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The Latest Breaking News on Financial Services

Bank turmoil casts shadow over Europe interest rate decision

Concerns about the world's banks are casting a shadow over the European Central Bank's meeting

The Independent UK

US banks are sacrificing poor communities to the climate crisis

It took decades to force banks to abandon racist redlining. We don’t have decades to avert catastrophic climate crisis

The Guardian - US

SET chief allays fear about Credit Suisse

The president of the Stock Exchange of Thailand (SET) has rushed to calm investors’ concerns regarding the troubles of Credit Suisse and global anxiety about banks in general.

Bangkok Post

From analysis to the latest developments in health,
read the most diverse news in one place.

Thai banks see little impact from global rout

Local banks foresee only a small impact from the troubles facing Credit Suisse and some banks in the United States due to their low external exposures and strong capital positions, according to the Thai Bankers’ Association.

Bangkok Post

ECB’s Lagarde insists banks much stronger than in 2008 after raising interest rates despite Credit Suisse turmoil – as it happened

ECB presses on with 0.5 point increase in eurozone interest rates, and says it stands ready to respond to market turmoil

The Guardian - UK

‘The first Twitter-fuelled bank run’: how social media compounded SVB’s collapse

The speed at which Silicon Valley Bank collapsed has left experts questioning whether social media has opened up entirely new risks in the world of finance

The Guardian - AU

Credit Suisse Says It Will Borrow Up to $53.7 bn from Central Bank

Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices. The disclosure came just hours after the Swiss National Bank said capital and liquidity levels at the lender were adequate for a "systemically…

Asharq Al-Awsat

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AP News Digest 3:30 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

The Independent UK

Arrogance, Incompetence or Both: What SVB’s Failure Really Means

The implosion of Silicon Valley’s favorite bank, which became increasingly dependent on venture capital and private equity, was rooted in hubris as much as its balance sheet.

Businessweek

Credit Suisse to borrow up to $54 billion from central bank after shares plunge

Swiss bank Credit Suisse said Thursday it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States.

France 24

Credit Suisse to borrow $54 billion from Swiss central bank

Swiss bank Credit Suisse says it will move to shore up its finances, borrowing up to $54 billion from the central bank after its shares plunged, dragging down other major European lenders in the wake of bank failures in the United States

The Independent UK

Credit Suisse says it will borrow up to $53.7bn from central bank

ZURICH: Credit Suisse announced Thursday that it would borrow almost US$54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices.

Bangkok Post

Credit Suisse takes $54bn loan from Swiss central bank after share price plunge

After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’

The Guardian - AU

Banking fears spread to Europe, dragging down shares of big lenders

On the heels of bank failures in the U.S., shares of European bank Credit Suisse fall, prompting concerns about the health of the global banking system.

Chicago Sun-Times

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The Independent UK

FACT FOCUS: Claims link ‘woke’ policies to bank’s demise

Some social media users are honing in on a single culprit that led to the demise of Silicon Valley Bank: its socially aware, or “woke,” agenda

The Independent UK

Senior Democrats hand back Silicon Valley Bank donations following bank’s collapse

Federal regulators seeking to sell bank

Bangkok Post

Is SVB the canary in the coal mine?

Should the rest of the world be worried about the collapse of Silicon Valley Bank last week? SVB was the 16th largest bank in the United States, with about $210 billion (7.3 trillion baht) in assets and a market valuation of $44 billion at its peak.

Bangkok Post

Mutual and pension funds tamp down concerns

The Association of Investment Management Companies (AIMC) and the Government Pension Fund (GPF) yesterday issued a statement announcing they have no direct investment in the assets of the collapsed Silicon Valley Bank (SVB).

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news in one place.

100’s of premium titles.
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Bangkok Post

Ttb eyes transition to cashless branches

TMBThanachart Bank (ttb) plans to transition some of its traditional branches to paperless and cashless outlets in an effort to increase its digital banking user base by 30% this year.

Bangkok Post

Arkhom pledges stability after poll

The government is ready to take action, even in a caretaker position before the next administration takes power, should global volatility affect the country's economy or financial system, Finance Minister Arkhom Termpittayapaisith told reporters.

Tribune News Service

US bank stocks sink as Credit Suisse fear spurs renewed rout

Stocks of major U.S. lenders sank with a sector gauge hitting the lowest level since November 2020 on Wednesday, following European banks down after Credit Suisse Group AG plunged.

The Independent UK

FTSE 100 hit by worst day since Covid as Credit Suisse raises fears of fresh banking crisis

‘If the bank fails, this could have major implications for other European banks’

Salon

Warren bill: Repeal "Trump's bank law"

Notably absent from the list of co-sponsors were Dems who helped Republicans usher the bill through Congress

Al Jazeera

Credit Suisse to borrow up to $54bn amid banking crisis fears

Announcement comes after Zurich-based bank’s shares lost more than one-quarter of their value in a day.

The New Daily

Alan Kohler: The Fed broke something, so the rate hikes are finished

US rate hikes only ever have a gradual impact on households, while in Australia the effect on the household sector is dramatic and immediate.

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Arkhom Termpittayapaisith

Pakorn Peetathawatchai

Chavinda Hanratanakool

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European Central Bank

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