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1、BreakingnewsChina cutsrates,lowersreserveratioChina'scentralbankMondaycutthecostofbankloans,thefirsttimesince2002,andloweredtheproportionofmoneylendersmusthaveasreserves,thefirstsuchmoveinnineyears,tokeeptheeconomyfromslidingfurther.Thebenchmarklendingratewillbeloweredby0.
2、27percentagepointto7.20percentfromTuesday.China cutsrates, lowersreserveratioHowever,benchmarkdepositratesremainunchangedwiththeone-yearratetobekeptat4.14percent,aproofthatthecentralbankersarekeepinganeyeoninflation.China cutsrates,lowersreserveratioThe1percentagepointcutf
3、romthereserverequirementratioof17.5percentdoesnotapplytothefivebiggestbanks(theIndustrialandCommercialBankofChina,theAgriculturalBankofChina,theBankofChina,theChinaConstructionBank,theBankofCommunications)andthePostalSavingsBank,thePeople'sBankofChina(PBOC)saidonitswebsite
4、.StockssinkamidWallStcrisisUSstockssufferedtheirbiggestone-daydeclineonMondaysincethemarketreopenedaftertheterroristattacksofSeptember11,2001,asinvestorssoughtthesafetyofcashandgovernmentdebtfollowingthehistoriccollapseofLehmanBrothersandtheemergencysaleofMerrillLynchtoBan
5、kofAmerica.StockssinkamidWallStcrisisTheunprecedentedchangesonWallStreet-whichwasalsogrippedbyrisingfearsaboutthehealthofAIG,thegiantinsurer-leftinvestorsmoreconcernedwithpreservingtheircapitalthaningeneratingreturns.Yieldsonshort-datedgovernmentdebtcollapsed,fallingfarbel
6、ow1percent,amidfrenziedbuyingStockssinkamidWallStcrisisTheFederalReservebattledaferociousstormintheovernightmoneymarket,wherethefederalfundsratebrieflyhit6percent-threetimesthetargetrateof2percent-asfinancialinstitutionsscrambledtoraisecash.TheFedinjectedatotalof$70bninliq
7、uidity,beforethefedfundsratefinallyfellbacklater.AgendatodayStock(commonv.spreferred)DerivativesFinancialinstrumentsininternationalmarketsStockAshare(alsoreferredtoasequityshares)ofstockrepresentsashareofownershipinacorporationCategoryofstockCommonPreferred/preferentialPre
8、ferredstockAhybridFeaturesPrioritytoassetsandearningsParvalueCumulativedividendsconvertib
