Tag: OFFER1
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Credit Suisse gained access to billions in liquidity over the weekend, says the Swiss finance minister
ZURICH, March 25 (Reuters) – Credit Suisse (CSGN.S) tapped the Swiss National Bank for “a large multibillion-dollar sum” over the weekend to secure its liquidity, the country’s finance minister Karin Keller-Sutter told me. Saturday to the Swiss broadcaster SRF. . The troubled Swiss bank had said last week it planned to borrow up to 50 […]
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Exclusive: Citizens Financial eyes bid on SVB private bank, sources say
NEW YORK, March 23 (Reuters) – Citizens Financial Group Inc (CFG.N) is preparing a bid to acquire the private banking business of bankrupt Silicon Valley Bank, two people familiar with the matter said Thursday. Citizens, one of the largest regional banks in the US, is preparing to bid for the auction of the company, which […]
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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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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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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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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 […]
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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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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 […]
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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 […]
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First Republic spoke with private equity before securing funding sources
NEW YORK, March 15 (Reuters) – First Republic Bank (FRC.N) spoke to at least one private equity firm about raising capital before it secured funding from JPMorgan Chase & Co (JPM.N) and US authorities intervened with support for the industry, said two sources familiar with the matter. The talks, previously unreported, shed new light on […]