Source:t.co/HE36FKAOEt
— Wall Street Silver (@WallStreetSilv) March 29, 2023
Fed Vice Chair Barr is testifying today that banks need more stringent "stress testing." What a joke. A bright high-school kid with a spreadsheet could see SVB was insolvent. What's needed is competent supervision. Barr and Powell should both resign now for gross negligence. pic.twitter.com/9TfQr83CkV
— Jim Rickards (@JamesGRickards) March 28, 2023
Unbelievable. Unicredit will distribute more than €5 billion to shareholders out of its 2022 earnings ("all of its net profit). CEO salary plus bonus will rise by 30% to close to €10 million.
In an environment of stress in the banking sector. With ECB approval. pic.twitter.com/Izad6BXf76
— Philipp Heimberger (@heimbergecon) March 29, 2023
Signature Bank just went from $90 to $0.13 🤣 pic.twitter.com/9duptiLUnd
— Financelot (@FinanceLancelot) March 29, 2023
SVB’s Collapse Shows the World’s Favorite Safe Asset Isn’t Risk-Free: Bloomberg
US Treasuries came back to haunt investors and bankers who ignored the basics of interest-rate risk—and there could be more surprises in store.
Credit Suisse Sale ‘Forever Impairs’ Ability of Banks to Issue AT1s, Investors Warn
Swiss regulators’ decision to write down $17bn worth of Credit Suisse’s additional tier 1 (AT1) bonds as part of the bank’s purchase by UBS rather than wipe out shareholders has called into question the future viability of the $260bn segment of debt markets.