The G20’s financial watchdog on Thursday recommended a blueprint for banks to report cyberattacks in a common format in a bid to speed up responses to hacking and limit the fallout on financial stability.
Britain’s biggest asset manager, Legal & General Investment Management (LGIM), said on Thursday it would back a number of climate-focused shareholder resolutions at the annual meetings of eight leading U.S. and Canadian banks.
Bank of England Governor Andrew Bailey said bank reforms enacted after the global financial crisis of 2007-09 worked during the recent banking turmoil, but there were questions about whether banks should set aside bigger cash buffers in future.
White House economic adviser Lael Brainard said on Wednesday the U.S. banking system is “sound” and stable after two bank failures last month, but institutions that fail to show investors they are managing risks effectively may come under market pressure.
Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, can not be overturned.
Euro zone banks bolstered their capital buffers and cut their bad debts in the final quarter of 2022, while higher interest rates boosted lending margins, European Central Bank data showed on Wednesday.
Italian residents’ deposits with domestic banks fell in February for a fourth month, hitting their lowest level in just over two years as rising interest rates and high inflation prompted savers to seek remuneration for their cash, data showed.
The G20’s financial watchdog on Wednesday said rules it introduced after the global financial crisis had prevented contagion from the latest banking sector turmoil, but it would remain vigilant as the outlook has become more challenging.
