Sir Allen Stanford.
The aggregate deficit of corporate UK pension funds reached more than £250bn in March, setting a record for a shortfall due in large part to the drop in gilt yields.