Tag: BNKCAP
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As confidence in the banking sector faltered, central banks called for 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 […]
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US regulators say banking system ‘sound and resilient’
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 […]
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Caught between markets and the US Congress, Yellen adjusts the bank’s security message
WASHINGTON, March 23 (Reuters) – For the fourth time in a week, US Treasury Secretary Janet Yellen took to the microphone on Thursday to reassure Americans that the US banking system is safe, each time with a subtle shift in the message. But bankers and Wall Street never heard what they desperately wanted: for the […]
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Central banks continue to raise interest rates amid banking turmoil
March 23 (Reuters) – The Bank of England followed the Federal Reserve and Swiss National Bank in raising interest rates on Thursday as policymakers continued their battle against inflation in the face of the instability that rippled through the global banking system this month . Investors had wondered whether central banks could continue tightening policies […]
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US not considering ‘general insurance’ for bank deposits, says Yellen
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 bank deposits following the collapse of two prominent US banks this month. Some banking groups have urged Congress to temporarily guarantee all U.S. bank deposits, a move […]
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US authorities focused on stability, First Republic as Fed meets
March 22 (Reuters) – US authorities will consider moves on Wednesday to further strengthen financial stability, along with scenarios to address the problems regional lender First Republic Bank continues to face. While the recent market turmoil has eased, the Federal Reserve meeting is now at the center of attention, with traders arguing over whether the […]
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PIMCO lost $340 million on the write-down of Credit Suisse AT1 bonds – source
NEW YORK, March 20 (Reuters) – Bond giant PIMCO lost about $340m on a class of Credit Suisse bonds wiped out by its takeover by UBS (UBSG.S), with the US investment manager’s overall exposure to the Swiss lender running low in billions, said a source familiar with the situation. Swiss authorities on Sunday decided to […]
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ECB watchdog sees no contagion of Europe after US and Swiss bank rescues
March 17 (Reuters) – European Central Bank regulators see no contagion for eurozone banks from the recent turmoil, a source said Friday, after US lenders First Republic Bank (FRC.N) tossed a $30bn lifeline and record amounts from the Federal Reserve. To book. Major US banks stepped in on Thursday to bail out the San Francisco-based […]
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The US banking system is sound, but not all deposits are guaranteed, Yellen tells senators
WASHINGTON, March 16 (Reuters) – The US banking system remains sound and Americans can be confident that their deposits will be there when they are needed, Treasury Secretary Janet Yellen said on Thursday, though she denied that recent bailouts following two major bank failures mean there is there was now a general government guarantee for […]
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Credit Suisse secures $54 billion lifeline as authorities scramble to prevent global banking crisis
March 16 (Reuters) – Credit Suisse (CSGN.S) said on Thursday it would borrow up to $54 billion from the Swiss central bank to bolster liquidity and investor confidence after a slump in its shares raised fears of a global banking crisis . The Swiss bank’s announcement on Thursday helped counter heavy selling in financial markets […]