Tag: INSR
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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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Factbox: Warren Buffett’s Investments in Financial Firms
NEW YORK, March 23 (Reuters) – Berkshire Hathaway’s Warren Buffett has been in talks with senior officials in the Biden administration about the banking crisis, leading some to speculate that Buffett might consider investing in the sector following the collapse of Silicon Valley Bank . Buffett is known to invest during tough times for the […]
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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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First Republic Could Rally as FDIC Insures Deposits Analyst
NEW YORK, March 22 (Reuters) – As beleaguered First Republic Bank (FRC.N) weighs its options, Morgan Stanley analysts say there is a “bull case” for the stock if regulators insure customer deposits until the banking crisis is over. First Republic, whose shares have lost much of their value since the start of the US banking […]
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Warren Buffett remains optimistic and preaches patience in an annual letter
Feb. 25 (Reuters) – Billionaire investor Warren Buffett indicated on Saturday that he has not yet lost his continued faith in the US economy and his company Berkshire Hathaway Inc (BRKa.N). In his annual letter to Berkshire shareholders, the 92-year-old Buffett urged investors to focus on the long-term big picture, rather than higher inflation and […]
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HSBC’s dividend boom was offset by concerns that the gain from the rate hike could be over
Q4 pre-tax profit of $5.2 billion, better than analyst estimates Return on equity target not raised, Hong Kong shares fall 2.1% Special dividend of $0.21/share once asset sale in Canada is completed New share buybacks are being considered in Q1 2023 ‘Don’t cut costs’ – CEO; $300 million hit from the sale of operations in […]