Mindblown: a blog about philosophy.
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US Building Permits: Number * (Feb) 1.524M vs. Exp. 1.34M (Prev. 1.339M)
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FINMA and the SNB asserted that the problems of certain banks in the USA do not pose a direct risk of contagion for Swiss financial markets, while they added that Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks and if necessary, the SNB will provide Credit Suisse with liquidity. SNB confirms it will provide liquidity to Credit Suisse against sufficient collateral; says that within its mandate, it can provide liquidity to domestic banks against collateral.
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Credit Suisse announced decisive action to pre-emptively strengthen liquidity which included public tender offers for debt securities and it intends to borrow up to CHF 50bln from the SNB under the covered loan facility and short-term liquidity facility.
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Swiss Cabinet is to hold an extraordinary meeting to discuss Credit Suisse (CSGN SW), via Reuters citing media reports
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End Of Day Report March 15th
Looking for a recap of the day? Read our End Of Day Report for March 15th to see what happened in the world of finance and trading.
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BNP Paribas is reportedly reducing exposure to Credit Suisse (CSGN SW), according to Bloomberg citing sources
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Credit Suisse (CSGN SW) has appealed to the SNB for a public show of support as share slide sparks wider rout, according to FT; also asked for a similar response from Swiss regulator FINMA
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FED SWAPS PRICE IN 100BP OF RATE CUTS BY DECEMBER 2023 FROM EXPECTED PEAK
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Credit Suisse (CSGN SW) CEO says Credit Suisse is a strong bank and overshoot all regulatory requirements, Co. liquidity base is strong Material weakness refers to financial reporting controls. Have no impact on financial results. Heightened attrition in a moment of change is not surprising; no issues hiring from the market.
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US PPI exFood/Energy YY* (Feb) 4.4% vs. Exp. 5.2% (Prev. 5.4%)
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