Page 5 - Credit Suisse

Credit Suisse got a $54 bn lifeline, now it needs to win back clients

In Asia, several ultra-wealthy clients continued to cut back their exposure amid the tumult this week. In the Middle East, some customers asked the bank to convert cash deposits into treasury bills

UBS Group, Credit Suisse oppose idea of forced merger, says report

Wall Street bank JPMorgan on Wednesday said that Credit Suisse's takeover by another lender, probably UBS, was the most likely scenario for the embattled bank

Credit Suisse $54 billion lifeline offers limited respite to global banks

The European banking index, initially rose following the intervention, but was virtually flat by 1130 GMT

ECB hikes rate by 50bps to 3.5% despite bank chaos; highest since Oct 2008

The European Central Bank has carried through with a large interest rate increase Thursday, brushing aside predictions it might dial back as U.S. bank collapses and troubles at Credit Suisse fed fears about the impact of higher rates on the global banking system. The ECB hiked rates by half a percentage point Thursday, underlining its determination to fight high inflation. In a post-meeting statement, the bank called the banking sector in the 20 countries using the euro currency resilient, with strong finances. It says it's monitoring current market tensions closely and stands ready to respond as necessary to preserve price stability and financial stability in the euro area. ECB head Christine Lagarde said last week that it was very likely the bank would raise its benchmarks by a half-percentage point, part of a series of rapid rate hikes aimed at getting inflation down from 8.5% far above the bank's target of 2%. That was before Silicon Valley Bank in the U.S. went under last we

Bank stocks can slide more; stay away for now: Analysts

Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time

Credit Suisse shares soar by 30% after Swiss central bank aid announced

Credit Suisse's shares soared 30 per cent on Thursday after it announced it will move to shore up its finances by borrowing up to nearly USD 54 billion from the Swiss central bank, bolstering confidence as fears about the banking system moved from the US to Europe. It was a massive swing from a day earlier, when shares of Switzerland's second-largest commercial bank plunged 30 per cent on the SIX stock exchange after its biggest shareholder said it would not put more money into the Swiss lender. That dragged down other European banks after the collapse of some US banks stirred fears about the health of the global banks. Credit Suisse, which was beset by problems long before the US bank failures, said Thursday that it would exercise an option to borrow up to 50 billion francs (USD 53.7 billion) from the central bank. This additional liquidity would support Credit Suisse's core businesses and clients as Credit Suisse takes the necessary steps to create a simpler and more focused bank

Softer impact of Credit Suisse crisis likely on Indian banks: Jefferies

Credit Suisse has a 1.5% share among foreign banks' assets in India and a 'small' 0.1% share of overall banking assets in the country, Jefferies estimated

Credit Suisse more relevant to Indian banking sector than SVB: Jefferies

Credit Suisse owns more than 200 billion rupees ($2.4 billion) of assets in India, making it the 12th largest offshore lender, according to Jefferies

Nifty 50 index heads for technical correction amid global turmoil

Rising interest rates, coupled with this year's rout in the Adani conglomerate's stocks, have also weighed on the local market

Panic over bank crisis sparks flight to safe haven currencies including yen

In the latest blow to investors' confidence in the financial sector, Credit Suisse's shares on Wednesday plunged as much as 30%, after its largest shareholder said it could not provide further support

Swiss central bank throws lifeline to Credit Suisse after shares pummelled

Swiss regulator FINMA and the nation's central bank sought to ease investor fears around Credit Suisse, saying it "meets the capital and liquidity requirements imposed on systemically important banks"

Credit Suisse explodes into full-blown crisis as stocks, bonds crater

The stock fell as much as 31%, hitting record lows, and prices on its benchmark bonds sank to levels that indicate the Swiss lender is in deep financial stress

Credit Suisse default swaps 18x UBS Group AG, 9x Deutsche Bank

One-year credit default swaps for the embattled Swiss lender were indicated at 835.9 basis points on Tuesday's close of business

Indices dip for fifth session as Credit Suisse woes weigh on investor minds

The only relief for investors on Wednesday was a rise in retail sales in China while factory output was fractionally lower than projected

Credit Suisse left in the lurch, sparks selloff across global markets

Asked whether Saudi National Bank was open to further cash injections, Chairman Ammar Al Khudairy said "absolutely not."

Neelkanth Mishra resigns from Credit Suisse, to head research at Axis Bank

He is part of Indian Prime Minister Narendra Modi's Economic Advisory Council and head of research at Credit Suisse's local unit, according to the bank's website

Credit Suisse leads Europe bank stock rout after short-lived SVB respite

A fresh 18% drop in embattled Swiss lender Credit Suisse led the wider European banking index lower

European bank stocks under pressure; Credit Suisse tumbles to a new low

Investors rushed back into safe-havens, with two-year German bond yields down 21 basis points at 2.71%

Credit Suisse Group reveals 'material' lapses in financial reporting

Credit Suisse was forced to delay the release of its annual report from last week after the Securities and Exchange Commission raised last-minute queries on cash-flow statements from 2019 and 2020

Credit Suisse sees First Boston IPO by 2025 amid investor search

Credit Suisse announced earlier today that senior leaders in the carved-out unit are expected to receive up to 20% of shares