banking crisis
Economy
Yanis Varoufakis States “Let The Banks Burn”
Former Finance Minister of Greece, economist Yanis Varoufakis, proposes a digital alternative to private banking, provided by central banks.
Business
First Citizens Bank to Buy Silicon Valley Bank Deposits and Loans
First Citizens Bank & Trust Co will buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday, potentially calming markets after the biggest U.S. banking collapse since Lehman Brothers.
The deal includes purchasing approximately $72...
Business
What is Systemic Risk and How Does it Lead to a Banking Crisis?
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By Spiros Bougheas
The recent collapse of Silicon Valley Bank (SVB), a regional US bank that funded start-up companies in the technology and innovation sector, has created a worldwide wave of financial instability.
Despite the efforts of US financial regulators to...
Business
US Raises Interest Rates Despite Banking Crisis
The US central bank has raised its key interest rate by 0.25 percentage points, despite fears that the move could aggravate the global banking crisis.
Wednesday's rate rise is the ninth in a row by the Fed. It lifts its...
Business
Will First Republic Bank Survive the Storm?
Shares of First Republic Bank continued their free-fall despite a rare move by the biggest U.S. banks to pump $30 billion into the regional lender.
The company's stock plunged more than 47% on Monday, while trading was halted numerous times...
Business
Bitcoin Surges as Crisis Hits Global Banking
Bitcoin was close to nine-month highs on Monday and had its best week in four years as the global banking crisis drives some investors to turn to digital assets.
The biggest cryptocurrency by market value hit its highest since June...
Business
UBS Agrees To Buy Credit Suisse For More Than $2 Billion
Credit Suisse has accepted a takeover offer of over $2 billion by UBS, in a historic government-brokered rescue deal.
Business
Credit Suisse Borrows $54bn from Central Bank as Fears of Global Crisis Grow
Banking giant Credit Suisse secured a deal on Wednesday to borrow up to $54bn from the Swiss Central Bank to shore up its finances as authorities try to avert a global financial meltdown.
Shares in Credit Suisse fell 24 percent...
Economy
Biden Promises Stricter Banking Regulations After SV Bank Collapse
On Monday, United States President Joe Biden sought to reassure Americans that the banking system is "safe" following the collapse of Silicon Valley Bank (SVB).
The president also promised to introduce new banking regulations and made further assurances to United...
Business
Dexia Receives Injection On Grexit Fears
Dexia, a Franco-Belgian bank, will receive another stimulus package from Belgium and France, due to heavy losses during the previous term. The extra funding is estimated at 5.5 billion euros ($7 billion) and is only one of many stimulus...