Fashion has swung towards banks with big balance sheets that can offer loans as a lure for investment-banking business.

ECONOMIST: Germany's biggest bank regroups to storm New York

Morgan Stanley and other big firms are also starting to rebuild their securitization business, which pools together auto loans, credit-card receivables, and other forms of credit, and then issues bonds backed by them.

NEWYORKER: What Good Is Wall Street?

The business is lost because big banking groups can use their strong balance sheets to offer loans and other products requiring a top credit rating, along with the usual investment-banking services.

ECONOMIST: Investment banks

Last year, the government abruptly changed its lending rules for auto loans and private banks had to comply or lose business to the big state banks, mainly Banco do Brasil and Caixa Economica Federal.

FORBES: Brazil Facing Its Own 'Sub-Prime' Lending Problem