Also pressuring the market are expectations that funding conditions in China's short-term money market will get tighter toward the end of the year, when demand for cash typically surges for gift purchases andbonuspayment, analysts said.
Lawyers were also trying to change the nature of the paymentand re-characterize it as a bonus for negotiating the merger between AMR Corp. and U.S. Airways.
The ring-fence structure makes a distinction between the bits of banking that need saving (deposit-taking banks, payment systems and the like) and the bits that do not (bonus-gorging investment bankers).