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Showing 11 - 20 of 189 results for "US Bank"

US default risk: Are credit default swaps signalling trouble?

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
A Western Asset product specialist says rising credit default swap (CDS) spreads have sparked concerns. However, he downplayed the risk of a US default, calling it a "very low probability event". Robert Abad recalled the sole instance of a "technical" ...

JPMorgan acquires First Republic Bank

CASSANDRA BALDINI  |  TUESDAY, 2 MAY 2023
... have full access to all their deposits, the FDIC said. The failure of First Republic, previously ranked the 14th largest US bank, is the second largest bank failure in the nation's history. Its demise marks the third bank collapse this year and the ...

JPMorgan among banks to bid in First Republic sale

CASSANDRA BALDINI  |  MONDAY, 1 MAY 2023
... the Fed, yet core issues were not resolved, and stronger oversight was not put in place. As it works hard to stop the US bank run contagion, it explained a focus going forward will be tougher regulation. "Our first area of focus will be to improve the ...

$100bn withdrawal triggers First Republic stock plunge

ANDREW MCKEAN  |  WEDNESDAY, 26 APR 2023
... expenses and short-term borrowings." Banking sector turmoil began with the collapse of Silicon Valley Bank, the largest US bank failure since Washington Mutual in 2008, and then continued with the failure of New York Signature Bank. Previously, JBWere ...

Pension fund ousts chief over US bank losses

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
The chief executive of Sweden's Alecta was let go by the fund as it looks to recover from large losses resulting from investments in Silicon Valley Bank, Signature Bank and First Republic Bank. Overnight, Magnus Billing was axed as chief executive with ...

US Fed hikes rates amid banking turmoil

ANDREW MCKEAN  |  THURSDAY, 23 MAR 2023
Amid banking turmoil, the US Federal Reserve announced a rate hike to combat inflation. Recent economic indicators revealed modest growth in US spending, production, and strong job gains, with low unemployment and persistent inflation concerns. As such ...

UBS throws $4.8bn lifeline to Credit Suisse

CASSANDRA BALDINI  |  MONDAY, 20 MAR 2023
UBS has agreed to acquire the embattled Credit Suisse for $4.8 billion. As part of the deal, the Swiss National Bank (SNB) will provide an additional $160 billion (CHF 100 billion)) in liquidity assistance to support the merge. UBS plans to appoint ...

ASX shifts slightly on Credit Suisse, First Republic

CASSANDRA BALDINI  |  FRIDAY, 17 MAR 2023
The ASX rebounded slightly this morning following the overnight bailouts of First Republic Bank and Credit Suisse, but has since remained unsteady. This mornings slight jump - 0.3% - was pretty modest, CommSec senior economist Ryan Felsman told Financial ...

Fink warns of "slow rolling crisis"

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
In his annual letter to investors, BlackRock chair Larry Fink has said it's unclear what impact the collapse of Silicon Valley Bank and others this past week will truly have, saying they are just one element of the "price we're paying for decades ...

No systemic risk with SVB, but issues remain: Experts

CASSANDRA BALDINI  |  WEDNESDAY, 15 MAR 2023
The failure of Silicon Valley Bank (SVB) doesn't point to a systemic issue, however the banking crisis in the US may be far from over, experts say. The failure of SVB was mainly due to an asset-liability mismatch, which resulted in material losses ...