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Credit Suisse's rescue had a sting in its tail for the banking crisis. Here's what you need to know about AT1 bonds.

Tue, 03/21/2023 - 11:46

The Swiss regulator wrote the value of Credit Suisse's AT1 bonds down to zero as part of UBS's takeover deal Sunday.

Arnd Wiegmann/Getty Images

Markets, MI Exclusive, Credit Suisse, ubs, Banking Crisis, Banks, Bonds

Recruiters worldwide are inundated with calls from anxious Credit Suisse bankers seeking new jobs amid the UBS takeover, report says

Tue, 03/21/2023 - 07:11

People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City. After its largest shareholder said it could not provide further support, Credit Suisse shares fell by as much as 30% on Wednesday as global concerns over the stability of major banks continued to spread. — Credit Suisse staff are reportedly flooding recruiters with calls about new jobs.
Spencer Platt/Getty Images

finance, News, Trending UK, Credit Suisse, ubs, Banks, Finances

Everything you need to know about UBS's historic $3 billion deal to rescue rival bank Credit Suisse

Tue, 03/21/2023 - 06:10

Good morning, readers. Markets reporter George Glover here, writing to you from London while my colleague Phil Rosen is off on a well-deserved vacation.

You've probably already clocked that the biggest story in markets right now is happening on this side of the Atlantic, with investors still mulling over UBS's $3 billion rescue of its old foe Credit Suisse.

Today, I'm unpacking the biggest winners and losers from the takeover.

Markets, Newsletters, Newsletter, 10 Things Before Opening Bell, Credit Suisse, ubs, bank crisis

A retro red, blue, and white Credit Suisse ski cap is attracting ferocious bids online — and prices are now up to $200

Tue, 03/21/2023 - 01:55

A retro red, blue, and white Credit Suisse ski cap is attracting ferocious bids online — and prices are now up to $200.

Fabrice Coffrini/AFP/Getty Images

Retail, News, Credit Suisse, ubs, Mergers and Acqusitions, share price, merchandise

US stocks jump as traders hope worst of banking crisis has passed

Mon, 03/20/2023 - 16:17

Stock traders on the exchange trading floor. — Stock traders
Drew Angerer/Getty Images

Markets, MI Exclusive, Stocks, SVB, Credit Suisse, ubs, Stock Market

First Republic shares crater 50% as banks discuss fresh capital raise after $30 billion rescue

Mon, 03/20/2023 - 12:51

A pedestrian walks by the First Republic Bank headquarters on March 13, 2023 in San Francisco, California. — A pedestrian walks by the First Republic Bank headquarters on March 13, 2023 in San Francisco, California.
Justin Sullivan/Getty Images

Markets, MI Exclusive, First Republic, first republic bank, SVB, Credit Suisse, ubs

'Nobody has a clue what happens next': Industry insiders react to Credit Suisse's rescue takeover by UBS

Mon, 03/20/2023 - 12:30

credit suisse — Credit Suisse was bought by UBS over the weekend in a deal pushed by Swiss regulators.
Fabrice Coffrini/AFP/Getty Images)

finance, News, Credit Suisse, ubs, Banks, Banking, Acquisition

The Fed spotted red flags at Silicon Valley Bank years before it collapsed, report says

Mon, 03/20/2023 - 11:56

SVB — Nikolas Liepins/Anadolu Agency via Getty Images

Markets, MI Exclusive, SVB, Silicon Valley Bank collapse, NYT, us banking crisis, Banking Crisis

UBS' dramatic takeover of Credit Suisse was the deal neither bank wanted. Here are some of the passive-aggressive digs from both sides.

Mon, 03/20/2023 - 11:47

UBS CEO CEO Ralph Hamers. — UBS CEO Ralph Hamers.
Arnd Wiegmann/Reuters

finance, Markets, ubs, Credit Suisse, Banking Crisis, Colm Kelleher

UBS is now 'the world's safest bank' for depositors because Switzerland has made it too big to fail, analyst says

Mon, 03/20/2023 - 11:15

credit suisse ubs merger logos — NurPhoto

Markets, MI Exclusive, ubs, Credit Suisse, Signature Bank, Banking Crisis

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