Doha - Amid the global financial crisis Qatar Investment Authority announced Monday that it is buying between 10 and 20 per cent of the capital of Qatar's native banks listed on the stock market, reported the Qatar-based al-Jazeera TV channel.

The decision came to enhance confidence in the Qatari stock market, noting that it will buy the banks shares at Sunday's closing price.

The announcement came at a meeting attended by the Prime Minister of Qatar, Sheikh Hamad bin Jassem al-Thani, representatives of the banks listed on the Doha Securities Market and the Deputy Governor of the Central Bank.

Madrid - Santander, Spain's leading bank, plans to take advantage of the ongoing financial crisis to take control of Sovereign Bancorp, which has suffered recent losses, according to a media report.

Negotiations for the takeover are still underway, the Wall Street Journal reported Monday, quoting Santander.

According to the report, Santander wants to offer about 1.8 billion euros (2.5 billion dollars) for Sovereign Bancorp, in which the bank already has a 25 per cent stake.

Santander bought that stake three years ago, when Sovereign's shares sold for 27 dollars. Now they are worth 3.80, which means Santander has lost about 2 billion euros on the investment.

Warsaw - The Polish National Bank has prepared a "package of trust" to preserve the stability of Poland's banking system, president of the bank Slawomir Skrzypek said on Monday.

"We want to propose certain structures," Skrzypek said, "thanks to which the Polish National Bank will influence a growth in trust for transactions between banks."

Skrzypek said more details will be given during a meeting with banks on Tuesday.

The conservative Law and Justice party recently called for an agreement by political parties and the government to work with the national bank, financial regulators and labour unions to ward off damage to Poland.

Brussels - The European Commission on Monday said it would clear Irish plans to guarantee bank deposits after the government agreed to extend such protection to big foreign banks operating in the country.

"The European Commission welcomes the various changes and commitments made and the close cooperation with the Irish authorities over the last week," the EU executive said in a statement.

"The Commission will proceed urgently to the adoption of a decision on the Irish scheme in accordance with EU state aid rules," it said.

Ireland was the first EU country to guarantee deposits in Irish banks amid news of crumbling government finances and the ongoing global credit crisis.

Wellington - New Zealand will guarantee customer deposits in banks and other financial institutions which opt into a scheme designed to shore up confidence in the current international financial crisis, the government announced on Sunday.

Finance Minister Michael Cullen said, "The scheme will cover all retail deposits of participating New Zealand-registered banks and retail deposits by locals in non-bank deposit-taking entities. This would include building societies, credit unions and deposit-taking finance companies."

The Reserve Bank of India has cut the cash reserve ratio by 100 basic points. The decision of the apex bank is aimed to ease the liquidity problem in the financial system. Almost all financial bodies were demanding cut in the CRR from the RBI to improve liquidity condition in the Indian market. The move of the apex bank would release Rs 60,000 crore of bank deposits in the market. The cash reserve ratio is that proportion which banks reserve with the central bank.