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The Latest Breaking News on Financial Services

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

Zenger

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.

Tribune News Service

Failed Signature Bank Finds a Buyer

The 40 branches of Signature Bank were acquired by a subsidiary of New York Community Bancorp on March 19.

The Street

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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

Caixin Global

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

Axios

First Republic Stock Plummets On S&P Downgrade, Possible JPMorgan-Lead Capital Raise

Reports of a possible share sale, and a second ratings downgrade deeper into 'junk' status, has First Republic trading firmly lower Monday.

The Street

Billions knocked off UK banking shares as financial fears linger after $3.3 billion Credit Suisse rescue

Interest rate rises look less likely as turmoil continues in financial sector as wider markets find support

Evening Standard

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Everyone take a deep breath -- our banks are ok

City Comment: A run on banks used to take weeks. Now it takes hours...

Evening Standard

What is Credit Suisse, why is it so significant and who rescued it from collapsing?

As Switzerland’s second biggest lender, Credit Suisse was considered one of the top 30 most important banks in the world

Evening Standard

Bank shares, oil prices slide despite Credit Suisse buyout

London (AFP) - Global bank shares and oil prices slumped Monday as a UBS buyout of Credit Suisse and reassurances from financial authorities failed to calm investors spooked by a fresh crisis.

AFP

UK and US shares climb as banks and ministers aim to calm Credit Suisse fears

FTSE 100 rises and European banking shares are up after early jitters over what UBS takeover deal means for bondholders

The Guardian - UK

Silicon Valley Bank's demise animates early days of California's 2024 US Senate contest

With a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts.

Los Angeles Times

Stocks plunge despite Credit Suisse buyout, central banks' pledge

Hong Kong (AFP) - Equities sank Monday on fears about the financial sector, despite news of UBS's takeover of embattled Credit Suisse and central bank pledges to provide liquidity to troubled lenders.

AFP

Thousands of City jobs at risk in Credit Suisse crisis as UBS takes over embattled bank

Investment bank, back office and technology jobs are set to be axed in London after UBS swallowed up Credit Suisse

Evening Standard

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Asharq Al-Awsat

Oil Falls More Than $2 on Banking Concerns, Likely Fed Rate Hike

Oil prices fell on Monday to their lowest in 15 months on concerns risks in the global banking sector may cause a recession that would lead fuel demand to decline and ahead of a potential hike in US interest rates this week. Brent crude futures for May settlement fell $2.32,…

Belfast Live

Ulster Bank plans major refresh of central Belfast branch

The move will see the branch adopt the style of flagship NatWest branches in cities across England and Wales

The Guardian - AU

Explainer: are we in a banking crisis?

The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing

Al Jazeera

US sees bank deposits stabilise even as some regional banks reel

Deposits in the country’s banking system are stabilising, Reuters reported citing unnamed US official.

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AFP

US regulator sells failed Signature Bank assets to another lender

San Francisco (AFP) - The US banking regulator has struck a deal to sell most of the assets of the failed Signature Bank to another institution, the agency said on Sunday.

The New Daily

RBA says it’s harder to break the bank in Australia

Reserve Bank assistant governor Christopher Kent says Australian banks are on a firm footing despite strained conditions in global financial markets.

Al Jazeera

Japan, Singapore and Hong Kong downplay Credit Suisse fallout

Asian financial authorities say Swiss lender’s takeover not likely to affect stability of local banks.

AFP

UBS takeover of Credit Suisse: the main points

Zurich (AFP) - The takeover of Credit Suisse by UBS will create a banking giant unprecedented in the history of Switzerland, where banking is a core part of the national identity.

France 24

New York Community Bank to buy large part of failed Signature Bank, US agency says

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday.

AAP

RBA says Australian banks strong despite global turmoil

Reserve Bank assistant governor Christopher Kent says Australian banks are on a firm footing despite strained conditions in global financial markets.

The Independent UK

UK banking system ‘safe and sound’ after Credit Suisse buyout, Bank of England says

Threadneedle Street has days before next interest rates call, as central banks signal more turmoil could follow

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