Analysis-Swiss banking plan leaves ‘relieved’ UBS out of immediate firing line
By John Revill ZURICH (Reuters) – UBS could take years to feel the bite of new regulations after the Swiss government set out plans aimed at keeping the “monster bank” in line…
Banking turmoil means recession fears are creeping back
(Reuters) – The failures of U.S. lenders Silicon Valley Bank (SVB) and Signature Bank, followed by Credit Suisse’s rescue, and the ensuing turmoil in world markets have re-ignited the recession risks that…
Marketmind: Weighing up the global banking crisis
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asia’s economic data and policy calendar this week is light, which is perhaps just as…
U.S. Treasury says FSOC agreed banking system sound
WASHINGTON (Reuters) – The U.S. Treasury said that the multi-regulator Financial Stability Oversight Council agreed in a meeting on Friday that the U.S. banking system remains “sound and resilient” despite stress on…
Bank of America to redeploy wealth management, banking employees – source
(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest…
High & Dry: Banking crisis to further choke funding for cannabis sector
By Mrinalika Roy (Reuters) – The global banking turmoil threatens to squeeze U.S. cannabis companies already struggling with meager funding sources by drying up support from regional lenders and tightening fundraising from…
IMF calls for ‘continued vigilance’ in wake of banking turmoil
WASHINGTON (Reuters) – Rapid actions by policymakers and major central banks after banking collapses in the United States and Switzerland have eased market stress to some extent but continued vigilance is warranted,…
Fed’s Powell says he welcomes probes into banking problems
(Reuters) – Federal Reserve Chairman Jerome Powell said on Wednesday that he expects and welcomes outside investigations into the banking woes that kicked off with the collapse of Silicon Valley Bank. “It’s…
STEVE HANKE And MATT SEKERKE: Fed’s Monetary Blunders Put The Entire Banking System In A Bad Spot
STEVE HANKE And MATT SEKERKE: Fed’s Monetary Blunders Put The Entire Banking System In A Bad Spot Steve Hanke And Matt Sekerke on March 21, 2023 The Federal Reserve’s monetary mismanagement has…
Analysis-Safe-havens and risk assets both rise as banking woes shift Fed expectations
By David Randall and Lewis Krauskopf NEW YORK (Reuters) – Worries over the banking crisis are boosting disparate assets, with traditional safe-havens such as gold, Treasuries and money markets seeing high demand…
Canada’s banking regulator reaffirms creditor hierarchy after Credit Suisse deal angers bondholders
(Reuters) – Canada’s banking regulator said on Monday that those who hold Additional Tier 1 (AT1) and Tier 2 debt will be entitled to a more favorable outcome if a bank runs…
Market stress indicators flash warnings as banking worries continue
(Reuters) – Fears of a global banking crisis are continuing to swirl, with investors keeping a close eye on a dashboard of indicators that show how stress is rippling through markets and…
Global banking turbulence prompts Wall Street banks to trim hawkish Fed bets
By Susan Mathew (Reuters) – Goldman Sachs is expecting a pause this week from the U.S. Federal Reserve after a year-long rate increase campaign as Wall Street banks scale back their hawkish…
Factbox-What can the ECB do to stop the banking crisis?
FRANKFURT (Reuters) – A Swiss orchestrated rescue of Credit Suisse by rival UBS has failed to calm nerves as investors worry which banks could be next in line. Here’s a look at…
Former Goldman Sachs CEO Blankfein says US banking crisis will slow growth
By Kanishka Singh WASHINGTON (Reuters) – Former Goldman Sachs CEO Lloyd Blankfein said on Sunday the banking crisis in the United States was going to expedite overall credit tightening and slow the…
Warren Buffett in discussions with Biden officials on banking crisis-source
WILMINGTON, Delaware (Reuters) – Berkshire Hathaway Inc’s Warren Buffett has held discussions with senior Biden adminstration officials about the banking crisis, a source familiar with the matter told Reuters on Saturday. The…
Two ECB hawks call for more rate hikes despite banking turmoil
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank needs to keep raising interest rates because underlying price growth is sticky, two policymakers seen as hawkish said on Friday,…
‘Utter Incompetence’: European Officials Accuse US Of Ripping Up Banking Rules With SVB Bailout
‘Utter Incompetence’: European Officials Accuse US Of Ripping Up Banking Rules With SVB Bailout Nino Cambria on March 16, 2023 European officials are enraged at the U.S. for their decision to bail…
New Jersey, New York skip DeSantis alliance to fight against ‘woke’ banking, investing
Mary Lou Masters on March 16, 2023 TRENTON, NJ – New York and New Jersey won’t be joining an 18-state coalition against ‘woke’ banking and investing policies in the United States in…
Philippine central bank: local banking system remains safe and sound
MANILA (Reuters) – The Philippine central bank said on Friday that the local banking system remains safe and sound, amid concerns over the potential for contagion stemming from banking turmoil affecting some…
Banking worries send US markets on dizzying ride
By Lewis Krauskopf NEW YORK (Reuters) – Tumult in the banking system has roiled investors over the past week, sending Treasury yields into a tailspin, slamming U.S. bank stocks and exacerbating fears…
Banking rout fuels U.S. oil hedging, as investors seek to limit losses
By Stephanie Kelly and Arathy Somasekhar NEW YORK (Reuters) – Oil producers, banks and hedge funds have increased purchases of put options to protect themselves from further losses, market sources said this…
Investors shun high-yield bonds on recession, banking risks
By Patturaja Murugaboopathy and Davide Barbuscia (Reuters) – Global investors have resumed their selling of high-yield corporate bonds after a brief respite in January, as fears over the health of smaller banks…
Marketmind: ECB into the eye of banking storm
A look at the day ahead in European and global markets from Tom Westbrook The European Central Bank (ECB) meets today for the first big test of policymakers’ response to bank stability…
U.S. Senate banking panel to hold hearings on sector’s woes, chair says
WASHINGTON (Reuters) – The Democratic head of the U.S. Senate Banking Committee on Wednesday said the panel would hold hearings on the bank industry’s problems but that any new legislation was unlikely…
Goldman Sachs cuts U.S. GDP forecast after banking crisis
(Reuters) – Goldman Sachs on Wednesday lowered its forecast for fourth-quarter U.S. gross domestic product (GDP) growth, citing risks to the lending environment as smaller banks pull back on loans to preserve…
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