Confronted with a worldwide downturn in financial markets, U.S. banks are beginning to curtail their overseas operations.

While no one expects the banks to mount a full-scale retreat, they are clearly feeling bruised from recent stumbles in Asia, Eastern Europe, and Latin America. As losses on loans, derivatives, and securities holdings pile up, they are moving to cut their credit exposure, pare expenses, and reduce staff.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.