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Swiss Regulator Monitoring Banks and Insurers After SVB Collapse
Swiss financial regulator FINMA on Monday said it was closely monitoring the banks and insurers it oversees after the U.S. moved to guarantee the deposits of two failing lenders in an effort to stem contagion. Credit Suisse's shares fell to a new low on Monday, while the cost of insuring its debt against a default rose to an all-time. Shares of Swiss rival UBS slumped more than 7%. "FINMA takes note of the media reports on Silicon Valley Bank and Signature Bank in the USA and is closely monitoring the situation," FINMA said in a statement. "FINMA is evaluating the direct and indirect exposure of the banks and ... (full story)
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From think.ing.com|Mar 13, 2023The collapse of Silicon Valley Bank last week forced the Chancellor and Bank of England to spend the weekend looking at ways to prevent contagion. But the private purchase of SVB ...
From newyorkfed.org|Mar 13, 2023|1 commentThe Federal Reserve Bank of New York’s Center for Microeconomic Data today released the February 2023 Survey of Consumer Expectations, which shows that inflation expectations decreased sharply at the short-term horizon, remained unchanged at the medium-term horizon, and slightly increased at the long-term horizon. Expectations about year-ahead price increases for gas, food, cost of rent, college education, and medical care all declined. Labor market expectations improved, with unemployment expectations and perceived job loss risk decreasing and job finding expectations increasing. Expectations for voluntary job quits reached the highest level since the start of the pandemic. Households’ perceptions and expectations for current and future financial situations both improved. The main findings from the February 2023 Survey are: Inflation Median inflation expectations dropped by 0.8 percentage point at the one-year-ahead horizon to 4.2%, remained unchanged at the three-year-ahead horizon at 2.7%, and increased by 0.1 percentage point at the five-year-ahead horizon to 2.6%. The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) declined at all three horizons. Median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year-ahead horizon. Median home price growth expectations increased by 0.3 percentage point to 1.4% in February, remaining far below the 12-month trailing average of 3.4%. The increase was more pronounced among respondents with annual household incomes above tweet at 11:00am: NY FED FEB YEAR-AHEAD EXPECTED INFLATION LOWEST SINCE MAY 2021 NY FED: FEB YEAR-AHEAD EXPECTED INFLATION AT 4.2% COMPARED WITH JAN’S 5% NY FED: FEB FIVE-YEAR-AHEAD EXPECTED INFLATION AT 2.6% COMPARED WITH JAN’S 2.5% tweet at 11:00am: NY FED: FEB EXPECTED HOME PRICE INCREASE RISES TO 1.4% FROM JAN’S 1.1% NY FED: HOUSEHOLDS EXPECT SMALLER FUTURE GASOLINE, FOOD, RENT COST INCREASES NY FED: HOUSEHOLD VIEWS ON FINANCIAL SITUATION IMPROVED IN FEBRUARY
From omfif.org|Mar 13, 2023Spring is in the air. The negative supply shocks that derailed the post-Covid-19 rebound of the euro area economy last spring and propelled inflation to a peak of 10.6% in October ...
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From bnnbloomberg.ca|Mar 13, 2023One year after the Federal Reserve started frantically raising interest rates, the collapse of Silicon Valley Bank answered what had become perhaps the hottest question on Wall ...
From @financialjuice|Mar 13, 2023|2 commentstweet at 1:00pm: UK'S PM SUNAK: OUR BANKS ARE WELL CAPITALIZED AND LIQUIDITY IS ABUNDANT.
From think.ing.com|Mar 13, 2023Inflation data support ongoing hawkish rhetoric at the ECB but financial stability risk has markets substantially re-price the path for policy rates lower. The risk of ...
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- Posted: Mar 13, 2023 11:55am
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