Banking stocks steady after Credit Suisse rescue as focus turns to Fed

"This time, major central banks have been reacting very swiftly to backstop liquidity. U.S. officials are also studying ways to temporarily guarantee all bank deposits if the banking crisis expands," Tam said.

But Credit Suisse CEO Ulrich Koerner, who was expected to attend dropped out and the event was closed to media.Policymakers from Washington to Europe have repeatedly stressed that the current turmoil is different from the global financial crisis 15 years ago, pointing to banks being better capitalised and funds more easily available.

If reporting yesterday was true, it wasn't rescued. Instead, $17 billion of bonds designed to convince investors to invest in risky banks was repudiated, and the will of Credit Suisse shareholders was overridden to force a fire sale price.

Scam bank

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Credit Suisse and banking crisis, Fed meeting, Nike earnings top week aheadThe future of First Republic Bank and Credit Suisse will dominate the headlines in the coming week ahead of the Federal Reserve's decision on interest rates.
La source: FoxBusiness - 🏆 458. / 53 Lire la suite »

UBS is buying Credit Suisse in bid to halt banking crisis | CNN BusinessSwitzerland's biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month. Can’t wait for black Monday tomorrow Capitalism at work Okay
La source: CNN - 🏆 4. / 95 Lire la suite »