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SVB Financial Group said on Friday (Mar 17) it filed for a court-supervised reorganisation under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by US regulators.

THE US Federal Reserve will raise interest rates by 25 basis points on March 22 despite recent banking sector turmoil, according to a strong majority of economists polled by Reuters, who were divided on the risks to their terminal rate view.

JUST As a week of global bank drama winds down, Friday’s (Mar 17) options expiration risks creating fresh turmoil for traders.

DEUTSCHE Bank paid chief executive Christian Sewing 8.9 million euros (S$12.7 million) in 2022, up slightly from 8.8 million euros a year earlier, the bank disclosed on Friday (Mar 17), rewarding him for a third consecutive year of profit and for hitting key milestones in the lender’s restructuring.

DIRECT exposures to recent failures from Silicon Valley Bank (SVB) and Signature Bank appear limited for Asia-Pacific banks under Fitch Rating’s coverage, the credit ratings agency said on Friday (Mar 17).

IT SEEMS like whenever there is a bit of jitter in the global banking world, Credit Suisse Group gets a beating. It needs to pre-emptively improve the public narrative before the crazy, rich, and anxious Asians pull all their money out of the Swiss bank.

A US$30 billion lifeline for First Republic Bank hosed down market fears about an imminent banking collapse on Friday (Mar 17), but a late tumble in the troubled US lender’s shares showed investors were still worried about cracks in the sector.

THE global cryptocurrency industry has been slammed by setbacks, scandals and high-profile failures in recent months, sparking a regulatory rush to protect consumers from fraud and scams.

NEW Zealand’s central bank said on Friday all banks in the country were currently operating above its minimum regulatory requirements and that it was closely monitoring the turmoil in global financial markets.

REGULATORY reaction to Silicon Valley Bank (SVB)’s troubles has revived fears of moral hazards and may have permanently expanded the government’s role in the pricey business of deposit insurance. Those are reasons for markets to be worried.