March 22 (Reuters) – A scramble by troubled U.S. lender First Republic Bank (FRC.N) for a capital injection on Wednesday rekindled concerns about the wider banking sector as authorities considered measures to further strengthen the financial stability. As recent market turmoil has eased, the Federal Reserve meeting later today is now a major concern for … Read more
March 21 (Reuters) – A lawyer for SVB Financial Group told a judge on Tuesday it was seeking cooperation from regulators who seized its Silicon Valley Bank unit and withdrew $2 billion from its liquidity, necessary to maintain operations. SVB Financial, which filed for bankruptcy on Friday, said in court papers that the US Federal … Read more
March 21 (Reuters) – As crisis grips the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency looks positively buoyant, much like a banking meltdown pushes markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 lost 1.4% … Read more
WASHINGTON, March 20 (Reuters) – Hard-line Republicans in the House of Representatives vowed on Monday to oppose any universal federal guarantee on bank deposits above the current limit of $250,000, throwing a major hurdle to a key tool regulators could deploy if banks rush again. as financial confidence falters. The Republican House Freedom Caucus said … Read more
March 20 (Reuters) – U.S. banking stocks rose on Monday and European lenders rebounded from a strong early sell-off after the state-backed takeover of Credit Suisse by UBS Group appeared to wipe out a source of concern for the global banking sector. In a package designed by Swiss regulators on Sunday, UBS Group AG (UBSG.S) … Read more
March 19 (Reuters) – Talks on bailing out Credit Suisse (CSGN.S) continued on Sunday as UBS AG (UBSG.S) demanded $6 billion from the Swiss government to cover costs if it were to buy his struggling rival, a person with knowledge of the talks said. Authorities are scrambling to resolve a crisis of confidence in the … Read more
March 16 (Reuters) – Several major banks are in talks to deposit billions of dollars at First Republic Bank (FRC.N), sources familiar with the matter said on Thursday, as the U.S. lender became the latest to be swept away by fears of a rapidly worsening banking crisis. The collapse of Silicon Valley Bank last week … Read more
WASHINGTON, March 16 (Reuters) – The U.S. banking system remains strong and Americans can be confident their deposits will be there when needed, Treasury Secretary Janet Yellen said on Thursday, although she denied that recent moves emergency following two major bank failures meant that a general government guarantee now existed for all deposits. In his … Read more
Stocks rise as Switzerland provides lifeline to Credit Suisse Bond yields rise, ECB expected to hike rates up to 50bps Oil rises from a 15-month low Graphic: world exchange rates LONDON, March 16 (Reuters) – European markets rebounded on Thursday as a 50 billion Swiss franc ($53.94 billion) lifeline for embattled lender Credit Suisse prepared … Read more
March 11 (Reuters) – The cost of expanding Medicare prescription drug coverage in the United States to pay for expensive new obesity drugs could be catastrophic, health economists have warned in a published report SATURDAY. Top-selling diabetes drugs have been repurposed as treatments for obesity after showing more than 20% weight loss in clinical trials. … Read more
