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March 28, 2023 03:48 PM IST SVB's failure is a textbook case of mismanagement, Michael Barr, the Feds vice chair for supervision, said in written testimony that will be delivered Tuesday at a hearing of the Senate Banking Committee.
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March 28, 2023 12:57 PM IST Kotak anticipates a 25 bps hike in the upcoming policy, followed by a CRR cut of 50 bps in mid-FY2024 to ease liquidity.
- March 23, 2023 02:50 PM IST
The Swiss National Bank, which helped oversee the recent UBS buyout of troubled Credit Suisse, lifted its key rate as expected by a hefty 50 basis points to 1.5 percent.
- March 23, 2023 12:15 PM IST
The greenback weakened across the board Thursday, resuming a downtrend that started in earnest six months ago, and allowing the South Korean won, for example, to soar more than 2% to a one-month high. Such moves should make imports cheaper, helping to moderate price pressures.
- March 23, 2023 06:49 AM IST
“We have gone from implicit support for depositors to @SecYellen explicit statement today that no guarantee is being considered with rates now being raised to 5%,” Ackman said in a long Twitter post. The 5% rate threshold makes bank deposits “much less attractive,” he wrote.
- March 23, 2023 06:03 AM IST
A daily round-up of the most interesting articles to help jump-start the day.
- March 22, 2023 04:33 PM IST
Brent crude futures , which have risen by almost 3% this week, were down 30 cents, or 0.40%, at $75.02 a barrel at 1026 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 29 cents, or 0.42%, at $69.38.
- March 22, 2023 09:55 AM IST
While recent market turmoil has eased, the Federal Reserve's meeting later in the day is now a major focus for investors, with traders split over whether the U.S. central bank will be forced to pause its hiking cycle to ensure financial stability.
- March 22, 2023 07:43 AM IST
Efforts by U.S. Treasury Secretary Janet Yellen to calm nerves seemed to be working with bank shares rallying overnight. Government officials were also pondering increasing the limit on deposit insurance, though there was no agreement on this as yet.
- March 22, 2023 06:17 AM IST
All three major U.S. stock indexes were bright green as the session closed, with energy (.SPNY) consumer discretionary (.SPLRCD) and financials (.SPSY) enjoying the most sizable gains.
- March 21, 2023 03:34 PM IST
After a tumultuous 10 days which culminated in the 3 billion Swiss franc ($3.2 billion) Swiss-regulator-engineered takeover of Credit Suisse by its rival UBS, attention has now shifted to this week's meeting of the U.S. Federal Reserve.
- March 22, 2023 07:55 AM IST
The Federal Reserve on Wednesday will set the tone as Chair Jerome Powell gathers with his colleagues to consider whether the banking turmoil that erupted less than two weeks ago is so concerning that an interest-rate hike should be abandoned.
- March 21, 2023 06:26 AM IST
Many economists expect central bankers to raise interest rates a quarter-point, to just above 4.75%, on Wednesday, continuing their fight against rapid price increases.
- March 21, 2023 06:14 AM IST
UBS, late on Sunday agreed to buy rival Credit Suisse (CSGN.S), for $3.23 billion, in a merger engineered by Swiss authorities to avoid more turmoil in the banking group.
- March 20, 2023 01:46 PM IST
The Fed repeatedly warned the bank that it had problems, according to a person familiar with the matter.
- March 20, 2023 07:23 AM IST
The move came on the heels of a deal brokered by Swiss authorities to have UBS UBSG.S buy rival Swiss bank Credit Suisse CSGN.S to prevent its disorderly collapse and signals the depth of concern central bankers have over the recent turmoil in the financial system on both sides of the Atlantic.
- March 20, 2023 06:02 AM IST
Problems remain in the US banking sector, where bank stocks remained under pressure despite a move by several large banks to deposit $30 billion into First Republic Bank, an institution rocked by the failures of Silicon Valley and Signature Bank
- March 16, 2023 09:43 AM IST
A pause in the Fed rate hike looks unlikely and a 25 bps hike still looks like a strong possibility, said former RBI Governor and economist Raghuram Rajan in an exclusive interview with CNBC-TV18, citing the fact that the core inflation in US is still going strong.
- March 15, 2023 03:52 PM IST
The Nifty 50 index closed 0.42% lower at 16,972.15, while the S&P BSE Sensex fell 0.59% to 57,555.90. Both the indexes advanced nearly 1% during the session before reversing the gains.
- March 15, 2023 09:35 AM IST
Investors piled back into stocks in U.S. markets overnight as fears about contagion in the banking sector following the collapse of Silicon Valley Bank (SVB) last week eased.
- March 15, 2023 06:52 AM IST
February’s consumer price index, excluding food and energy, increased 0.5% last month and 5.5% from a year earlier, according to Bureau of Labor Statistics data out Tuesday.
- March 15, 2023 05:54 AM IST
The consumer price index, excluding food and energy, increased 0.5 percent last month and 5.5 percent from a year earlier, according to Bureau of Labor Statistics data out Tuesday.
- March 14, 2023 02:28 PM IST
Brent’s nearby put skew — a gauge of how much more traders are willing to pay for contracts that profit from a price decline rather than a rally — rose to the highest level since mid-August on Monday amid the market turmoil.
- March 14, 2023 09:20 AM IST
Consumer Price Index (CPI) inflation decreased from 6.5% in January to 6.4% year-on-year in February. Like the headline inflation rate, food inflation also cooled a bit in February to 5.95 percent from 6 percent in the previous month
- March 14, 2023 06:21 AM IST
Michael Barr, the Fed's vice chair for supervision, will lead the effort, the Fed said in a brief statement.
