Credit Suisse shares rebound following £44bn support from Swiss central bank as top shareholder slams ‘unwarranted’ sell off March 16, 2023 Credit Suisse’s shares rebounded over 20 per cent on Thursday morning as markets reacted positively to the embattled lender’s announcement that it will tap a CHF50bn (£44bn) liquidity line from the Swiss Central Bank. Credit Suisse’s shares jumped over 22 per cent in morning trading. The cost of insuring company bonds against default also dropped [...]
UK lenders shun emergency Bank of England lending scheme after Credit Suisse collapse May 2, 2023 There was no take up of the Bank of England’s emergency funding scheme in the period it was open daily to lenders as UK banks weathered the storm following the collapse of Silicon Valley Bank (SVB) and Credit Suisse. In coordination with other monetary authorities around the world, Threadneedle Street increased the frequency of its [...]
ECB’s Lagarde: EU must release Covid recovery funds ‘without delay’ November 19, 2020 European Central Bank (ECB) president Christine Lagarde has urged EU countries to solve their disagreements over the €750bn (£670bn) recovery fund, amid fears that delays could damage economies facing a tough winter of rising coronavirus cases. Lagarde told the European Parliament that the budget package – which amounts to around €1.8 trillion overall – “must [...]
Andrew Bailey and Jerome Powell play down central banks’ climate change role January 10, 2023 Andrew Bailey and Jerome Powell, two of globe’s top rate setters, have today said central banks should only have a limited role in tackling climate change. The chiefs of the Bank of England and US Federal Reserve, speaking at a summit hosted by the Swedish central bank, the first in the world, played down their [...]
Design for confidence: the write-down of AT1 bonds in the last days of Credit Suisse October 20, 2023 The reputation of Swiss regulator, Finma is on the line as the holders of Credit Suisse’s AT1 bonds take legal action, seeking compensation after securities they owned were written down, as part of the bank’s forced marriage to UBS.
We should question the mandate of the Bank of England – not its independence July 28, 2022 ONE OF the most surprising things to come out of the race to replace Boris Johnson as leader of the Conservative Party has been the space the Bank of England has taken up in the discourse. One unsuccessful candidate argued the government should have more oversight of the Bank’s activities and current frontrunner Liz Truss [...]
Inflation drops faster than expected ahead of Bank of England’s interest rate decision March 20, 2024 The figures come just a day before the Bank of England announces its latest decision on interest rates.
Pound hits 31-month high on Brexit hopes and dollar weakness December 17, 2020 The pound has shot up to its highest level since early 2018, with investors hoping the UK will soon sign a post-Brexit trade deal and the dollar falling sharply. Sterling was last up 0.6 per cent at $1.358, a 31-month high. It was 0.3 per cent higher against the euro at €1.111. The British government [...]
Bank of England’s Andrew Bailey ‘optimistic’ that inflation will fall but still ‘too early’ to discuss rate cuts November 8, 2023 Speaking at a conference hosted by the Central Bank of Ireland, Mr Bailey said that Brexit had reduced the openness of the British economy.
Coutts boss Peter Flavel resigns over Farage account closure July 27, 2023 The boss of private bank Coutts has resigned for his part in the closure of Nigel Farage’s bank account. Peter Flavel’s resignation follows the departure of Natwest boss Dame Alison Rose in the early hours of Wednesday morning and comes as pressure grows on other members of the Natwest board to step down over the [...]