Major Wall St banks move fast to head off crisis with rescue operation
Some of the US’s biggest banks launched a joint rescue operation to save a smaller US lender on Thursday evening amid fears of contagion in the wider banking sector.
The San Francisco-headquartered First Republic has been under pressure since SVB collapsed a week ago. First Republic’s share prices has plummeted and nervous customers rapidly withdrew their money as fears grew it could be the next victim. US Treasury secretary Janet Yellen, Federal Reserve chair Jay Powell and senior regulators issued a statement saying: “This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system.”The US Federal Reserve, America’s Central Bank, said it was “ready to provide liquidity through the discount window to all eligible institutions”.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Group of major US banks ride to $30bn rescue of troubled First RepublicA group of 11 major banks have provided $30bn (£24.7bn) in cash in an attempt to end a crisis of confidence surrounding another major US bank.
Weiterlesen »
JPMorgan sounds out Wall Street banks about shoring up First Republic\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Weiterlesen »
Glasgow artist sued by Wolf of Wall Street pleads with US lawyer to drop caseLewis McLean, 29, specialises in recreating iconic sporting and movie moments on the canvas, however, he is now one of many artists being sued by the rights holders of the 2013 blockbuster.
Weiterlesen »
Major police investigation underway after suspected shooting in middle of streetBREAKING: Major police investigation underway after suspected shooting in middle of street
Weiterlesen »
Suspect who crashed 'stolen' car into wall 'not the smartest'A suspect who drove a car into a wall as he allegedly attempted to evade Greater Manchester police has been labelled 'not the smartes' by officers
Weiterlesen »
Major tram delays as 'adverse weather conditions' halt servicesWait times could be up to 50 minutes
Weiterlesen »