Tag: REGS
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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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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 […]
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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 […]
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Charles Schwab’s CEO says the company is liquid and not seeking capital or deals
NEW YORK, March 14 (Reuters) – Charles Schwab (SCHW.N) has enough liquidity, the bank and brokerage’s CEO said Tuesday, to allay concerns about a “doomsday” scenario following the bankruptcy of two US lenders since Friday. “We have not raised any capital and we are not in the M&A market at this time,” Walt Bettinger, CEO […]
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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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US organizes ‘material action’ to stop SVB outages
NEW YORK, March 12 (Reuters) – US authorities on Sunday were preparing “material action” to bolster deposits at Silicon Valley Bank (SVB) and try to mitigate any wider financial fallout from the sudden collapse of the technology-based startup-focused lender counter. sources familiar with the matter told Reuters. Officials in the Biden administration worked all weekend […]