THE recent rout in bank shares will not result in a significant hit to commodities finance for major trading firms, the chief financial officers of the biggest energy traders told the Financial Times Commodities Global Summit on Wednesday (Mar 22).
PLANS to vastly expand the Federal Deposit Insurance Corporation’s (FDIC) safety net restored investor confidence in banks such as First Republic and in the US stock market this week, but these moves could well stall or even backfire.
THE banking turmoil sparked by the collapse of Silicon Valley Bank is not yet over, and a significant number of banks will fail within two years, the CEO of hedge fund Man Group told a Bloomberg conference in London on Wednesday (Mar 22).
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.
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.
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.
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.
