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Eurozone bond yields drop as contagion risk spooks investors

EUROZONE government bond yields dropped on Monday (Mar 20) as risks of a banking crisis spooked investors. This came after UBS sealed a deal to buy Credit Suisse, and some of the world’s largest central banks teamed up to reassure markets.

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Switzerland wakes up to new era after historic bank merger; employees ‘shocked‘

SWITZERLAND awoke to a new era on Monday (Mar 20) after UBS swept up Credit Suisse in a government-brokered rescue that dented the country’s long-held pride in its banking expertise.

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Indonesia central bank governor gets approval for new term from parliament body

INDONESIA’S central bank governor Perry Warjiyo secured on Monday (Mar 20) approval from a key parliamentary body for his reappointment for a second term, after pledging to maintain a “pro-stability” monetary stance until 2024.

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Signature Bank’s crypto business wasn’t part of takeover deal

SIGNATURE Bank’s crypto-related deposits will be returned to customers directly, rather than being taken over by a unit of New York Community Bancorp under a deal announced on Sunday (Mar 19).

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Philippine finance chief sees quarter-point rate hike or halt

THE Philippine central bank may increase its key rate by 25 basis points or leave it unchanged at its policy meeting on Thursday (Mar 23), Finance Secretary Benjamin Diokno said.

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What sets Singapore banks apart from Credit Suisse: Phillip Securities

PHILLIP Securities said it remains positive on Singapore banks despite the recent collapse of Swiss banking giant Credit Suisse, resulting in a government-brokered takeover by rival UBS.

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Banking crisis in US, Europe has no direct impact on Singapore’s monetary policy: Alvin Tan

NEAR-TERM shocks, such as the ongoing banking crisis in the United States and Europe, have no direct impact on Singapore’s monetary policy, which is focused on the medium term, said Minister of State for Trade and Industry Alvin Tan in Parliament on Monday (Mar 20).

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UBS CEO warns staff Credit Suisse ‘is still our competitor’

UBS Group chief executive officer Ralph Hamers has warned staff not to talk about business matters with counterparts at Credit Suisse Group, following the announcement of their government-brokered combination.

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Credit Suisse’s 9,000 job cuts are foretaste of UBS takeover

EVEN before Credit Suisse Group’s government-brokered takeover, the Swiss lender was in the process of cutting 9,000 jobs in an effort to save itself.

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Credit Suisse tells staff bonuses will still be paid, go to work

CREDIT Suisse Group told staff that promised bonuses and pay increases will still be paid as the bank seeks to keep “business as usual” after a tumultuous week that ended in a takeover by its fiercest Swiss rival.

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