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The Latest Breaking News on Financial Services

First Citizens submits offer for all of failed SVB: Source

Separate bids for the commercial and private banks due this week

Axios

Markets hold their nerve in Europe as key interest rate decisions loom

Investors are looking ahead to a brace of potentially explosive interest rate decisions later in the week

Evening Standard

Yellen says bank situation 'stabilizing,' system is 'sound'

Treasury Secretary Janet Yellen is trying project calm after recent regional bank failures in California and New York

The Independent UK

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Analysts pick modest Fed rate increase

Kasikorn Research Center (KResearch) expects the Federal Reserve to increase interest rates by 0.25% on Wednesday to tame inflation as the banking crisis in the US and Europe has eased somewhat.

Bangkok Post

Saudi National Bank Says Credit Suisse Crisis Has No Impact on Growth Plans

In light of the repercussions of the crisis experienced by the Credit Suisse Group, the second largest bank in Switzerland, which has been operating for 167 years, the Saudi National Bank announced on Monday that any change in the fair value of its investment in the Swiss group would not…

Asharq Al-Awsat

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

The Independent UK

Until bankers have more to lose themselves, collapses like SVB and Credit Suisse will keep happening

Those at the top need to have skin in the game – and know that risky decisions they make will affect them too, says economist Natacha Postel-Vinay

The Guardian - UK

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Credit Suisse and SVB: Is global banking in crisis?

Economists caution against comparisons to 2007-08 bank failures despite persistent market turmoil.

Al Jazeera

Perth Mint 'co-operating' with financial crime auditors

Chairman Sam Walsh insists Perth Mint has improved its processes as an audit examines historical non-compliance with anti-money laundering obligations.

AAP

Signature Bank threw a fundraiser for the congressman now probing how it failed

WASHINGTON — Ten days before Signature Bank collapsed, the House Republican overseeing an inquiry into the bank’s failure was inside its boardroom on New York’s Fifth Avenue.

Tribune News Service

Gold skyrockets as banks still wobble

Gold prices passed US$2,000 for the first time in more than a year on Monday as UBS's recent takeover of its Swiss rival Credit Suisse for $3.2 billion failed to assure investors about ongoing bank woes.

Bangkok Post

ASX gains strongly as RBA confirms it will 'reconsider' a rates pause in April — as it happened

Banks lead US stocks higher amid bailout optimism, as the ASX recovers most of yesterday's fall. Follow the day's events and insights as they happened with our business reporters on the ABC News live markets blog.

ABC News

First Republic Bank shares sink to another record low, but stock markets are calmer

Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.

WEKU

Banking turmoil questions answered: What it means for you, your mortgage and your pension

Financial authorities are now trying to prevent problems spreading throughout the global banking system and a repeat of the disastrous financial meltdown of 2008

Daily Mirror

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Evening Standard

Why are banks collapsing? Signature Bank and SVB fail as UBS buys Credit Suisse

The aftermath of the SVB collapse led to heavy losses on the London Stock Exchange and a sharp fall in US banking stocks

The Guardian - UK

First Republic’s shares crash more than 46% after downgraded credit rating

The US bank may need to raise more funds despite a $30bn rescue last week

The Guardian - UK

What are AT1 bank bonds – and why are Credit Suisse’s wiped out?

Global banking system is under pressure amid row over who should lose out first when a bank struggles

The Independent UK

Will the Credit Suisse bank takeover calm financial fears?

Globally connected Credit Suisse has been taken over by rival UBS at the urging of Swiss authorities to avoid a collapse that could have sent shock waves through the global economy

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news in one place.

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StockNews.com

3 Top Stocks to Buy During a Recession

Although the Fed might opt for a softer stance on the rate hike at the policy meeting this week, the fears of further aggressive rate hikes later this year remain. This, along with the banking crisis, is fueling recession concerns. Therefore, investing in defensive stocks McDonald’s (MCD), Elevance Health (ELV),…

The Independent UK

How is the global banking crisis impacting the US and what is being done to solve it?

Collapse of Silicon Valley Bank sparks collapse of confidence in markets

The Times of India

PSU banks' gross NPA declines to 5.53%

NEW DELHI: The government has taken various reforms following which asset quality of public sector banks has improved significantly with gross NPA ratio declining from the peak of 14.6 per cent in March 2018 to 5.53 per cent in December 2022, Parliament was informed on Monday.

Zenger

Ackman Says Bank Of America Will Buy Signature Bank Monday, Predicts Crisis Of Confidence

Billionaire investor Bill Ackman said Friday that Bank of America will buy Signature Bank on Monday as other banks face peril

Tribune News Service

US banks on bumpy path as First Republic’s troubles persist

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

Caixin Global

Opinion: What China Can Learn From SVB’s Collapse

The U.S. response to Silicon Valley Bank’s failure can offer valuable insights to China’s banking industry, an economist says

Axios

Is it time to raise the FDIC deposit cap?

As it stands, things are murky: The cap exists, but it could be waived for banks that seem important enough

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