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Deutsche Bank, Credit Suisse set to scale back global ambitions

Lenders are struggling to adapt to rising capital requirements, record-low interest rates

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Credit Suisse CEO Mr Thiam may tap investors for as much as 8 billion Swiss francs to meet tougher capital requirements.

Frankfurt

EUROPE'S last global banks are caving in to pressure from regulators and preparing to tell investors just how much their aspirations will shrink.

"The European banks were too long holding onto the past and not realising that this change is for good - it's permanent," said