Banking Crisis

It's an almost farcical conclusion to 12 months of trading that saw rates on the benchmark - a global anchor for markets and US mortgage rates - tumble to as low as 3.25 per cent

But things are getting better and demand outlook remains strong

Economic expert Aswath Damodaran in his latest blog has said that the US can witness more dominos falling like the SVB

Last week, First Republic reported a more than $100 billion plunge in deposits in the first quarter that sparked a brutal sell-off in the lender's shares

Global economy was once again beginning to stare at the possibility of economic slowdown as fears re-emerged over the possibility of economic recession in the US owing to another banking crisis

Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said on Friday, in a highly-anticipated review of how the central bank failed to properly supervise the bank before it collapsed early last month. The report, authored by Federal Reserve staff and Michael Barr, the Fed's vice chair for supervision, takes a critical look at what the Fed missed as Silicon Valley Bank grew quickly in size in the years leading up to its collapse. The report also points out underlying cultural issues at the Fed, where supervisors were unwilling to be hard on bank management when they saw growing problems. The Federal Reserve did not appreciate the seriousness of critical deficiencies in the firm's governance, liquidity, and interest rate risk management. These judgments meant that Silicon Valley Bank remained well-rated, even as conditions deteriorated and significant risk to the firm's safety and ...

The Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry. The review, due to be released at 11 a.m. eastern, is expected to examine how regulators may have missed warning signs in Silicon Valley Bank's business and whether they could have been addressed before the bank failed. Further, the report is expected to look at what regulators could do better to prevent a similar bank failure in the future. Federal regulators seized Silicon Valley Bank on March 10 after customers withdrew tens of billions of dollars in deposits in a matter of hours. Two days later, they seized Signature Bank of New York. Although regulators guaranteed all the banks' deposits, customers at other midsize regional banks rushed to pull out their money often with a few taps on a mobile ...

"The quarter has come out weaker than what we originally anticipated and primarily coming out of North America," TCS CEO Rajesh Gopinathan said in a media conference

Earnings per share (EPS) for the six biggest US banks are expected to be down about 10 per cent from a year earlier, analyst estimates from Refinitiv I/B/E/S show

BlackRock's Financial Markets Advisory Group was established in 2008 to provide advice to governments, central banks and financial institutions

The solutions lie with the Fed, VCs, in-house management, and Silicon Valley itself

As Swiss officials and Credit Suisse executives emphasized this week that the firm's emergency sale staved off imminent collapse, they highlighted how sharp the run was

After years of scandal and losses, Credit Suisse came to the brink of collapse before UBS rode to the rescue with a merger engineered and bankrolled by the Swiss authorities

The concluding day of the meeting of Sherpas, who act as envoys of G20 heads of states, saw a session on the global macro-economic situation, where the financial crisis and its impact were discussed

North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world. The deal could reassure investors at a time of shaken confidence in banks, though the Federal Deposit Insurance Corp. and other regulators had already taken extraordinary steps to head off a wider banking crisis by guaranteeing that depositors in SVB and another failed U.S. bank would be able to access all of their money. Customers of SVB will automatically become customers of First Citizens, which is headquartered in Raleigh. The 17 former branches of SVB will open as First Citizens branches Monday, the FDIC said. European shares opened higher Monday, with German lender Commerzbank AG up 2.4% and BNP Paribas up 1.2%. Investors worry that other banks also may crumble under the pressure of higher interest rates. On Friday, much of the focus was on Deutsche Bank, who

In which we munch over the week's platter of news and views

After detailed deliberations, the Finance Minister advised PSBs to remain vigilant about the interest rate risks and regularly undertake stress tests

Deutsche Bank's AT1 bonds have tumbled in value after Switzerland wiped out Credit Suisse's securities in the deal for it to be taken over by UBS

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US banks, including Silicon Valley Bank, and a Swiss-orchestrated takeover of troubled lender Credit Suisse by rival UBS. The emergency actions on both sides of the Atlantic revived memories of the 2008 global financial meltdown and the ensuing EU sovereign debt crisis, which almost broke apart the euro currency now shared by 20 European countries. For the moment, we see no reason to be worried, Belgian Prime Minister Alexander De Croo told reporters on his way to the EU meeting. But we monitor it really closely, almost on a daily basis, because no one knows what can happen. The European economy has been slowing rapidly since Russia invaded Ukraine 13 months ago to the day, .

Bets that US central bank has finished raising rates cushion markets