![]() ![]() Winters said there appeared to be "non-viable business models remaining, at least in the U.S.", with other banks that had similar deposit concentrations. banks collapsed in the past two weeks and America's biggest lenders agreed to deposit $30 billion in beleaguered First Republic Bank (FRC.N). "I think it had very profound implications for the regulation of banks, and for the way that banks manage themselves," Winters said.Īpart from Credit Suisse takeover, two U.S. Federal Reserve move to guarantee non-insured deposits was a "moral hazard".Īs part of the deal for UBS Group AG (UBSG.S) to take over Credit Suisse, the Swiss regulator determined that Credit Suisse's AT1 bonds with a notional value of $17 billion would be wiped out, a decision that stunned global credit markets and angered many holders. Winters told a financial forum in Hong Kong the U.S. If You Like This Game Then Buy IT, Support The Developers.HONG KONG, March 24 (Reuters) - Standard Chartered (STAN.L) Chief Executive Bill Winters said on Friday Credit Suisse AG's (CSGN.S) $17 billion Additional Tier 1 bonds wipeout had "profound" implications for global bank regulations.
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