Switzerland’s troubled Credit Suisse and its rescuer, USB, are subject to an investigation into whether bankers helped Russian oligarchs evade Western sanctions, according to a media report. Some major U.S. banking institutions are also under scrutiny within the probe initiated by the Justice Department, sources say. Credit Suisse, US Banks Investigated for Suspected Sanctions Violations…
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An indicator of European bank default risk soars and stocks tumble on March 24 amid renewed fears surrounding the financial system. European banks are going into the weekend with renewed fears surrounding their future, as shares of Deutsche Bank plunged over 7% on the New York Stock Exchange on March 24 after a down day on…
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On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar…
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A bank rescue plan for Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse Group AG. A rescue plan for Swiss banking giant Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse Group…
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Swiss authorities agreed to change the country’s regulations to bypass a shareholder vote and announce the deal over the weekend. UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times…
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After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the…
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A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.” UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s…
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Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year. Major Banks Predict More Fed Rate Hikes As the U.S. Federal Reserve continues its…
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With atomic settlement technology, the company said its digital bond settles through the SIX Digital Exchange (SDX), not requiring a central clearing counterparty. Swiss investment bank UBS AG introduced its hybrid digital bond on Nov. 3, claiming to be the world’s first publicly traded bond that’s settled on both blockchain-based and traditional exchanges. According to…
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Analysts believe the possibility of a recession in the US is increasing and this could be an important stress test for cryptocurrencies. On Aug. 30, global investment bank UBS increased its view on the risk of the United States entering a recession within one year to 60%, up from 40% in June. According to economist…
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