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What the loss of Silicon Valley Bank means for Silicon Valley

SILICON Valley is a tough place to be a banker. Startup bosses call with references but no revenue. Loans can seldom be secured against physical assets. Many clients fail.

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Malaysia says its banks have limited exposure to Silicon Valley Bank crisis

MALAYSIA’S government on Wednesday (Mar 15) said the country’s banks have limited exposure to Silicon Valley Bank that collapsed last week in the United States, triggering fear of contagion.

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All Sibor retail loans to be converted to reference Sora in June 2024

ALL outstanding Singapore Interbank Offered Rates (Sibor) retail loans will automatically be converted to reference Singapore Overnight Rate Average (Sora) in June 2024, said the steering committee for Sor & Sibor transition to Sora (SC-STS) on Wednesday (Mar 15).

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Australia bad loans to rise, banks can take shocks: CFR

AUSTRALIA’S slowing economy and rising interest rates are likely to drive higher housing and business loan losses for banks, regulators said, while adding that lenders’ “unquestionably strong” capital requirements mean they can withstand any shock.

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Signature Bank faced criminal probe ahead of firm’s collapse

US prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend, according to people familiar with the matter.

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HSBC cuts base pay for promoted bankers by 25% before UK reform

HSBC Holdings is cutting the base pay it offers some newly-promoted senior investment bankers in the UK by a quarter, ahead of a rule change that would allow higher bonuses.

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SVB caretaker urges depositors to come back

THE head of Silicon Valley Bridge Bank, created by federal regulators to succeed Silicon Valley Bank after it collapsed, on Tuesday urged depositors who fled to return with their money so the bank can get back on its feet.

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CLSA to double South-east Asia investment bank team in five years

CLSA plans to double the number of investment banking staff it has in South-east Asia over the next five years, according to a senior executive, as the arm of one of China’s largest state-owned conglomerates, Citic Group, seeks to tap into the region’s rapid growth.

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Crypto firms move cash to asset managers including Fidelity as banking crisis deepens

A RISING number of companies in the digital-asset sector are reaching out to asset managers such as Fidelity Investments to invest their cash in products like Treasuries in the aftermath of the recent collapse of several crypto friendly US banks.

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HSBC starts to dig into what it bought from Silicon Valley Bank

WHEN acquiring a bank over a weekend, certain details might slip. In the case of HSBC Holdings snapping up Silicon Valley Bank’s (SVB) UK arm that includes the specifics of what was bought.

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