Europe’s banks face less threat from some of the problems now showing in the commercial real estate markets than their U.S. counterparts, analysts at JPMorgan have said.
Uncertainty triggered by the global banking sector turmoil may generate a persistent increase in funding costs for Spanish lenders and require a thorough assessment of sources of funding and liquidity, senior Bank of Spain officials said.
Corporate finance directors are scrutinising who they bank with in the wake of recent market tensions but there is no rush for the exit for now, France’s corporate treasury association said on Tuesday.
Further relief from the U.S. bank stocks rout may have to wait until banks report quarterly results starting next month, which strategists said could give more details about the sector’s overall health after the recent collapse of some big regional players.
Recent volatility in Deutsche Bank shares was concerning as it showed investors were on edge and could be spooked by moves in the small market for credit default swaps (CDS), European Central Bank supervisor Andrea Enria said on Tuesday.
Mass Ave Global, a New York-based hedge fund with $1.1 billion of assets under management, has decided to close its China and Asia-focused funds, letters to investors seen by Reuters showed.
Bank of England officials said on Tuesday the central bank was on alert amid global turmoil in the banking sector but added that Britain was not experiencing stress linked to the demise of Silicon Valley Bank and Credit Suisse.
Nestle will examine its banking relationships following the planned takeover of Credit Suisse by UBS , the food group’s Chief Executive Mark Schneider said on Tuesday.
Mid-sized U.S. lenders are getting creative as they try to hang onto customer deposits after two bank failures rattled consumers and spurred a $119 billion exodus from small institutions in recent weeks.
Australia’s biggest lenders said on Tuesday the domestic financial sector was unlikely to be caught in turmoil engulfing rivals in the US and Europe, but warned that raging competition to sell home loans and attract deposits was hitting margins.
