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The Latest Breaking News from Credit Suisse

What central banks are doing to safeguard financial stability and why they must proceed with caution

Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major central banks announced a coordinated effort to boost the flow of US dollars through the global financial system.

The Conversation

"Badwill" hunting: The difference between the bank failures of 2008 and today

The difference between the bank failures of 2008 and today.

Axios

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

The Independent UK

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Bank of England ‘vigilant’ in wake of Silicon Valley Bank collapse, says Bailey

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

The Guardian - UK

Can Australia’s banks withstand the contagion stalking the global finance sector?

The seeds of a shock have been planted. The question is whether that will grow into a threat to bank stability and the broader economy

The Guardian - AU

Markets spooked by Deutsche Bank

Analysts have raised concerns about the growing risk of a Deutsche Bank collapse, reigniting fears about a widening banking crisis, though they said the potential impact on the Thai banking sector would be limited.

Bangkok Post

US Financial Stocks Plummet On Fears Of Contagion After Deutsche Bank Selloff

The stability of Deutsche Bank could put Europe in panic mode as two of the major US banks have collapsed in the wake of a crisis

Zenger

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Banking crisis has ‘definitely’ tipped the U.S. closer to recession, warns top Fed official who was at the center of the 2008 bailout

“Not all of these stresses are behind us," warns Minneapolis Fed President Neel Kashkari, the former administrator of the Troubled Asset Relief Program.

Fortune

Bank failures have 'increased' threats to global financial stability, IMF says

Global economic growth was expected to slow this year, but this month's banking crises have raised the risk of even bigger problems.

Fortune

Head of Credit Suisse's Saudi investor who sparked a stock panic quits for ‘personal reasons’

The Saudi National Bank torpedoed its own $1.6 billion investment after its ill chosen words obliterated any remaining confidence in the Swiss lender.

Fortune

Saudi National Bank chair resigns after Credit Suisse comments

Ammar Al Khudairy’s remarks about Swiss lender spurred investor panic that led to emergency takeover

The Guardian - UK

Hedge fund made $30 million in days thanks to a well-timed bet on Credit Suisse’s problems

The NYC-based fund won big from Credit Suisse’s demise.

Fortune

When Credit Suisse ruled the IPO game

In the '90s, Frank Quattrone put Silicon Valley—and Credit Suisse—on the map.

Fortune

Family run US bank rescues tech lender Silicon Valley Bank

FAILED tech lender Silicon Valley Bank was taken over today by First Citizens in a deal that will cost about $20 billion but offered hope that the crisis of confidence in the global banking system could be easing.

Evening Standard

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The Guardian - UK

Markets rally despite banking fears; UK retailers turn optimistic after bleak winter – as it happened

Shares in First Citizens Bank surge 45% as it agrees to buy much of Silicon Valley Bank, while Saudi National Bank’s Ammar Alkhudairy resigns

Al Jazeera

Banking sector sees boost as First Citizens acquires failed SVB

SVB’s purchase gives markets some respite amid growing concerns over financial health of global banking system.

Barchart

The Fed Speaks- Inflation Remains the Enemy

The U.S. central bank remains unphased by the recent upheaval in the banking sector as it continues to battle inflation by tightening credit. The Fed allowed inflationary pressure to mount in 2021, waiting too long to boost interest rates, pushing inflation to the highest level in four decades. In 2023,…

Bangkok Post

Thailand unscathed by Western banking turmoil

Most economists from the public and private sectors expect the ongoing US and European banking crisis to have a limited effect on the Thai banking sector thanks to the solid fundamentals of local banks and the strong supervision of the Bank of Thailand.

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The Guardian - UK

IMF chief warns global financial stability at risk from banking turmoil

Kristalina Georgieva joins others in voicing fears about threat to world economy after recent bank collapses

Fortune

The ‘too big to fail’ regime for banks just doesn’t work, Swiss minister says. ‘The economic damage would be considerable’

A restructuring or liquidation would have triggered “major international upheaval," said finance minister Karin Keller-Sutter.

Fortune

How Credit Suisse redefined the IPO market during the Dot-Com boom—then lost its grip and spiraled into scandal

In the glory days of Credit Suisse, investment banker Frank Quattrone helped put Silicon Valley on the map.

ABC News

Another major international bank shows first signs of financial distress

With global financial markets changing in an instant, several major banks have felt its wrath so far. Friday night, Germany's Deutsche Bank was in the firing line.

Bangkok Post

Lingering bank worries keep lid on Asian shares

RECAP: Asian shares came under pressure yesterday after lingering banking stability concerns gripped Wall Street, while bond markets bet that recent rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year.

Bangkok Post

Prepare to invest amid falling interest rates

The global economic and investment picture this month is strikingly different from last month. In our article last month "Global and Thai economy in a no-landing scenario", we warned about rising risks, even as others predicted a "no landing" situation, or an economy that can continue without slowing down or…

Roll Call

Is this crisis (really) like 2008? - Roll Call

Amias Gerety, former Treasury Department official, discusses what’s new, and what’s different in the SVB and Credit Suisse banking turmoil

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People

Arkhom Termpittayapaisith

Pakorn Peetathawatchai

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