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Banks face US probe over Russia
Several banks are being investigated by US regulators over their dealings with Russian clients.
UBS rescues Credit Suisse, but banking shares continue to tumble
Swiss banking giant UBS has bought beleaguered lender Credit Suisse in a rescue deal brokered over the weekend. In a statement, the Swiss National Bank
Banking crisis: is Credit Suisse next?
t looks as though Credit Suisse is likely to be the next casualty in the banking crisis triggered by the collapse of California-headquartered Silicon Valley Bank earlier this week.
Market turmoil as SVB collapses: latest developments
Last week, California-headquartered bank SVB (Silicon Valley Bank) announced a US$1.8bn loss due to asset sales in order to meet withdrawal requests. Trading of SVB stock was halted on the morning of Friday 10th March when stocks plummeted by 68%. By Monday, its US business had completely collapsed, in the largest banking failure since the financial crisis of 2008.
Project Icebreaker: central banks test retail CBDCs
The Bank for International Settlements (BIS) and three central banks have announced the conclusion of a joint project looking into the potential pros and cons of using retail CBDCs (central bank digital currencies) for cross-border payments.
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