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The article discusses the finances of the international banking industry, focusing on large banks in Europe. A loss of liquidity by banks in Europe caused by fears among financiers that the banks will suffer large losses on their holdings of euro area countries' public debts is examined. An increase in the spreads of credit default swaps on corporate bonds of large U.S. banks is discussed.

The author reports that the finance arm of Ford Motor Company, Ford Motor Credit, filed with the U.S. Securities and Exchange Commission to sell a new issue of bonds due 2020. Ford is the only one of Detroit, Michigan's Big Three automobile makers that did not file for Chapter 11 bankruptcy during the financial crisis. Ford had raised funds through bond sales.