AUSTRALIAN and New Zealand Banking Group’s CEO said on Monday the latest turmoil in the global banking system had the potential to trigger a financial crisis though it was early to predict it could bring one similar to that in 2008.
MORE than S$3.5 billion in home, renovation and car loans were extended by OCBC under its “Eco-Care” loan programme since its introduction in March 2021, said the bank on Monday (Mar 27).
INVESTORS holding on to Additional Tier-1 (AT1) bonds could face difficulty getting their money back if there are clauses in a bond’s contracts that allow the bondholders’ priority to be revoked in the event of a restructuring.
A SWISS bank perpetual note was recently in our portfolio, and I was none the wiser on its inherent risks – until the unprecedented, total writedown of Credit Suisse’s entire 16 billion Swiss francs worth of perpetuals.
INTERNATIONAL Monetary Fund chief Kristalina Georgieva warned on Sunday (Mar 26) that risks to financial stability had increased and stressed “the need for vigilance” following the recent turmoil in the banking sector.
CREDIT Suisse Group (CS) faces the threat of a possible probe and disciplinary action over how top managers ran the bank in the lead-up to its collapse and takeover by UBS Group, Switzerland’s banking regulator told NZZ am Sonntag.
STANDARD Chartered said on Sunday (Mar 26) that it plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East.
UBS Group’s emergency buyout of Credit Suisse Group threatens to drastically shrink the financing options for small and mid-sized companies, after the demise of a 166-year-old champion of Swiss entrepreneurship.
