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Credit Suisse AT1 bondholders consider possible legal action

LAWYERS from Switzerland, the United States and UK are talking to a number of Credit Suisse Additional Tier 1 (AT1) bondholders about possible legal action after the state-backed rescue of Credit Suisse by UBS wiped out AT1 bonds, law firm Quinn Emanuel Urquhart & Sullivan said on Monday (Mar...

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Asian central banks face little impact from US, Europe banking crisis

CENTRAL banks in Asia are unlikely to be greatly influenced by the banking crisis in the United States and Europe – but could feel less pressure to tighten policy if the United States Federal Reserve itself holds off on further rate hikes amid the fallout, said private-sector economists.

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The chief digital officer is also the chief collaboration officer: HSBC’s Shayan Hazir

SINCE taking on the role of chief digital officer for Asean at HSBC, Shayan Hazir finds himself spending a lot of time collaborating with key stakeholders in the region.

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SVB to be broken up and sold in two auctions

THE Federal Deposit Insurance Corporation (FDIC) on Monday (Mar 20) decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposits unit and its private bank, after failing to find a buyer for the failed lender last week.

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Bank stocks fall on Credit Suisse, adding to US$1 trillion wipeout

BANK stocks slumped on Monday (Mar 20) as investors reeled from the historic takeover of Credit Suisse that will wipe out a class of bondholders, adding to this month’s US$1 trillion plunge in global financial shares.

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Investors punish UBS after Credit Suisse rescue

SHARES in UBS plunged on Monday (Mar 20), heading for their biggest one-day fall since 2008, after its weekend rescue of ailing rival Credit Suisse ignited concerns among investors about the long-term benefits of the deal.

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Credit Suisse deal hands top holder US$1 billion investment loss

CREDIT Suisse’s top shareholder Saudi National Bank has seen the value of its investment plummet by about US$1 billion in a matter of months.

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Credit Suisse deal hands Saudi National Bank US$1 billion investment loss

CREDIT Suisse’s top shareholder Saudi National Bank has seen the value of its investment plummet by about US$1 billion in a matter of months.

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MAS to set up information-sharing platform to combat money laundering under new Bill

A FINANCIAL Services and Markets (Amendment) Bill was introduced in Parliament on Monday (Mar 20) to provide for information sharing when combating illicit financial activities.

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Eurozone bond yields drop as contagion risk spooks investors

EUROZONE government bond yields dropped on Monday (Mar 20) as risks of a banking crisis spooked investors. This came after UBS sealed a deal to buy Credit Suisse, and some of the world’s largest central banks teamed up to reassure markets.

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