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Surging demand for derivatives is fuelling Bitcoin’s resurgence

THE forces that have re-awakened crypto prices have aroused activity in the digital-assets derivatives market too.

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Minimal exposure to Credit Suisse AT1 debt for unit trusts, but far more for fund houses

FUND houses have turned out to be sizeable holders of Credit Suisse’s now-worthless Additional Tier-1 (AT1) bonds. But the exposure appears minimal at the individual fund level.

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Pimco, Invesco face losses in Credit Suisse debt writedown

PACIFIC Investment Management Co (Pimco) and Invesco are among the largest holders of Credit Suisse’s so-called Additional Tier-1 (AT1) bonds that have been wiped out after the bank’s takeover by UBS.

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World Bank chief urges China to restructure poor nation debt

THE outgoing World Bank chief called on China to be more active in restructuring discussions for developing countries in debt crisis.

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Japan’s Rakuten plans to list banking unit in US$800 million IPO

JAPAN’S Rakuten Group is planning an initial public offering (IPO) of its banking arm next month, in a probable US$807 million listing that would test demand for the e-commerce giant’s online lender amid market uncertainty.

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UBS offers to buy back bonds sold days before Credit Suisse deal

UBS Group is offering to buy back 2.75 billion euros (S$3.95 billion) worth of bonds it issued last Friday, just days before the bank said it would acquire troubled rival Credit Suisse Group following hastily arranged crisis talks.

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Singapore banks do not share similar risks leading to Credit Suisse AT1 write-off: CGS-CIMB

THE conversion of Credit Suisse’s Additional Tier 1 (AT1) bonds into equity was likely “idiosyncratic” in nature, and does not reflect the outcome of other AT1 securities in the system – which include those issued by Singapore banks, CGS-CIMB said on Tuesday (Mar 21).

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In just over a week, four banks have failed. Are there more land mines waiting to blow up other banks?

1. What happened? SILVERGATE Capital in the US was the first to collapse, done in by its exposure to the crypto industry’s meltdown. Silicon Valley Bank (SVB) was next, killed by the amount and speed of withdrawals by its startup-centred customers.

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Citadel Securities boosts China presence as peers cut costs

CITADEL Securities is planning to bolster business in China while it hires across Asia, expanding in the region at a time when most financial firms are cutting costs.

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Credit Suisse staff face more deferred pay pain on Swiss ban

CREDIT Suisse Group’s bankers had deferred bonuses frozen by the Swiss government, adding pain to awards that were already decimated by the firm’s share plunge.

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