ASIA-PACIFIC banks’ additional Tier 1 bonds contain the same clause invoked by a Swiss regulator to fully write down such debt issued by Credit Suisse, according to research firm CreditSights.
HSBC has moved its head of markets in Greater China, Justin Chan, to become an adviser to its co-CEOs in Asia Pacific, according to an internal memo seen by Reuters on Friday (Mar 24).
BANKING stocks fell again on Friday (Mar 24) after a tumultuous week, with investors worried that the worst problems in the sector since the 2008 financial crisis were not yet contained.
MIDDLE Eastern investors are becoming more cautious of making fresh investments in global banks, after emerging as some of the hardest hit by the Credit Suisse Group crisis.
UBS promised retention packages to wealth-management staff in Asia at Credit Suisse, two people with knowledge of the matter said, as the bank tries to stem a talent exodus after the takeover of its former Swiss rival.
BANKING stocks were among the least shorted ahead of the Silicon Valley Bank (SVB) failure, based on February 2023 data published by S&P Global Market Intelligence on Thursday (Mar 23).
AS a series of US lenders were besieged by customers yanking out their money this month, banking behemoths including JPMorgan Chase & Co, Citigroup and Bank of America warned employees: Do not make it worse.
UBS Group wealth boss Iqbal Khan is working the phones and criss-crossing the globe to thwart the potential loss of top Credit Suisse Group bankers and clients as competitors seek to exploit the turmoil surrounding the Swiss lender.
US TREASURY Secretary Janet Yellen sought to reassure jittery investors that American bank deposits were safe and promised policymakers had more firepower to battle any crisis even as bank stocks resumed their slide on Thursday.
