SNAPSHOT - Financial Crisis - 0055 GMT

NEWS

- Leaders of Southeast Asian nations agree to ease monetary policy, resist protectionism as they fight financial crisis.

- British PM Brown wants more rigorous global supervision of banking. Says no hedge fund, tax haven should fall through cracks

- American International Group Inc <AIG.N> close to a deal with the U.S. government that would ease terms of its bailout

- Berkshire Hathaway Inc <BRKa.N> <BRKb.N>, Warren Buffett's insurance and investment co., barely breaks even in 4th quarter

- British bank HSBC <HSBA.L> set to announce share sale of up to $18 bln. Could become country's biggest-ever rights issue

- China Premier Wen Jiabao says financial crisis still spreading and has not bottomed out, but stimulus starting to work

MARKETS

- U.S. stocks fall, S&P 500 closes at 12-year low after govt announces Citi move. Dow <.DJI> off 119.15 points, or 1.66 pct

- Europe shares fall on Citigroup deal, U.S. budget plan worries and big loss at Lloyds <LLOY.L>. Nikkei up 1.5 pct

- Oil prices fall 1 pct, hit by U.S. data showing economy of world's top energy consumer shrank more than expected

- Dollar up as poor U.S. economic data, weak U.S. stock markets and Citigroup rescue lead to safe-haven buying

- Longer-dated Treasury bond prices fall, but short maturities gain from a safe haven bid flowing out of falling stocks

QUOTES

"We will be severely tested from now on, both as a group and as a part of the broader Asia region. As the financial crisis deepens, the world will look towards our region for action and for confidence." - Thai Prime Minister Abhisit Vejjajiva.

"Some practices are indefensible and they have got to be cleaned up now. It's time to set new rules for the banks of all countries." - British Prime Minister Gordon Brown.

"The economy will be in shambles throughout 2009 -- and for that matter, probably well beyond." - Investor Warren Buffett.

"HSBC plans to launch a rights issue of as much as $18 billion. Goldman Sachs <GS.N>, JPM Cazenove <JPM.N> and HSBC are the underwriters, and they are inviting co-bookrunners, joint lead managers and co-leads." - Source familiar with the situation.

"The financial crisis, (on a scale) rarely seen in 100 years, is still spreading and has not bottomed out yet." - Chinese Premier Wen Jiabao.

DIARY (all times GMT)

MONDAY, March 2

WASHINGTON - The Commerce Department issues personal income for January at 1330.

TUESDAY, March 3

WASHINGTON - Senate Budget Committee holds a hearing at 1500 on "Economic and Budget Challenges for the Short and Long Term." Federal Reserve Chairman Ben Bernanke testifies.

WASHINGTON - The National Association of Realtors issues pending home sales index for January, and monthly housing forecast at 1500.