Australian banks are expected to start launching covered bond issues in the European and US markets this week. Dow Jones reports the ANZ said it will price a five-year $US issue this week, while other banks are also close to announcements. International Financing Review reports that NAB's issue has run into documentation issues, while the CBA is still deciding whether to issue in $US or euro.. Westpac will cut business lending rates by 0.25 per cent while ANZ will drop them by 0.20 per cent, both on 21 November, the Australian Financial Review reports. Italian banking giant UniCredit plans to raise €7.5 billion (A$10.0 billion) in new capital after a €10.6 billion (A$14.2 billion)  third-quarter loss. Japanese banking's Big Three - Mitsubishi, Mizuho and Sumitomo - have announced first-half earnngs that show no impact from the European debt crisis. Mitsubishi's profits for the September half rose 95 per cent while profits at Mizuho and Sumitomo fell by about a quarter.