Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers…
Traders currently see a 50% chance of no rate hike at that meeting, with rate cuts priced in for the second half of the year. Early last week, a 25 basis-point hike was fully priced in, with a 70% chance seen of 50 basis points.
Europe’s STOXX banking index closed 5.7% lower. Germany’s Commerzbank fell 12.7% and Credit Suisse slid 9.6% to a record low.Article content “I recognize the past few days have been an extremely challenging time for our clients and our employees, and we are grateful for the support of the amazing community we serve,” said Mayopoulos, a former CEO of federal mortgage finance firm Fannie Mae who was appointed by the FDIC to run SVB.Article content
Regulators also moved swiftly to close New York’s Signature Bank, which had come under pressure in recent days.
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From wine country to London, Silicon Valley Bank's failure shakes worldwideIt was called Silicon Valley Bank, but its collapse is causing shockwaves around the world.
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Can the UK save its startups as SVB fallout spreads around the worldBOE places the UK arm of the troubled Silicon Valley Bank under insolvency. The heads of 130 technology companies in the UK believe lender’s bankruptcy represents an existential threat to the UK tech sector. The UK is racing ahead of the clock to salvage the British arm of the collapsed Silicon Valley Bank after it […]
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Assessing Tron CEO Justin Sun’s take on SVB saga and USDC depeggingJustin Sun revealed his thoughts on the USDC depeg and was worried about its impact. TRX bounced courtesy of accumulation during its brief dip into oversold territory. Tron founder and CEO Justin Sun is among the blockchain industry leading figures that have weighed in on SVB saga and USDC’s depeg. The latter was not as […]
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Ripple discloses exposure to SVB; not caused business operations disruptionWhile the future of Silicon Valley Bank (SVB) is still being decided, another crypto player has declared exposure to the failed bank. And, this time around the firm in the headlines is Ripple – a popular blockchain-based digital payment network. In a Twitter thread, CEO Brad Garlinghouse stated that the company had exposure to SBV. […]
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Signature Bank closed by New York regulators in fallout from implosion of SVBU.S. regulators are racing against the clock to stop a potential contagion from spreading to other lenders.
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Signature Bank closed by New York regulators in fallout from implosion of SVBU.S. regulators are racing against the clock to stop a potential contagion from spreading to other lenders.
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