Tue, Aug 08, 2023
The collapse of Silicon Valley Bank and Signature Bank earlier this year sparked a crisis of confidence in the US banking sector, leading to a run on deposits at a host of regional banks despite authorities launching emergency measures to shore up confidence.
More >
Fri, Mar 17, 2023
Due to the return of confidence in bank stocks, there was a great rebound in the US market on Thursday. The Dow jumped 370 points to close at the day's high. While the Nasdaq closed with a gain of about 2.5 per cent for the fourth consecutive day. SGX Nifty gained about 110 points. Russell 2000 jumped 1.5%. Markets remained strong despite the jump in bond yields. Nikkei gained about 140 points. The Hengseng index gained about 250 points. In addition, Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank. Apple's stock rose 4%. ECB raised rates by 0.5%. European markets rose by 1-2%.
Tue, Mar 14, 2023
Regulators guaranteed all deposits at the two banks and created a program that effectively thew a lifeline to other banks to shield them from a run on deposits.
Mon, Mar 13, 2023
Biden in his address allayed fears, directly explaining what he has instructed his administration to do to protect small businesses and workers in the wake of regulator shutdowns of both Silicon Valley Bank and Signature Bank over the last few days.
Wed, Mar 30, 2022
Citigroup has agreed to sell its consumer banking business in India to Axis Bank for $1.6 billion, the latest step in Chief Executive Officer Jane Fraser`s push to simplify the bank.
Thu, Feb 08, 2018
Citigroup expects 2018 to be its best year for investment banking in the Middle East and Africa in at least a decade, likely led by Saudi Arabia, a senior executive at the U.S. bank said.
Sat, Feb 03, 2018
Wells is not allowed to grow beyond the $1.95 trillion in assets it had at the end of last year "until it sufficiently improves its governance and controls," the Fed said in a statement.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
