Should we be worried as Credit Suisse brings banking crisis to Europe?

Saudi National Bank, which anchored the capital raise to become its biggest shareholder, sent the market into panic on Wednesday when its chairman, Ammar Al Khudairy, ruled out increasing its stake from its current level of just under 10 per cent.

The following month, Credit Suisse found itself fighting a rearguard action against massive leak of data on thousands of bank accounts going back to the 1940s, exposing how the bank managed accounts for human rights abusers, fraudsters and sanctioned businessmen. Unlike EU and UK lenders of a similar size, US banks with balance sheets below $250 billion had been deemed by authorities in that country to be too small to have to comply with global standards on capital, liquidity and resolution.

It is one of 30 global systemically important banks, whose failure would cause ripples through the entire financial system.Taoiseach Leo Varadkar said in Washington on Wednesday that while Irish officials are closely monitoring events across the global banking system, they are “not concerned about the stability or health of any of our banks”.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stock markets plunge as Credit Suisse stock drops to historic lowEurope's stock markets and the euro have slumped on renewed fears of contagion following the collapse of Silicon Valley Bank Bitcoin fixes this Ohhhh… Credit Suisse is waaaayyyyy worse. And nobody has a clue what really sits on their derivative books. Here we go again another banking scandal / possible collapse again. Reset on the horizon
Source: thejournal_ie - 🏆 32. / 50 Read more »

European shares fall 3% as Credit Suisse shares plunge to record lowTurbulence on stock markets once more as investors fear contagion from collapse of Silicon Valley Bank No thanks to the war in Ukraine affecting Europe.
Source: IrishTimes - 🏆 3. / 98 Read more »

Credit Suisse shares sink, sparking rout in bank stocksSwiss lender’s stock price hits all-time low on back of comments from Saudi National Bank’s chair
Source: IrishTimes - 🏆 3. / 98 Read more »

European banking stocks slide on Credit Suisse worriesFinancial markets bet ECB will scale back planned half-point rate hike on Thursday
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Irish bank shares fall as Credit Suisse hits new lowThe troubled Swiss lender’s biggest shareholder has ruled out investing any more money in the firm
Source: businessposthq - 🏆 8. / 71 Read more »

Credit Suisse reassurances, Ibis Red Cow takeover and the Big Tech socialistsBusiness Today: the best news, analysis and comment from The Irish Times business desk
Source: IrishTimes - 🏆 3. / 98 Read more »