A credit crunch is a significant tightening of lending standards among banks. Loans are harder to get and become more costly. The banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank will likely lead small and midsize institutions to prioritize having a healthy balance sheet. The prospect of recession led banks … Read more
Talks over rescuing Credit Suisse rolled into Sunday as UBS sought $6 billion from the Swiss government to cover costs. UBS is under pressure from the Swiss authorities to take over its local rival to get the crisis under control, two people with knowledge of the matter said. Regulators want a resolution before markets reopen on Monday, but … Read more
A tumultuous week in the U.S. financial markets ended on an uncertain note Friday after a massive $30 billion injection of big-bank deposits into First Republic Bank failed to calm investors. Last week, the sudden meltdown of three U.S. banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began to rekindle concerns … Read more
The federal government helped Silicon Valley Bank and Signature Bank customers recover their funds this week, even if their deposits were uninsured. If other institutions fail in the future, customers may have to rely on FDIC insurance, Treasury Secretary Janet Yellen said this week. Importantly, FDIC insurance has limits. Here’s how to make sure your … Read more
The Federal Reserve likely will approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. A rate increase would come just over a week after the Fed other regulators rolled out an emergency lending facility to halt a crisis of confidence in the banking industry. “This might be … Read more
Bitcoin is up 50% this year despite the collapse of major crypto-focused banks, beating major stock indexes and commodities. On Jan. 1, bitcoin began trading at just over $16,500. On Wednesday, it was hovering around the $25,000 mark, thanks to a rally that began on Sunday. The recent rise has come as somewhat of a … Read more
2 Mins Ago Credit Suisse shares tumble ADR shares of Swiss lender Credit Suisse tumbled 21% in premarket trading. Saudi National Bank said it could not provide more funding, Reuters reported. “We cannot because we would go above 10%. It’s a regulatory issue,” Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday. The troubled … Read more