Investors snapped up cash at the highest weekly rate since April 2020 in the week to March 15, according to BofA Global Research on Friday, against a tumultuous backdrop of the failure of several U.S. banks and a rout in global banking shares.
Credit Suisse CSGN.S saw more than $450 million in net outflows from its U.S. and European managed funds from March 13 to 15, Morningstar Direct said on Friday, as retail and institutional counterparties pulled money out of funds managed by the embattled Swiss lender.
SVB Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators.
India's banking system continues to be stable and resilient, and lenders have built sufficient buffers to shield themselves from any unforeseen stress, the governor of the Reserve Bank of India said on Friday, amid the recent turmoil in the sector globally.
European Central Bank supervisors meeting on Friday saw no contagion to euro zone banks from the market turmoil that has engulfed Credit Suisse and some U.S. lenders, a source said.
The board of Russia's largest lender, state-owned Sberbank , has recommended paying a dividend of 25 roubles ($0.3260) per share and a total payout of a record 565 billion roubles, CEO German Gref told reporters on Friday.
European Central Bank supervisors see no contagion for euro zone banks from recent sector turmoil, a source said on Friday, even as rescue deals for Credit Suisse and First Republic Bank failed to arrest pressure on their share prices.
For years Silicon Valley Bank was a lender of choice for climate technology startups keen to tap specialised support for early-stage companies. Post its collapse, they may face higher finance costs wherever they next choose to bank.
Vietnam's central bank is seeking to reduce the maximum stake investors can hold in Vietnamese banks, according to a published draft document on a regulatory change that would make the sector less attractive to foreigners.
The European Central Bank has convened an unscheduled meeting of its Supervisory Board on Friday to discuss stress and vulnerabilities in the euro zone bank sector after a recent selloff in bank shares, a spokesperson said.
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