UBS Group’s emergency buyout of Credit Suisse Group threatens to drastically shrink the financing options for small and mid-sized companies, after the demise of a 166-year-old champion of Swiss entrepreneurship.
UBS Group’s abrupt takeover of Credit Suisse may mark the beginning of the end for one of the industry’s more notorious franchises.
THE multi-regulator US Financial Stability Oversight Council agreed on Friday (Mar 24) that the US banking system remains “sound and resilient” despite stress on some institutions, the US Treasury said in its latest statement to calm jittery markets and bank depositors.
FORMER Goldman Sachs banker Roger Ng, who was sentenced to 10 years in prison for his role in the global 1MDB fraud, was ordered to forfeit US$35.1 million by a judge who rejected his claims that Malaysia already took all of his money.
DEPOSITS at small US banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday (Mar 24) by the Federal Reserve showed.
UNICREDIT is leaning towards repaying a perpetual bond at the earliest opportunity in June, a source close to the matter told Reuters, in a move to show it has ample capital while keeping funding costs in check as markets reel from a crisis of confidence.
DEUTSCHE Bank shares plunged the most in three years on Friday (Mar 24), suggesting that a week of soothing words from central bankers and politicians have failed to calm broad worries about the financial sector.
DEUTSCHE Bank shares plunged the most in three years on Friday (Mar 24), suggesting that a week of soothing words from central bankers and politicians have failed to calm broad worries about the financial sector.
GLOBAL banking regulators will step up scrutiny of how risks from systemically important shadow banks could destabilise lenders, a top banking regulator said on Friday (Mar 24) as central bankers home in on the huge funds industry.
EUROPEAN Central Bank head Christine Lagarde told EU leaders eurozone banks were resilient because they have strong capital and liquidity positions, but that the ECB could provide liquidity if needed, EU officials said on Friday (Mar 24).











