The Swiss decision has led some Credit Suisse AT1 bondholders to consider legal action, and it sparked uncertainty for bondholders around the world. “We wanted to tell it very clearly to the investors, to avoid to be misunderstood: we have no choice but to respect this hierarchy,” the chair of the EU’s Single Resolution Board … Read more
44 Mins Ago European stocks open higher European stocks were higher early Monday, with the Stoxx 600 index up 0.5% at 8:20 a.m. London time. Oil and gas stocks climbed 1.44%, mining stocks were up 1.36% and banks continued to regain some positive momentum, up 1.2%. See Chart… Stoxx 600 index. An Hour Ago Bailey: … Read more
35 Mins Ago First Citizens to buy parts of Silicon Valley Bank First Citizens Bank agreed to buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation announced early Monday. “The 17 former branches of Silicon Valley Bridge Bank, National Association, will open as First–Citizens Bank & Trust Company on Monday, March … Read more
An Hour Ago European banking stocks slide Bank stocks slid at the open Monday, with Credit Suisse and UBS driving the fall. Banking stocks were down 2.75% by 9:17 a.m. London time, paring some losses. Credit Suisse shares were down 58%, while UBS recovered slightly to trade 9% lower by 9:17 a.m. London time after … Read more
3 Mins Ago Credit Suisse shares down almost 24%; multiple halts try to prevent further decline Shares of Credit Suisse were down 23.79% around 11 a.m. London time. Trading was halted multiple times by the stock exchange operator as the stock plummeted. The price was halted at $1.7430 just after 11 a.m. London time. — … Read more