Tag: DBTR
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Cryptoverse: Bitcoin passes bank stress test
21 March (Reuters) – As the crisis haunts the traditional world of stocks and bonds, bitcoin suddenly looks like a safe haven. The notoriously volatile cryptocurrency seems positively healthy and savory, just as a banking collapse drives markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 […]
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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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FDIC to break up SVB, aim for separate private unit sales
March 20 (Reuters) – The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposit division and its private bank after failing to find a buyer for the failed bank last week found a lender. It will bid for Silicon Valley Private […]
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Wall Street slides on fears of contagion from banking crisis
First Republic Bank tumbles over dividend suspension SVB Financieel seeks bankruptcy protection FedEx jumps on full-year profit forecast Indexes down: Dow 1.31%, S&P 1.17%, Nasdaq 0.80% NEW YORK, March 17 (Reuters) – Wall Street fell on Friday at the end of a tumultuous week marked by the unfolding banking sector crisis and the gathering storm […]
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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 […]
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Global bank share price deepens as SVB collapse crisis fears heat up
March 14 (Reuters) – Shock waves from the collapse of Silicon Valley Bank (SIVB.O) hit global banking stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompt a rethink of the interest rate outlook. Biden’s efforts to reassure markets and savers came after emergency measures […]
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HSBC bails out the British branch of stricken Silicon Valley Bank
US authorities support savers The UK deal puts an end to frenetic weekend talks UK Chancellor of the Exchequer: Deposits safe LONDON, March 13 (Reuters) – HSBC (HSBA.L) on Monday bought the UK branch of stricken Silicon Valley Bank for a token pound, bailing out a major lender to Britain’s technology start-ups and mitigating the […]
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Global markets prepare for aftershocks as SVB collapse ripples out
SYDNEY, March 13 (Reuters) – Markets were in for a bumpy ride this week as the fallout from the collapse of startup-focused lender Silicon Valley Bank (SVB), the largest US bank failure since the 2008 financial crisis, coincides with major economic data and policy meetings. S&P500 futures rose 1.4% after US authorities guaranteed that SVB […]