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The Latest Breaking News from SNB

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

Interest rates: why the Federal Reserve and Bank of England should still raise them (a bit)

What will the Federal Reserve and Bank of England do with benchmark interest rates in the wake of the banking crisis? Traditionally, controlling inflation has been the prime mandate of central banks.

The Conversation

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Credit Suisse shares slump 64% after UBS deal

LONDON/ZURICH: Shares in Credit Suisse dropped 64% after the market opened on Monday after rival UBS agreed at the weekend to take over the 167-year old bank for $3 billion.

Bangkok Post

UBS to buy crisis-hit bank Credit Suisse in bid to avoid financial chaos

Central banks around the world hail £2.7bn merger which saw Swiss government bend the rules for swift action

The Independent UK

What happened to Credit Suisse and what’s at stake if it goes bust? REDIRECTED

The Asian and Australian stock markets fell following the panic

The Independent UK

Credit Suisse bounces back but investors cautious

ZURICH: Credit Suisse rallied on the stock market Thursday after grabbing a $54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender's future.

Bangkok Post

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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

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.

Al Jazeera

More than £75bn wiped off FTSE 100 amid Credit Suisse crisis

Swiss bank’s shares fall to record low as top shareholder Saudi National Bank rules out more funding

The Guardian - UK

Swiss may face referendum on keeping cash

Swiss citizens are likely to vote in a future referendum on whether to enshrine the availability of cash in the constitution.

Bangkok Post

Saudi National Bank’s Third Quarter Profit up 18.7%

Saudi National Bank, the Kingdom's biggest lender, said on Sunday its net profit in the third quarter rose 18.7% from the same period year before on higher operating income and lower net impairments for expected credit losses. SNB posted net profit of 4.725 billion riyals ($1.26 billion) in the quarter,…

Asharq Al-Awsat

Swiss National Bank exits negative rates era with 0.75% hike

Switzerland exited the era of negative interest rates on Thursday when its central bank joined others around the world in tightening monetary policy more aggressively to combat resurgent inflation.

Reuters

Fight against inflation raises spectre of global recession

Analysis: Interest rate cuts show central banks willing to plunge economies into recession to halt price rises

The Guardian - UK

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The Times of India

Indians' funds in Swiss banks jump 50% to over Rs 30,000 crore; customer deposits up too

NEW DELHI/ZURICH: Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose…

The Hindu

Indian kitty in Swiss banks jumped 50% to over ₹30,000 crore in 2021

Surge in securities, institutional holdings takes deposits in Swiss banks to a 14-year-high

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