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...Körner is one of the last Credit Suisse executives still at UBS, having seen chief financial officer Dixit Joshi, wealth management head Francesco de Ferrari and chief operating officer Francesca McDonagh...
...While UBS agreed to buy Credit Suisse in March 2023, the deal was not completed until last June. UBS reported $78bn of common equity tier one capital on Tuesday....
...To get the merger approved, Capital One is making a case that there is little overlap between the two banks’ credit card businesses....
...The bank’s state-ordered takeover by UBS last year has led to at least $9bn of legal claims, largely related to the decision by Swiss regulator Finma to write down billions of dollars of Credit Suisse debt...
...Credits are typically equivalent to one tonne of CO₂....
...But the leverage is less than one times. So it’s a lot less than what it is on bank balance sheets....
...Federal Reserve governor Lisa Cook on Wednesday said a surge in private credit is one of the “emerging vulnerabilities” that financial regulators need to pay attention to....
...Federal Reserve governor Lisa Cook on Wednesday said a surge in private credit was one of the “emerging vulnerabilities” that financial regulators need to pay attention to....
...The final chief executive of Credit Suisse, Ulrich Körner, is set to leave UBS in the coming weeks, as the Swiss bank prepares to complete a crucial step in the integration of its former rival....
...But one year on from the failures of Silicon Valley Bank and Credit Suisse, the strongest banks are ramping up their lending into the broadly syndicated bank loan markets — a key way to finance leveraged...
...One justification for regulating banks much more heavily than NBFIs is that they matter more. Banks do different things (like take deposits) and can’t be allowed to fail....
...Ermotti’s award comes as the bank’s bonus pool shrank 14 per cent compared with the combined pool at UBS and Credit Suisse in 2022....
...The Credit Suisse experience was one reason why “we do want to remind investors that [bank] debt is at risk and we do have a resolution process”, Gruenberg added....
...The most recent examples of risk management failures in financial institutions are the collapses of Silicon Valley Bank and Credit Suisse last year....
...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...Less than a year after UBS’s rescue of Credit Suisse, just a handful of Credit Suisse senior managers remain at the enlarged Swiss bank, including former chief executive Ulrich Körner....
...Is it a good thing for the economy in general that one bank should tower over the industry? Should America want more big banks? Fewer? Is JPM’s run likely to continue?...
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...leading to the fall of Credit Suisse and saddened by the fact that the Swiss are not providing more transparency — Emmental is the one with holes....
...Blackstone’s credit and insurance division will buy the US credit card receivables from Barclays for an undisclosed sum, and the bank will continue to service the accounts for a fee....
...The bank is specifically focusing on private credit as one of its major engines of growth....
...The private credit market has taken off in recent years after some banks shied away from lending in the wake of the global financial crisis....
...The ironic quirk, however, is that this newcomer is backed by Japan’s Nomura, a traditional bank which private credit has been designed to displace....
...One of the few left, Vanquis — formerly Provident Financial — has tried to clean up its reputation and become a regular bank funded by its depositors....
...Thuy is one of thousands of Vietnamese people who have lost money they put in SCB....
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