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...UBS’s takeover of Credit Suisse, which controversially involved $17bn of bonds being wiped out, has created the biggest global wealth manager and a dominant player in Swiss and European banking....
...To get the merger approved, Capital One is making a case that there is little overlap between the two banks’ credit card businesses....
...Rupak Ghose, a fintech consultant and former financials research analyst at Credit Suisse, said Revolut was rarely used as a primary bank account despite its fast growth and would need to become a lender...
...as 2022 National Basketball Association champions the Golden State Warriors, the Utah Jazz and the Sacramento Kings....
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...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...
...regulator, and the Swiss National Bank, to cite just some of the many mis-steps....
...One of the (many) things that added pressure on Credit Suisse in the months leading up to its fall was an alarmist tweet that prompted a good number of clients to pull their funds out of the bank....
...One deal to start: The advisory firm set up by Peter Mandelson, one of the architects of New Labour in the UK, has sold a 20 per cent stake to a US business run by a former aide to Barack Obama in a first...
...India’s central bank has banned Kotak Mahindra Bank from issuing credit cards or taking on new digital and mobile banking customers, marking the regulator’s latest crackdown on the country’s fast-growing...
...Over the past decade, banks have become a kind of one-stop-shop for buyout firms, which play an increasingly influential role in the global economy....
...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....
...In 1864, the National Banking Act gave banks chartered by the US government an effective monopoly over the creation of money....
...“It is a huge job [Khan] has ahead of him, and there is no guarantee he will succeed,” said Johann Scholtz, banking analyst at Morningstar....
...A day after the Fed meeting, the Swiss National Bank unexpectedly cut its interest rates, knocking about 1 per cent off the value of its currency....
...Credit card companies are high-margin businesses, with returns on equity far above those elsewhere in the banking sector. Amex reported a 33 per cent fourth-quarter return on average common equity....
...The bank sounded one note of caution on its car financing business Arval — an area where French rivals Société Générale and Crédit Agricole are also big operators — saying used car values were now falling...
...“People take notice [of the US position] everywhere, it’s the biggest banking centre in the world,” says one senior banking official....
...The bank is specifically focusing on private credit as one of its major engines of growth....
...Despite a prolonged drought in deals and a fall in loan demand, 2023 was one of the most profitable years for European banks because of rising interest rates....
...More broadly, comparisons between investment banks made on a revenue basis — and some league rankings — often overlook non-bank competitors and adjacent growth markets such as private credit....
...So one obvious solution to the problems of SMBs is bank licences....
...Rohit Chopra, a Democratic FDIC board member, told the FT: “When you are exerting control over a bank, that typically triggers long-standing requirements under US banking law....
...UBS is set to disclose its bonus pool at the end of March after a testing year for its investment bank, but one in which some Credit Suisse bankers were offered large packages to persuade them to stay....
...Discover less so,” said one bank M&A lawyer. “Part of this is regulators having Capital One solve a problem for them.”...
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