CREDIT Suisse said 16 billion Swiss francs (S$23.1 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday.
AUSTRALIAN banks are “unquestionably strong” with solid capital and liquidity buffers, a senior Reserve Bank of Australia (RBA) official said, alleviating fears that stresses in the global financial system could hurt the nation’s big four lenders.
TURMOIL in the banking sector, hotter-than expected inflation data, and renewed hopes for a dovish Federal Reserve has Bitcoin reaching levels not seen in about nine months.
THE US Federal Reserve and other major central banks announced on Sunday a coordinated effort to improve banks’ access to liquidity, hoping to calm worries rattling the global banking sector.
THE People’s Bank of China’s (PBOC) surprise easing action late last week has fuelled speculation banks may cut lending rates in coming months to help strengthen the economy’s recovery.
SOME of the world’s largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG on Sunday to buy rival Credit Suisse Group AG in a historic deal.
SPREADS on Asian bank bonds widened less last week than those of lenders in other parts of the world, with analysts pointing to factors such as less hawkish central banks and stickier deposits as reasons to favour the notes.
