Many have developed a shared service center or in-house bank and then select one bank for the Americas, another for Europe and one for Asia.

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Individual investors select shares with the highest return and track record, consumers select the bank with the best rates, your pension fund invests your savings in companies with the highest risk-return trade-off, and so on.

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Goldman Sachs has been the company in the headlines, but leading names like Bank of America and others in the Financial Select Sector SPDR like JPMorgan Chase have been beaten down as well.

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The Financial Select Sector SPDR ETF, which holds bank shares, was up slightly in extended trading.

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The Bank of England likes to claim it is accountable to the Treasury Select Committee, because it has to appear there quarterly.

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The pound did drop to a session low near 1.5545 after Bank of England (BOE) Governor Mervyn King told the Treasury Select Committee that it was right for the MPC to remain willing to use loose monetary policy in an effort to stimulate the economy.

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The Financial Select Sector SPDR ETF was up 2.5% and the KBW Bank Index was trading up around 2.2%.

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