The FDIC and Fed are looking for ways the US government can guarantee all bank deposits amounting to $17 trillion should the financial turmoil worsen.
A Goldman Sachs economist anticipates that the Fed would suspend its forthcoming rates hike due to “stress in the banking system.”
UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter.
Bitcoin is still on a roll, briefly surpassing $28K for the first time in a while, and is up 20.8% for March.
According to the data shared by Goldman Sachs, Bitcoin has gained as much as 51% in year-to-date absolute returns.
The terms of the deal between the two banks mean that Credit Suisse shareholders shall receive 1 UBS share for every 22.48 Credit Suisse shares.
Leading crypto Bitcoin climbed to $27K Friday, extending its 2023 bullish run amid intensified talks of a $100K price level.
As the Fed intervenes in order to prevent a crisis in the US banking system, analysts answer whether the Fed has chosen to pivot from its quantitative tightening measures.
Embattled San Francisco-based First Republic saw its shares close up 10% Thursday on news of a bank group rescue deal.
After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation.
The trio of the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation (FDIC) have been pledging support to depositors.
The Credit Suisse stock jumped by over 40% in Thursday’s opening trade as the %54 billion credit line extended by the Swiss National Bank comes as a major relief.
Fidelity Digital Assets expanded its crypto service to the public amid the collapse of Silvergate and Signature Bank.
The firm’s Chairman Axel Lehmann declined to comment on whether it will need assistance from the government in the future, he highlighted that the bank has no problems as it has good return capital ratios.
The 2-year and 10-year Treasury yields rose Tuesday as investors pondered the next Fed interest rate hikes.