The case has now been adjourned to July 18.
The Swiss government strongarmed UBS into buying its rival for $3.25 billion after the collapse of three US lenders in March raised concerns about Credit Suisse's own financial health, following a series of scandals in recent years.
Pozsar left Credit Suisse in recent months, according to the report, which cited a person familiar with the matter.
SpiceJet said it will pay one tranche today, on April 21, and the next in May. The court will next hear the case on May 17
Alois Mueller, most recently head of Credit Suisse’s private markets group in Asia Pacific and co-chair of its global private equity investment committee, plans to leave the firm at the end of April, sources told Bloomberg
The Senate Budget Committee says an independent ombudsman initially brought in by the bank to oversee the probe was inexplicably terminated as he carried out his work, and it faulted incomplete reports that were hindered by restrictions.
Sumitomo Mitsui Financial Group Inc. sold 140 billion yen ($1 billion) of AT1 debt, becoming the first major global bank to issue such notes since the finance-sector crisis erupted last month. It’s another sign that the turmoil first triggered by the failure of Silicon Valley Bank is easing.
While the upper house had approved the government's contribution to the rescue package, parliament's lower, and larger chamber, pushed back again on Wednesday.
While the upper house approved the government’s 109 billion Swiss franc ($120.82 billion) contribution to the rescue package, parliament’s lower, and larger chamber, later rejected it.
Iqbal Khan, global head of wealth management at UBS, met with counterparts at Credit Suisse including the lender’s local wealth head Puneet Matta in Singapore in recent weeks, according to people familiar with the matter, who asked not to be identified discussing private information.
The lower house retrospectively rejected the rescue near midnight, with heated debates continuing into the early hours of Wednesday morning as members discussed other measures related to Credit Suisse.
Rajan said a decade of easy money and a flood of liquidity from central banks has caused an “addiction” and a fragility within the financial system as policy makers tighten policy.
Shareholders, who did not receive a vote on the merger after the government passed an emergency ordinance to bypass the step, could be the ones raising their voices in protest Tuesday.
The yield on Commercial Paper issued by non-banking financial companies (NBFCs) eased 20-40 basis points, and that on debt issued by manufacturers by 30-35 bps.
Shocks, uncertainty and contagion being inevitable, the only ‘solution’ to recurrent crises could lie with central banks
Life got a little too exciting at Credit Suisse
Efforts to make banks safer can effectively push risk into other sectors of finance
Any additions will be on a case-by-case basis and Nomura has no intention to buy any of Credit Suisse’s assets, according to Christopher Willcox, head of Nomura’s wholesale business.
During the meeting, the Union Finance Minister said that the PSBs must “look at business models closely to identify stress points, including concentration risks and adverse exposures”.
The Credit Suisse report on ChatGPT highlights how the OpenAI software registered 100 million users in just two months, outpacing the likes of TikTok and Instagram in terms of growth rate.
Uncertainty and risk to upside in inflation has reduced; the sooner financial stability is achieved is better for investors
UBS, Switzerland's biggest bank, issued bail-in bonds on Friday, two days before taking over the country's stricken second-largest bank under strong pressure from the Swiss authorities.
The Credit Suisse report comes at a time when funding to India’s startup ecosystem has slowed down significantly since the second half of last year.
Big asset managers hold some of the notes. But the owners of the bulk of the $17 billion of these highly risky instruments remain a mystery
The idea that finance is an arm of the state is back — and global banking is likely to be reshaped by it