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JOHANNESBURG, March 28 (Reuters) – China has spent $240 billion between 2008 and 2021 to bail out 22 developing countries, with the amount soaring in recent years as more people have struggled to repay loans spent on building of “Belt & Road” infrastructure, according to a study published Tuesday. Nearly 80% of bailout loans were … Read more
Asian Fairs: Nikkei up 0.3%, S&P 500 and European futures up Eyes on Deutsche Bank, credit default swaps Deposits flow from banks to money market funds SYDNEY, March 27 (Reuters) – Asian stocks struggled on Monday as US and European stock futures rose higher on hopes authorities sought to shield stress in the global banking … Read more
WASHINGTON/FRANKFURT, March 26 (Reuters) – Stress in the banking sector is under close scrutiny due to its potential to trigger a credit crunch, a US Federal Reserve policymaker said on Sunday, while a European Central Bank official also suggested a possible credit tightening. . Authorities around the world are on high alert about the fallout … Read more
ZURICH, March 26 (Reuters) – Swiss financial regulator FINMA said it was considering disciplinary action against managers at Credit Suisse (CSGN.S) after Switzerland’s second largest bank had to be bailed out by UBS (UBSG) last week .S). FINMA president Marlene Amstad told Swiss newspaper NZZ am Sonntag it was “still open” whether a new procedure … Read more
March 25 (Reuters) – US authorities are considering expanding an emergency credit facility that would provide more support to banks, in a bid to give First Republic Bank (FRC.N) more time to strengthen its balance sheet, Bloomberg News reported. on Saturday. All deliberations are in the early stages and an expansion of the Federal Reserve’s … Read more
OTTAWA, March 24 (Reuters) – President Joe Biden said on Friday that federal deposit insurance could be tapped for deposits over $250,000 if other US banks fail, expressing confidence that medium-sized US banks would ease industry tensions. to survive. Biden said U.S. banks are in “quite” good shape, people’s savings were safe and he didn’t … Read more
WASHINGTON, March 24 (Reuters) – The multi-regulator US Financial Stability Oversight Council agreed on Friday that the US banking system remains “sound and resilient” despite pressure on some institutions, the US Treasury Department said in its latest statement to calm jittery markets and bank depositors. Speaking to a private meeting chaired by Treasury Secretary Janet … Read more
NEW YORK, March 23 (Reuters) – Citizens Financial Group Inc (CFG.N) is preparing a bid to acquire the private banking business of bankrupt Silicon Valley Bank, two people familiar with the matter said Thursday. Citizens, one of the largest regional banks in the US, is preparing to bid for the auction of the company, which … Read more
March 23 (Reuters) – The Bank of England followed the Federal Reserve and the Swiss National Bank on Thursday in continuing rate hikes, saying the UK banking sector was strong enough to withstand the instability that rippled through markets this month. Relentless rate hikes to contain inflation are among the factors responsible for the worst … Read more
ZURICH, March 22 (Reuters) – The fall of Credit Suisse (CSGN.S) has seriously damaged Switzerland’s credibility as the world’s leading wealth management center, experts warn, damaging Switzerland’s reputation for stability, regulation and corporate governance is questioned. Plagued by years of scandals and losses, Credit Suisse had been battling a crisis of confidence for months before … Read more