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  • Bank of England Statement: UK creditor hierarchy

    From bankofengland.co.uk

    The UK’s bank resolution framework has a clear statutory order in which shareholders and creditors would bear losses in a resolution or insolvency scenario. This was the approach used for the recent resolution of SVB UK, in which all of SVB UK’s Additional Tier 1 (AT1) and T2 instruments were written down in full and the whole of the firm’s equity was transferred for a nominal sum of £1. AT1 instruments rank ahead of CET1 and behind T2 in the hierarchy. Holders of such instruments should expect to be exposed to losses in resolution or insolvency in the order of their positions in this hierarchy. The Bank ... (full story)

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    Elizabeth Holmes owes over $25 million to Theranos, lawsuit says

    From cnbc.com|Mar 20, 2023|2 comments

    Elizabeth Holmes hasn’t paid back over $25 million to creditors of her former Theranos company as she tries to delay her 11-year prison sentence, according to a lawsuit. Theranos ...

    BOJ Hints at Policy Shift Caution Ahead of Transition to Ueda

    From bnnbloomberg.ca|Mar 20, 2023

    The Bank of Japan indicated a cautious stance toward pivoting from massive easing before achieving its inflation target, helping cool market speculation over any big monetary ...

    Terms of UBS Acquisition Wipes out Additional Tier 1 Capital and Spurs Fresh Concerns

    From marctomarket.com|Mar 20, 2023|3 comments

    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 ...

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    Punch-drunk Credit Suisse was fated to fall

    From omfif.org|Mar 20, 2023

    An extraordinary weekend in Switzerland culminated in the collapse of Credit Suisse into the wary embrace of its great rival, UBS. The latter did not want to have to buy the ...

    ECB’s Stournaras: Close to End of Tightening Cycle - Rate Hikes Are Mostly a Story of the Past

    From @sevenloI|Mar 20, 2023|2 comments

    tweet at 9:55am: ECB’s Stournaras: Close to End of Tightening Cycle - Rate Hikes Are Mostly a Story of the Past tweet at 10:15am: ECB'S STOURNARAS TELLS CNBC EUROPEAN BANKING SYSTEM WELL-EQUIPPED WITH CAPITAL

    Lagarde: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament

    From ecb.europa.eu|Mar 20, 2023

    I am happy to be back in this Parliament to discuss the ECB’s monetary policy shortly after last week’s Governing Council meeting. More than one year has now passed since that February morning when we all woke up to the horrifying news of war in Europe. The Russian invasion of Ukraine – which you have selected as a topic for this hearing – is first and foremost a human tragedy for the people of Ukraine. And in the face of this senseless atrocity, they have shown remarkable resilience and determination. In the words of the former President of this Parliament, José María Gil-Robles, who sadly passed away last month, “The future belongs to those who are prepared to make the effort to hear the voice of hope”.[ 1 ] As Europeans, we need to continue hearing the voice of ho tweet at 10:02am: #ECB LAGARDE: #INFLATION IS PROJECTED TO REMAIN TOO HIGH FOR TOO LONG - BBG *LAGARDE: KEY ECB INTEREST RATES REMAIN OUR PRIMARY TOOL *LAGARDE: FUTURE ECB MOVES TO DEPEND ON DATA tweet at 10:04am: ECB'S PRESIDENT LAGARDE: THE ECB IS CAREFULLY WATCHING MARKET DEVELOPMENTS. tweet at 10:05am: ECB'S PRESIDENT LAGARDE: THE EURO-AREA BANKING SECTOR IS STRONG.

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  • Posted: Mar 20, 2023 9:32am
  • Submitted by:
     Newsstand
    Category: Low Impact Breaking News
    Comments: 0  /  Views: 1,463
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