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China regulator looking for buyers of SVB’s local venture

CHINESE regulators held a meeting with banks to gauge interest in taking over failed Silicon Valley Bank’s stake in a local joint venture in a bid to safeguard the banking system from the US lender’s collapse.

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This time, it’s different – it’s an interest rate issue, says top banking lawyer

NO lawyer was more at the centre of the 2008 financial crisis than Rodgin “Rodge” Cohen. The then-Sullivan & Cromwell chairman was a key adviser as the US Treasury, the Federal Reserve and the nation’s biggest banks crafted the bailouts and mergers that pulled the system back from the...

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Latest 6-month T-bill offers 3.85% yield amid market volatility

SINGAPORE’S latest six-month Treasury bill (T-bill) closed its auction with a cut-off yield of 3.85 per cent on Thursday (Mar 30).

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Latest 6-month T-bill offers 3.85% yield; demand falls as banking crisis weighs on rate hike expectations

SINGAPORE’S latest six-month Treasury bill (T-bill) closed its auction with a cut-off yield of 3.85 per cent on Thursday (Mar 30). This was higher than the last auction, but demand was lower as investors factored in the impact of the banking crisis on interest rates and expressed a preference...

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Citadel to resume hedge fund business in Japan with Tokyo office

KEN Griffin’s hedge fund firm Citadel is planning to set up a team in Tokyo, returning to Japan more than a decade after it shuttered operations there during the global financial crisis, according to a person familiar with the matter.

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Credit Suisse accused of aiding more tax evasion during broader tumult

CREDIT Suisse Group continues to help rich Americans hide assets from the IRS almost a decade after a unit pleaded guilty to a tax evasion conspiracy, the US Senate Finance Committee said, as the bank’s woes mount amid broader tumult in the industry.

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Fed official tells US Congress many to blame for Silicon Valley Bank failure

THE scope of blame for Silicon Valley Bank’s (SVB) failure stretches across bank executives, Federal Reserve supervisors and other regulators, the banking system’s top cop on Wednesday (Mar 29) told US lawmakers demanding answers for the lender’s swift collapse.

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Bank of America’s financial planning app draws US$55 billion over two-plus years

BANK of America Corp’s (BofA) digital personal finance tool, Life Plan, has attracted more than US$55 billion in new money since its launch in late 2020, as customers use technology to set financial goals.

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FDIC hires Newmark to sell US$60 billion of Signature Bank loans

THE Federal Deposit Insurance Corporation (FDIC) hired real estate advisory firm Newmark Group to sell about US$60 billion of Signature Bank loans, after the bank’s collapse into receivership amid turmoil that engulfed regional lenders.

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JPMorgan, Goldman plan to start trading private credit loans

WALL Street banks are looking to start trading private credit loans as they seek to make inroads into the lucrative world of direct lending, a potential first step that could ultimately reshape the largely buy-and-hold market.

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