The Lima Stock Exchange closed the session of this Tuesday, March 21, with gains in most of its indices, recording 14 upward indicators and 2 downwards. Thus, the S&P/BVL Peru General Index, the most representative of the Lima stock market, rose 1.02% to 21,653.54 points. For his part, he S&P/BVL Peru Selective Indexwhich is made […]
Tag: federal Reserve
Yellen pledges to protect bank deposits, but more might be needed
The banking system of USA It is stabilizing after strong action by regulators, but further action may be necessary if smaller banks experience deposit runs that threaten further contagion, Treasury secretary is scheduled to tell bankers on Tuesday. Janet Yellen. In excerpts from remarks prepared for a conference before the American Bankers Association, Yellen said […]
Federal Reserve Oversight Comes into Question After Silicon Valley Bank Collapse
The supervision work carried out by the Federal Reserve (FED) with the Silicon Valley Bank (SVB) has been located in the eye of the hurricane, after the collapse of the entity, with the Democratic senator Elizabeth Warren calling this Sunday March 19 for an independent investigation into the possible failures. In a letter, Warren asked […]
US banks ask authorities to protect all deposits
A group of medium-sized banks of USA asked the federal regulatory authority to guarantee all its clients’ deposits for two years, even above the usual limit of $250,000, to avoid a contagion phenomenon after the bankruptcy of the bank BLSreported the Bloomberg agency. This measure “It would immediately stop the exodus of customers from smaller […]
Credit Suisse faces a crucial weekend with its future up in the air
Credit Suisse Group AG is headed for a decisive weekend after some rivals were cautious in their dealings with the troubled Swiss entity and its regulators urged it to seek a deal with UBS AG. Credit Suisse’s chief financial officer, Dixit Joshiand their teams will hold meetings over the weekend to assess strategic scenarios for […]
First Republic shares plunge nearly 33% despite $30 billion support
The actions of the First Republic Bank they plunged almost 33% on Friday, leaving them down more than 80% in the last 10 sessions, despite a bailout package with $30 billion in deposits injected by big US banks. The embattled lender was in talks to raise money from other banks or private equity firms by […]
Will taxpayers pay for US bank failures?
The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. Dollars. Will taxpayers end up paying for it, one way or another? And what will be the price? It could be months before we know the answers. President Joe Biden’s government has said it will guarantee uninsured […]
OECD rules out risk of “systemic crisis” after bankruptcy of SVB in the US.
The OECD ruled out this Friday that there is a risk of “systemic crisis” comparable to that of 2008, days after the bankruptcy of the North American bank BLSwhich sparked a wave of stock market panic among bank stocks. “We are in a very different situation than in 2008″, said at a press conference in […]
$54 billion bailout for Credit Suisse gives limited respite to global banks
Credit Suisse It tried to shore up its liquidity and restore investor confidence on Thursday by borrowing up to $54 billion from the Swiss central bank, though the move offered only limited respite to global bank stocks. The Swiss bank is the first major world bank to be thrown an emergency lifeline since the 2008 […]
US banking system is ‘solid’, says Yellen
The banking system of USA is strong despite the recent turmoil caused by the failure of three banks, including the iconic start-up financier Silicon Valley Bank (SVB) and the SignatureBankthe Treasury secretary said Thursday, Janet Yellen. Three consecutive bankruptcies in the banking sector in less than a week mark the worst bankruptcies since the 2008 […]