Bank in Switzerland :Credit Suisse shares plunge (UBS takeover)
 

Laid off 9,000 staff

People want to take their money out,
all at once

That's their Problem
Liquid Cash - do they have enough?

[String of scandals have undermined the
confidence of its investors and clients,
with Credit Suisse customer outflows in the
fourth quarter rising to more than
110 billion Swiss francs (£100bn)]


https://www.theguardian.com/business...-business-live

https://www.bbc.co.uk/news/business-64964881

https://news.sky.com/story/health-of...rries-12834337


All Media

All USA
markets are down

Stocks sliding down


Also the EU

[Heavy losses across Europe as banks tank
There were heavy losses across European stock
markets today too, as bank shares were pummelled.
Germany’s DAX lost 3.27%,
France’s CAC fell 3.6% and
Italy’s FTSE MIB index tumbled by 4.6%.

While Credit Suisse was the
worst-performing bank, down 24%,
other financial institutions suffered heavy falls too.
French bank Société Générale tumbled 12%,
rival BNP Paribas lost 10%.]


Update
[Credit Suisse shares plunge 30% to new all-time low]


And UK:
[FTSE 100 suffers biggest fall since Ukraine invasion,
wiping out £75bn, as banking crisis spooks markets]



Data
https://www.theguardian.com/business...ve#top-of-blog

What's causing it all to go tits up this time?

it's purely investor confidence. Credit Suisse have been dodgy af over the years, so when investors get jumpy they grab their cash

What about the two American banks though, seems like this thing could go very global fast

it's not really dissimilar to people stocking up on toilet roll. While logically, there really is no need to hoard them, once the public get an idea in their heads, all hell breaks loose, so yes, it could spread really quickly

Yes today
£44 Billion
Bail out for that Troubled Bank.

All Media.

As long as it’s not us bailing out all these ropey banks !


Sent from my iPhone using Tapatalk Pro

CNN HD USA Feed Live on UK TV
11 banks have saved a Regional Bank

[A group of big USA banks has injected $30bn (£24.8bn)
into a smaller regional bank, First Republic,
which had been seen as at risk of failure.

The move came as authorities in the
US are trying to quell panic over the
health of the banking system, after a
series of bank collapses in the US.

Worries about the sector have spread globally,
raising fears of a crisis.
US regulators called the move "most welcome",
while the banks said their action
reflected their "confidence".
They said the banking system had plenty
of cash and made big profits.
"Recent events did nothing to change
this," they said. "The actions of America's
largest banks reflect their confidence
in the country's banking system."]

https://ichef.bbci.co.uk/news/976/cp...bject.jpg.webp


https://www.bbc.co.uk/news/business-64973321

UBS
to takeover Credit Suisse, troubled bank

https://www.reuters.com/business/cru...es-2023-03-19/

Live SkyNewsHD

Swiss Gov., Press Conference

They are trying to get the take-over before
Trading starts tomorrow.

A Colleague at my work
sent me this:

[Who wouldn’t want to take it over
when the Swiss National bank have lent it over 50 billion!
UBS have got a bargain at taxpayers expense!]

i went for a job interview with UBS once and they told me i should expect to work an 18 hour day standard for no bump in pay. You can guess what my reaction was to that :laugh:

That was a Hard Time

Deutsche Bank shares have fallen 13%

As the weekend arrives,
many are sorting the bad shares