Financial Times FT.com

US banks in rush for cheap finance

By Francesco Guerrera and Aline van Duyn in New York and David Oakley in London

Published: July 29 2010 22:39 | Last updated: July 29 2010 22:39

US banks are taking advantage of improving earnings and growing investor demand to raise billions of dollars in debt at historically low interest rates, a move that could boost the sector’s profits in coming years.

The burst of fundraising in the US is in stark contrast to Europe where banks have struggled to issue debt as the eurozone crisis and worries about the financial industry have undermined market confidence.

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