Deutsche Bank (DBKGn.DE) has told clients it can no longer guarantee full access to Russian stocks that belong to them, underlining the challenges global investors face to recover stranded investments in the country's companies.
Update (10:50am): Moments after the FT report which sent WAL shared plunging to $11 (after closing at $30 yesterday), the company rushed out a press release to announce that the FT article is "absolutely false"
Jamie Dimon, the boss of JP Morgan, has played down the risk of a spiralling banking crisis after America’s biggest bank stepped in to buy most of collapsed lender First Republic in a $10.6bn (£8.5bn) takeover hurriedly brokered by US regulators.
Bloomberg just reported that Treasury Secretary Janet Yellen - who was singlehandedly responsible for stoking and restarting the bank crisis on Wednesday which until that day was easing back, with her comments that nobody in charge was even talking about a uniform deposit insurance, let alone working on one - will convene the heads of top US financial regulators Friday morning for a previously unscheduled meeting of the Financial Stability Oversight Council.
Shares of Credit Suisse on Wednesday plunged to a fresh all-time low for the second consecutive day after a top investor in the embattled Swiss bank said it would not be able to provide any more cash due to regulatory restrictions.
During a conference call about the Silicon Valley Bank bailout yesterday, Senator Mark Kelly (D-AZ) asked representatives from the Federal Reserve, Treasury Department, and the Federal Deposit and Insurance Corporation (FDIC) if they had a way to censor information on social media to prevent a run on the banks, according to Republican members of the House of Representatives who were on the call.
Charles Schwab shares fell on Monday even as the financial institution defended its portfolio, easing fears of a banking crisis in the aftermath of tech-focused Silicon Valley Bank’s and crypto-related Signature Bank’s collapses.
U.S. regulators took control of a second bank Sunday and announced emergency measures to ease fears depositors might pull their money from smaller lenders after the swift collapse late last week of Silicon Valley Bank.