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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 […]

  • 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 […]

  • The quest for safety is easing as markets process Credit Suisse’s bailout

    Credit Suisse plunges more than 60% after an emergency takeover over the weekend European Banks Backtrack Some Ground After Initial 5% Drop Treasury bonds and gold rise as investors seek safety Wall Street opens flat, First Republic Bank collapses LONDON, March 20 (Reuters) – European banking stocks fought back from an early slump on Monday […]

  • 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 […]

  • Equity futures rise higher on Credit Suisse buyout

    SINGAPORE, March 20 (Reuters) – US stock futures rose in Asian trading on Monday in relief following a weekend bailout for Credit Suisse, though the mood was jittery and financial stocks remained weighed down by contagion fears, even with support from global central banks. S&P 500 futures rose 0.5% in bumpy early trading. Japanese Nikkei […]

  • 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 […]

  • 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 […]