Credit Suisse borrows up to CHF 50 billion

Entrance area of ​​the Swiss National Bank Credit Suisse wants to take out loans of up to CHF 50 billion from the SNB. Bild: imago images/Andreas Haas Zürich Surprising turnaround at Credit Suisse: The ailing Swiss bank now wants to take out loans from the Swiss National Bank (SNB) of up to CHF 50 billion (EUR […]

Banking Association sees no direct dangers for German institutions

After SVB bankruptcy, Biden urges greater regulation of large banks US President Joe Biden wants to strengthen the supervision and regulation of large banks after the bankruptcy of California’s Silicon Valley Bank (SVB). “I am determined to hold those responsible for this mess accountable and to continue our efforts to increase oversight and regulation of […]

Major shareholder leaves Credit Suisse and questions the future of wealth management

Swiss credit In the 2022 financial year, the bank suffered its highest loss since the financial crisis at CHF 7.3 billion. (Photo: Reuters) Zürich Long-time Credit Suisse shareholder Harris Associates has left the crisis-ridden Swiss bank completely. Harris began reducing its stake in October and has now completely divested itself of it, Harris vice president […]

Banks benefit from customer inertia

Bank towers in Frankfurt Most banks do not yet pay interest on call money. Your customers won’t run away either. (Photo: dpa) The European Central Bank (ECB) has raised interest rates several times. The interest on deposits, which is decisive for commercial banks, is 2.5 percent. And yet most banks in Germany do not pay […]

The federal government assumes export risks for medium-sized companies

The Federal Ministry of Economics and the Federal Ministry of Finance have agreed to make it easier for German medium-sized companies to do business with other countries by providing loan guarantees. This will help the German economy to spread its export buyers more widely and reduce geopolitical risk. Finance State Secretary Florian Toncar (FDP) said: […]

Bitcoin Group is about to take over the Munich bank von der Heydt

Data center in Iceland Bankhaus von der Heydt was recently also active in the application of blockchain technology. (Photo: Reuters) Frankfurt The Bitcoin Group from Herford is considering taking over the Munich bank von der Heydt. The company confirmed a report by the Bloomberg news agency on Friday. Only at the beginning of the year […]

Billions in fines for financial companies in the US for messenger services

NEW YORK Employees of the financial institutions exchanged information on business matters via messenger apps. The US authorities saw this as a serious breach of the rules, since the companies could not archive the communication in the encrypted services as required. SEC boss Gary Gensler criticized that the financial firms had thereby damaged market confidence. […]

Credit Suisse plans to sue Softbank over greensill loans

Credit Suisse – Subsidiary in Geneva The second largest Swiss bank is considering a lawsuit against the Softbank Group to compensate for losses from the bankruptcy of its fund partner Greensill. (Foto: Bloomberg) The major Swiss bank Credit Suisse is trying to use legal means to recover losses from the bankruptcy of its fund partner Greensill […]

Commerzbank expects high burdens from Polish subsidiary

Commerzbank headquarters in Frankfurt Despite the expected one-off charges, Commerzbank is sticking to its annual target. Bild: Bloomberg/Getty Images Frankfurt Commerzbank has to digest high burdens again at its Polish subsidiary M-Bank. Because of a new law to suspend installment payments for real estate loans, M-Bank expects negative income of 210 to 290 million euros in […]