In Europe, France and Germany were close to announcing dramatic plans to shore up their banks while in Britain, the government was preparing a radical state recapitalisation of some of the country's biggest banks.
In the US, officials were also working to finalise a plan to recapitalise their banks and other financial institutions.
In the Asia Pacific, Australia and New Zealand announced guarantees for all bank deposits, as did the United Arab Emirates, while elsewhere in the Middle East, Saudi Arabia cut its interest rates.
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