50 More US Banks Could Fail – Lehman VP
Another 50 regional banks in the US could fail in the US banking crisis if authorities do not take immediate action to resolve structural issues in the sector, according to…
Elon Musk Says All Deposits Must Be Insured By Government
In a Twitter post on Tuesday, Elon Musk proposed that the only way to keep panicked depositors from pulling their money out of US banks would be to do away…
Credit Suisse Deal Casts Shadow Over Swiss Banking Sector
In an interview with CNBC on Tuesday, Opimas CEO Octavio Marenzi said that Switzerland’s once stellar reputation as a global financial hub is being undermined by the fiasco surrounding the…
Indonesia Introduces Its Own Credit Card System
The Bank of Indonesia is setting the stage to phase out Visa and Mastercard, in favor of a new domestic payment system it is introducing, according to a Monday report…
G7 Central Banks Act To Boost Dollar Funding
In a joint statement, the US Federal Reserve and five other major central banks announced they are launching a coordinated effort to increase the flow of US dollars throughout the…
European Bank Stocks Fall As UBS-Credit Suisse Merger Fails To Calm Fears
On Monday, Switzerland’s two largest investment banks, UBS and Credit Suisse, saw their stock prices plummet as news of their weekend merger failed to calm a jittery market that remains…
Russia Bans SWIFT System
On Monday The Bank of Russia announced all Russian financial institutions will be banned from using the SWIFT messaging system for transactions inside the country. As of October all Russian…
Biden Administration Talking To Buffet About Banks
On Sunday, Bloomberg reported that sources within the Biden administration were saying senior US officials have been in talks with the Oracle of Omaha, Warren Buffet, on the unfolding banking…
UBS Buys Out Credit Suisse
By Sunday afternoon, USB had solidified a takeover of Credit Suisse as markets watched wearily, uncertain if this was a sign of the end of the banking crisis, or just…
Almost 200 American Banks At Risk Of Collapse
A new paper from the Social Science Research Network released this week makes the case that almost 200 American banks are facing risks similar to those which led to the…
