Page 2 - Credit Suisse

Steep correction

Market valuations are becoming reasonable

Credit Suisse customers feel mix of anger, relief after sale to UBS

Fury at top Credit Suisse managers. Lament over damage to Switzerland's image as a stable, reliable banking centre. Relief that authorities stepped in to help protect deposits, but worry about keeping cash invested in a bank that failed to manage its own money adequately. On Swiss streets, emotions were running the gamut among Credit Suisse customers after the government this weekend orchestrated a takeover of the country's second-largest bank by rival UBS a bid to prevent further upheaval in the global financial system that began with the collapse of two U.S. banks. How the merger, with a fire-sale price of 3 billion Swiss francs ($3.25 billion), will play out and its impact on worldwide finance are largely unknown. That has left those stuck in the middle customers and bank workers uncertain about what comes next in the deal to create one Swiss megabank. My money is already invested in two or three banking establishments, customer Elisabeth Pictet said after exiting the bigges

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UBS is buying Credit Suisse's greenhouse emissions burden too: Report

Just as UBS is sorting through Credit Suisse's assets, properties and personnel, it's also taking on its former rival's carbon emissions

How Indian tech cos banded together to help each other during SVB crisis

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

After UBS merger, Credit Suisse planning layoffs in India back offices

Credit Suisse's equity strategists Neelkanth Mishra and Ashish Gupta recently quit and joined the Axis Bank group. These positions are likely to be filled by USB analysts

Who are the owners of the risky, worthless Credit Suisse's AT1 bonds?

Big money managers such as Pacific Investment Management Co. and Invesco Ltd. are among the largest holders, owning around $807 million and $370 million, respectively

PNB, IOB, DCB bank to offer AT1 bonds; may have to offer premium rates

It is important to note that AT1 bonds are unsecured, perpetual bonds that banks issue to improve their core capital base

What are AT1 bonds, and why are Credit Suisse's worth $17 bn now wiped out?

The wipeout of $17 billion worth of AT1 bonds in the UBS-Credit Suisse deal has spooked investors as they now assess if this can happen to their AT1 holdings in other banks as well

Swiss govt temporarily suspends bonus payouts to Credit Suisse staffers

Switzerland's government said Tuesday that it's ordering Credit Suisse to temporarily suspend bonuses for employees after orchestrating a plan for the No. 2 Swiss bank to be taken over by rival UBS. The Swiss Department of Finance says federal law allows the government to set remuneration-related measures in cases involving Switzerland's biggest banks. Late last week and into the weekend, authorities in Switzerland, backed by the central bank and financial regulators, scrambled to cobble together a $3.25 billion sale of Credit Suisse to UBS. An outflow of deposits and years of trouble raised fears that it could fail and trigger an international financial crisis after the collapse of two U.S. banks. The Swiss government says it doesn't plan to block bonus payments from last year that have been granted but are set to be immediately paid because it doesn't want to penalise Credit Suisse employees who did not cause the crisis. But authorities in the capital, Bern, said they will prohi

Credit Suisse failure unlikely to spook AT-1 bond investors in India

PNB likely to issue AT-1 bonds worth Rs 2,000 cr this week; yields not seen surging

Swiss are on the hook for $13,500 each on Credit Suisse bailout

Govt to make as much as 109 billion Swiss francs available - a burden on the nation of 8.7 million

UBS on track for biggest gain since Mar 2020 post Credit Suisse takeover

UBS Group AG jumped as much as 10%, on track for its biggest gain since March 2020, as investor optimism about the takeover of its largest rival gathered pace

Banking crisis: It's time for a relook at funding ecosystem for start-ups

The crisis in global banking has unsettled the Indian start-up ecosystem and raised afresh the old question of overdependence on offshore investors

Credit Suisse takeover; Moody's downgrades outlook for UBS to negative

Rating agency Moody's has cut the outlook on UBS Group's debt to negative following its takeover of Credit Suisse,

Shares rise after Credit Suisse deal, but investors fear another surprise

Global shares rose, after the rescue of Credit Suisse arrested a rout in bank stocks, but signs of stress in the financial system are making investors wonder if another lender may deliver a surprise

Bank stocks steady after Credit Suisse rescue, focus turns to Fed, US banks

The demise of 167-year-old Credit Suisse was triggered by the collapse of U.S. mid-sized lenders Silicon Valley Bank (SVB) and Signature Bank, and investors are concerned about potential bombs ticking

Credit Suisse crisis likely to make rich Indians wary of wealth managers

"In the past 15 years or so, many multinational financial institutions have come and exited Indian markets and the latest incident was making wealthy investors nervous"

Indian banks' dependence on AT1 bonds limited, impact on pricing: Analysts

"Another instance of AT-1 bond write-off questions seniority of claims of AT-1 bond holders and dampens sentiments for AT-1 market issuances," Citi analysts wrote in a note

Top headlines: UBS needs RBI nod for C-Suisse, windfall tax on oil slashed

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