Tag: INVS08
-
SVB Financial Group accuses FDIC of cutting off the money
March 21 (Reuters) – SVB Financial Group (SIVB.O) said on Tuesday that the US Federal Deposit Insurance Corporation had taken “improper actions” to close it off from cash held at its former subsidiary Silicon Valley Bank, which has been banned by regulators seized to stop a run on the national bank. SVB Financial made the […]
-
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 […]
-
Hardline US Republicans Oppose Bank Deposit Guarantees Above $250,000 Limit
WASHINGTON, March 20 (Reuters) – Hardline Republicans in the House of Representatives vowed Monday to oppose any universal federal guarantee on bank deposits above the current limit of $250,000. while financial confidence wavers. The Republican House Freedom Caucus said in a statement that the Federal Reserve should wind down its extraordinary funding facility created March […]
-
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 […]
-
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 […]
-
US sees deposits stabilize while some regional banks falter
WASHINGTON/NEW YORK, March 19 (Reuters) – A US official said on Sunday that the deposit outflows that rocked many regional banks in the wake of Silicon Valley Bank’s failure had slowed, and in some cases reversed, as investors sought to secure whether the crisis had been contained. Shares of regional banks such as First Republic […]
-
BlackRock’s Hildebrand is reportedly taking part in talks with UBS and Credit Suisse
March 18 (Reuters) – BlackRock Inc (BLK.N) Vice Chairman Philipp Hildebrand joins talks as Swiss officials try to broker a deal for UBS Group (UBSG.S) to acquire Credit Suisse Group AG (CSGN.S) take), Bloomberg News reported Saturday, citing unidentified sources. When asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview that […]
-
Wall St Week Ahead: Declining Bond Yields Bolster Equities Allure Ahead of Fed Meeting
NEW YORK, March 17 (Reuters) – US equities have gained an unexpected ally in recent days: a historic fall in bond yields. U.S. Treasury yields fell sharply this week, with some maturities marking the biggest declines in decades, as investors bet the Federal Reserve is likely to curb its aggressive rate hike to prevent the […]
-
UBS is in talks to acquire Credit Suisse-FT
17 March (Reuters) – Banking giant UBS (UBSG.S) is in talks to acquire all or part of Credit Suisse (CSGN.S). Times reported Friday. The Swiss National Bank and regulator FINMA are organizing the talks in an effort to build confidence in the country’s banking sector, the report said, citing people familiar with the matter. On […]
-
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 […]