That money can shore up balance sheets depleted by the plunge in prices of mortgage-backed securities and other risky investments.

Year-end funding pressures as banks shore up balance sheets with only cash and other ultra-liquid assets are also headwinds for debt sales.

Yet global commercial and investment banks are desperate for new cash to shore up balance sheets gutted by losses on mortgages and other debt.

Year-end funding pressures caused by banks shoring up balance sheets with cash and other ultra-liquid assets are also headwinds for debt sales.

Banks have been shoring up balance sheets by raising capital and writing down toxic debt securities since the credit crisis began over a year ago.