JPMorgan Chase & Co will shut 21 branches of First Republic Bank by the end of the year as it integrates the failed lender into its operations, a JPMorgan spokesperson said on Thursday.
KKR & Co is moving a managing director from India to Singapore to lead the firm's Southeast Asia private equity business, two familiar with the matter sources told Reuters, bolstering its personnel in the region.
Soaring rates and falling property values are squeezing commercial real estate firms in Sweden, but the risk of a banking crisis is low, the head of the central bank said on Thursday.
Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the downfall of Credit Suisse .
As long as there is no agreement on the reform of European Union fiscal rules, the old rules will have to be applied, German Finance Minister Christian Lindner said on Thursday.
How rules are applied to banks and the calculation of their liquidity buffers should be reviewed following recent turmoil in the banking sector, Klaas Knot, chair of the G20's Financial Stability Board said on Thursday.
Credit Suisse has repaid the liquidity backed by the Swiss government, Finance Minister Karin Keller-Sutter said in an interview with Swiss broadcaster SRF aired late on Wednesday.
Canada's second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) has stopped making private deals in China and will close its Shanghai office later this year, the Financial Times reported on Thursday, citing people familiar with the matter.
Shares of large and mid-sized U.S. banks sharply underperformed the broader market on Wednesday with the S&P 500 Banks Index closing down 2.0% while the benchmark S&P 500 Index fell 0.6% with worries about commercial real estate loans in focus among bank investors.
Morgan Stanley expects its revenue from trading and investment banking to slump in the second quarter given a more challenging economic environment, co-president Andy Saperstein told investors Wednesday.
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