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US banks have US$620 billion of unrealised losses on their books

THE investment losses that helped take down Silicon Valley Bank (SVB) are a problem, to one degree or another, across the US financial system. In total, the industry ended last year with US$620 billion of unrealised losses on its books from investments in low-yielding bonds.

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Crypto exchange Bittrex to exit US due to regulatory challenges

CRYPTO exchange Bittrex, founded in 2014 by three Amazon alumni, is shutting down its US operations, citing a regulatory environment that has made it “no longer feasible” to operate in the country.

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EU to ease process of winding down medium-sized banks

THE European Union intends to make it easier to wind down medium-size banks that fail by tapping national deposit guarantee systems for funding, Bloomberg News reported on Friday, citing people familiar with the matter.

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Asia infrastructure bank won’t get distracted by geopolitics, says president

THE Asian Infrastructure Investment Bank (AIIB) will stick to its mandate as an apolitical multilateral lender and won’t get dragged into political disputes, even as multilateralism is severely tested, its president, Jin Liqun, said on Friday (Mar 31).

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FDIC exercises US$500 million in First Citizens stock to close SVB deal

REGULATOR Federal Deposit Insurance Corporation (FDIC) exercised its equity appreciation right in First Citizens BancShares stock worth US$500 million as part of a deal for the regional lender to buy failed Silicon Valley Bank (SVB).

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China regulator asks East Money to take measures after breakdown

CHINA’S securities regulator on Friday (Mar 31) asked East Money Information Co to take rectification measures after the online securities broker’s trading system broke down on Mar 21.

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Issue 43: Consumers bite on banks’ green loans; people matter in Asean Taxonomy

In this issue: Singapore banks probably aren’t offering green consumer loans because environmentally conscious spenders are more creditworthy. On policy, the Asean Taxonomy now requires an assessment of a project’s social impact.

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Bank of Japan raises maximum amount of bond purchases for next quarter

THE Bank of Japan (BOJ) on Friday (Mar 31) raised the maximum size of its planned Japanese government bond (JGB) purchases for all maturities over the next three months, doubling down on efforts to defend its ultra-loose policy.

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DBS to set up special board committee to investigate online service disruption

DBS will set up a special board committee to look into the cause of the disruption to its digital banking services on Wednesday (Mar 29), the lender said at its annual general meeting (AGM) on Friday.

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DBS sets up special board committee to investigate online service disruption

DBS has set up a special board committee to look into the cause of the disruption to its digital banking services on Wednesday (Mar 29), the lender said at its annual general meeting (AGM) on Friday.

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