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Terms of UBS Acquisition Wipes out Additional Tier 1 Capital and Spurs Fresh Concerns
UBS takeover of Credit Suisse, the sale of Signature bank assets, and the daily dollar swaps could have helped stabilize the budding banking crisis. However, the wipeout of the additional tier 1 capital cushion (16 bln Swiss francs) at Credit Suisse has raised concern about the vulnerability of other such assets, which post-GFC is a $275 bln market in Europe. Asia Pacific equities was a sea of red, led by a 2.65% drop in the Hang Seng and 2.2% fall in its index of mainland shares. Japan and Australia's indices shed more than 1%. Europe's Stoxx 600 is off fractionally, but the bank index is off 2.5% (after a 2.7% ... (full story)
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Ferna
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Ferna
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Memories is all that remains…