Asia-Pacific markets rose after Wall Street saw gains on optimism led by regional banks

CNBC Pro: RBC names 5 global financial stocks to buy right now as banks sell off Recent share price declines in European financial institutions have presented a buying opportunity, according to RBC Capital Markets. The investment bank named five stocks to buy during the share price decline, noting that these financial institutions are not the … Read more

IMF bullish Sri Lanka’s economy will recover as it gets $3 billion bailout

A man waves Sri Lanka’s national flag after climbing a tower near the presidential secretariat in Colombo on July 11, 2022, after it was flooded by anti-government protesters. (Photo by ARUN SANKAR/AFP via Getty Images) Arun Sankar | Afp | Getty Images The International Monetary Fund has finally approved a $3 billion bailout package for … Read more

What happens during a ‘credit crunch’ and how you can prepare for one

Tetra pictures | Tetra pictures | Getty Images The recent banking crisis has raised concerns about a “credit crunch” and the resulting negative impact on households, businesses and the US economy. But what is a credit crunch and how can you prepare? Loans would be harder to get During a credit crunch, banks tighten their … Read more

The Federal Reserve is expected to raise interest rates again. What it means to you

Price increases, a year later For its part, the Fed has already raised its benchmark funds rate eight times over the past year to the current level of between 4.5% and 4.75%. The federal funds rate, set by the central bank, is the rate at which banks borrow and lend to each other overnight. But … Read more

UBS shares fall after bailout of rival Credit Suisse

The logos of Swiss banks Credit Suisse and UBS on March 16, 2023 in Zurich, Switzerland. Arnd Wiegmann | Getty Images News | Getty Images Shares of Swiss credit collapsed 62% on Monday morning, while UBS down nearly 14% after the latter secured a 3 billion Swiss franc ($3.2 billion) “emergency bailout” of its beleaguered … Read more

Asia’s regulators say the banking system is stable after the UBS-Credit Suisse deal

Jakub Porzycki | Nurphoto | Getty Images Regulators in Asia issued reassuring statements on Monday that their banking systems remained robust and stable after Swiss banking giant UBS agreed to buy rival Credit Suisse for $3.25 billion. Swiss regulators played a key role in orchestrating the forced takeover to stem a major banking crisis that … Read more

Asia markets UBS, Credit Suisse; China, loan prime rates

China leaves 1- and 5-year prime rates unchanged The People’s Bank of China left 1-year and 5-year lending rates unchanged after reducing the reserve requirement ratio for almost all banks by 0.25 percentage points last week. The 1-year LPR remained at 3.65%, while the 5-year LPR remained at 4.3%, both unchanged since last August. The … Read more

UBS is buying Credit Suisse for $3.2 billion as regulators seek to strengthen the global banking system

UBS agreed to buy its embattled rival Swiss credit for 3 billion Swiss francs ($3.2 billion) on Sunday, with Swiss regulators playing a key role in the deal as governments sought to contain a contagion threatening the global banking system. “With UBS’s takeover of Credit Suisse, a solution has been found to ensure financial stability … Read more

Here’s the inflation breakdown for February – in one chart

A customer shops at a grocery store in Brooklyn on February 14, 2023. Michael Nagle/Xinhua via Getty Images The annual rate of inflation in February continued its gradual cooling trend, although it remained well above policymakers’ targets. Inflation is a measure of how quickly prices rise or fall in the US economy. The consumer price … Read more

Crunch time for Credit Suisse talks as UBS seeks Swiss insurance

Red pedestrian crossings outside a Credit Suisse Group AG bank branch in Basel, Switzerland, Tuesday, October 25, 2022. Stefan Wermuth | Bloomberg | Getty Images Talk about rescue Swiss credit rolled in Sunday as UBS was seeking $6 billion from the Swiss government to cover costs should it buy its struggling rival, a person familiar … Read more