European banks including UBS AG, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Credit Suisse Group AG have announced more than 70, 000 job cuts since midyear, compared with 42, 000 by U.S. peers, according to data compiled by Bloomberg.

FORBES: Wall Street Job Cuts: Morgan Stanley May Kill 580 Jobs In NYC

In a sign of the runaway jitters that are pounding bank stocks, Credit Suisse Group and UBS AG denied they borrowed the funds, saying their liquidity remains strong.

WSJ: Bank Woes Take Center Stage: SNB Reports Dollar Borrowing; UBS, Credit Suisse Deny Tapping Facility