Kenyans will be able to buy houses worth up to Sh5 million using their pension contributions as a guarantee for mortgages in a move that is set to spur activity in the home loans market.

WASHINGTON - The U.S. Federal Reserve said Sunday it had granted a request by the last two major U.S. investment banks - Goldman Sachs and Morgan Stanley - to change their status to bank holding companies.

Germany's biggest bank, Deutsche Bank, dropped earnings targets for 2008 after posting Tuesday its first quarterly loss in five years as a result of the global credit squeeze.

Scotiabank today announced changes to the Bank's mortgage products in response to the Department of Finance's recent announcement with regard to the changes in government guarantees for mortgages.

May 16 (Bloomberg) -- Fannie Mae , the largest U.S. mortgage- finance provider, will stop requiring bigger down payments in regions where home prices are dropping, responding to criticism from consumer and industry groups who said the company is exacerbat