U.S. Treasury Secretary Janet Yellen said she remained vigilant to downside risks facing the global economy, given the negative economic consequences of Russia’s war against Ukraine and recent pressures on banking systems in the United States and elsewhere.
The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels.
Blackstone Inc said on Tuesday it had raised $30.4 billion for its latest global real estate fund, as the private equity behemoth looks to double down on the industry.
Central banks should not halt their fight against inflation because of financial stability risks, which look “very much contained,” International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters.
Greece’s four largest banks will absorb any further interest rate hikes on mortgage loans for 12 months from May to help households cope with rising housing costs, two banks and the country’s finance minister said on Tuesday.
French bank Credit Agricole has called on the European Union to address what it says is an unfair system of funding for the bloc’s banking sector safety net.
Credit Suisse has already paid back some of the emergency liquidity offered by the Swiss National Bank (SNB), data suggested on Tuesday, signaling an ebbing of the liquidity crisis which triggered the lender’s fall.
Credit Suisse and UBS must freeze any job cuts planned as part of their emergency merger, the Swiss Bank Employees’ Association (SBPV) said on Tuesday, in an open letter to the country’s parliament.
Swedish pension fund Alecta on Tuesday fired its CEO Magnus Billing with immediate effect following the recent announcement of large losses from investments in several U.S. banks.
