CUSTOMERS Bancorp, a regional lender that rode the crypto wave last year, fell 24 per cent on Monday amid a wider selloff of financial stocks stemming from the collapse of Silicon Valley Bank.
TURMOIL continued to engulf shares in banks as investors rushed to reduce exposure to the banking industry after seeing equity stakes wiped out at Silicon Valley Bank and Signature Bank.
TREASURY two-year yields plummeted to their lowest level this year as government bonds surged in a rush for havens, with investors betting that the collapse of three US lenders will compel policymakers to halt monetary tightening.
US PRESIDENT Joe Biden declared the American banking system “safe” and vowed stiffer bank regulations, after regulators were forced to step in with a series of emergency measures following the collapse of Silicon Valley Bank (SVB) and Signature Bank.
STUNNED by the sudden collapse of Silicon Valley Bank, the main go-to foreign bank for the majority of Chinese startups, entrepreneurs and venture funds are scrambling for alternatives despite US regulators averting a banking crisis by guaranteeing all deposits of the troubled bank.
GLOBAL banking shares plunged on Monday (Mar 13) as moves by the United States to guarantee deposits at collapsed tech-focused lender Silicon Valley Bank failed to reassure investors that other banks remain financially sound.
CALIFORNIA-BASED Silicon Valley Bank (SVB) collapsed late last week following a bank run sparked by panic over its financial health. Halfway around the world in Singapore, corporate lawyer Joel Shen’s phone began ringing non-stop.
US FEDERAL Reserve officials will meet next week again as they chase persistent inflation, but now having to balance that against the first acute tremors from the aggressive interest-rate hikes that the central bank approved over the past year.
CREDIT Suisse shares on Monday (Mar 13) reached a new record low in early morning trading on Switzerland’s stock exchange.
CREDIT Suisse shares on Monday (Mar 13) reached a new record low in early morning trading on Switzerland’s stock exchange.








