Banking rules introduced following the global financial crisis more than a decade ago need “rethinking” to reflect how quickly cash can exit a lender in a digital age, former Bank of England Governor Mark Carney said on Tuesday.
Hedge fund Citadel’s flagship Wellington fund gained 1.38% last month when the failure of Silicon Valley Bank and Signature Bank triggered a sharp market selloff that sparked fears of a broader financial crisis.
The non-bank sector now accounts for half of the assets of the entire world financial system and should be more closely regulated to protect its stability, staff economists from the International Monetary Fund said on Tuesday.
Kuwait’s Agility said on Tuesday it entered into a derivative transaction known as a collar trade with banks to hedge its investment in Danish transport firm DSV.
TD Bank Group should abandon or renegotiate its $13.4 billion acquisition of U.S. lender First Horizon as the regional banking crisis has unearthed unknown risks, some small shareholders told Reuters.
Brazil’s BTG Pactual said on Tuesday it will launch a stablecoin priced in U.S. dollars at a parity of one to one, as it seeks to position itself in the digital assets market.
The Bank of England said on Tuesday it was censuring Wyelands Bank Plc – part of the Gupta Family Group (GFG) Alliance – for what it said were “wide-ranging significant regulatory failures” between December 2016 and May 2020.
Banks in the European Union must be “conservative” with dividends and other payouts after recent turmoil in the sector, and focus on keeping their cash buffers topped up, the European Union’s banking watchdog has told Reuters.
Credit Suisse’s chairman told a room full of shareholders that he was “truly sorry” the Swiss bank was not able to get back on track at its final annual general meeting on Tuesday, according to a manuscript of his speech.
