Market Update: Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), Merck (NYSE:MRK), Boeing (NYSE:BA)

European companies are seeking to refinance loans at the fastest rate in almost two years, amid concerns that banks’ ability to lend will be squeezed by tighter regulations and higher funding costs. Companies including PSA Peugeot Citroen and Iberdrola SA borrowed $168.3 billion from banks since April, according to data compiled by Bloomberg, the biggest quarterly volume since the collapse of Lehman Brothers in September 2008. Three quarters of the deals were used to refinance debt, Bloomberg data show. European banks are forecast to halve loan growth over the next two years from 7.5 percent since 2001, Bank of America (NYSE:BAC) Merrill Lynch analysts wrote June 9. Stricter capital rules, informally known as Basel III, would cut earnings at 13 of the largest banks by $20 billion, JP Morgan Chase…