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CFTC accuses Binance of ‘deliberate evasion’ of federal law Binance’s compliance was ‘ineffective’ under CEO – CFTC CFTC cites practices first reported by Reuters last year March 27 (Reuters) – The world’s largest crypto exchange Binance and its CEO and founder Changpeng Zhao were charged on Monday by the US Commodity Futures Trading Commission (CFTC) … Read more
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ZURICH, March 28 (Reuters) – Nestle (NESN.S) will examine its banking relationships following the planned acquisition of Credit Suisse (CSGN.S) by UBS (UBSG.S), the food group’s CEO Mark Schneider said on Tuesday. The world’s largest food group was a customer of Credit Suisse, Schneider told broadcaster TeleZueri in an interview to be shown Tuesday evening, … Read more
NEW YORK, March 26 (Reuters) – Some investors and analysts are calling for more coordinated interventions by central banks to restore financial stability as they fear the turmoil in the global banking sector will continue amid rising interest rates. After the collapse of two US lenders this month and the Swiss government-orchestrated takeover of troubled … 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
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
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
WASHINGTON, March 22 (Reuters) – US Treasury Secretary Janet Yellen told lawmakers on Wednesday that the Federal Deposit Insurance Corporation (FDIC) is not considering offering “general insurance” for post-collapse bank deposits from two prominent US banks this month. Some banking groups have urged Congress to temporarily guarantee all U.S. bank deposits, a move they say … Read more
NEW YORK, March 22 (Reuters) – As the beleaguered First Republic Bank (FRC.N) weighs its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, creating a “bull case” scenario becomes more difficult for the stock. First Republic, whose shares have lost much of their value since the … Read more