The fallout from the crisis of confidence in Credit Suisse and the failure of the two U.S. banks could ripple through the financial system this week, the two executives separately told Reuters on Sunday.
Credit Suisse shares lost a quarter of their value last week. The bank was forced to tap $54 billion in central bank funding as it tries to recover fromexamining imposing losses on Credit Suisse bondholders as part of a rescue of the bank, two sources with knowledge of the matter said on Sunday. However, European regulators are apprehensive about such a move for fear that it could hit investor confidence elsewhere in Europe's financial sector, the sources said, speaking on the condition of anonymity.to help broker a deal, Bloomberg reported, while Sky News said the Bank of England has indicated to international counterparts and to UBS that it would back the proposed takeover of Credit Suisse, which counts Britain as a key market.
Reporting by Stefania Spezzati, Oliver Hirt and John O'Donnell; Additional reporting by Reuters bureaus; Writing by Lincoln Feast, Conor Humphries and Nick Zieminski; Editing by William Mallard, Kirsten Donovan, Barbara Lewis, Hugh Lawson, David Holmes and Lisa Shumaker
Empires begin to crumble............
Bad scenario: The collapse of U.S. lenders Silicon Valley Bank and Signature Bank, coupled with the crisis of confidence in Credit Suisse, could lead to a contagion effect in the global banking sector, causing market-shaking turmoil and potentially hitting investor confidence.
احمد_الحسن
Watching these bank tickers tomorrow
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Hopefully this will bring stability to the concerns of the financial markets