Matsuno: Japan's financial system is stable - Breaking The News

Matsuno: Japan's financial system is stable

20 March

1 min read

EPA-EFE/JIJI PRESS

Japanese Chief Cabinet Secretary Hirokazu Matsuno echoed on Monday the government's assurances that Japan's financial system is stable amid persistent worries about the state of the worldwide banking system.

"Central banks swiftly ramped up efforts as risk-aversive moves seen in markets," Matsuno added. Bank of Japan was one of the central banks that took steps earlier in the day to enhance the provision of liquidity aimed at easing strains in global funding markets.

matsuno banking crisis

Switzerland blames Credit Suisse's fall on 'years of mismanagement'

20 December

The Swiss Parliamentary Investigation Committee (PUK) released its findings on the Credit Suisse collapse on Friday, attributing the bank's downfall to "years of mismanagement."The report revealed that Credit Suisse's financial situation worsened throughout 2022, with significant liquidity outflows and the bank facing near "insolvency" from the beginning of October and the end of December. "However, the PUK does not see any causal misconduct on the part of...

Swiss regulator clears UBS-Credit Suisse merger

19 June

The Swiss Financial Market Supervisory Authority (FINMA) ruled on Wednesday that the merger between UBS Group and Credit Suisse did not create any competition concerns.The Swiss regulator previously approved UBS' takeover of the troubled Credit Suisse in advance on March 19 last year to serve the interests of "creditor protection" and to stop a potential spillover to the Swiss and international financial markets."The legal consummation of the merger is...

Fulton Financial pops 9% after Republic First bank buyout

29 April

Shares of Fulton Financial Corporation jumped over 9% on Monday after the group ran to the rescue of the Republic First bank in a government-backed deal to take over the Philadelphia-based lender's assets valued at $6 billion.Fulton previously underlined that the buyout of the troubled bank would nearly double its size in Philadephia. The Pennsylvania Department of Banking and Securities closed the door to the Republic First Bank last week, marking this the first...

UBS chair says bank 'not too big to fail'

24 April

UBS Group AG Chairman Colm Kelleher underscored on Wednesday that the bank is "not too big to fail" and expressed concern about the government's proposal to impose tighter capital requirements to protect the country's economy.Earlier this month, the Swiss government stated that UBS' rescue of the troubled Credit Suisse last year "succeeded in safeguarding financial stability and preventing damage to the economy and the taxpayer." The proposed...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.