Usually when someone throws around a bunch of technical terms to prove how clever they are, they’ll pick words that they themselves only barely grasped recently, thinking them to be the smartest sounding.ផោមក្លិនស្អុយ wrote: ↑Wed Mar 15, 2023 9:51 pmSo, are you not going to educate us on the Elliott Wave, Bollinger Band and Fibonacci Retracement ?
Credit Crunch 2.0 about to start?
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- Sonic1
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SVB CEO Becker was on the SF Fed board, and still ignored warnings.
Freedom is not a state. It is an act. It is not some enchanted garden perched high on a distant plateau.. Freedom is a continuous action we all must take, and each generation must do its part to create an even more fair, more just society.-John Lewis
Greed. One word. That's teh problem.
Fancy graphs, meh.
Hang a few bankers, stop helping them out.
The US govt is just encouraging high-risk investment when they bail them out. No reason to worry about failing.
Fancy graphs, meh.
Hang a few bankers, stop helping them out.
The US govt is just encouraging high-risk investment when they bail them out. No reason to worry about failing.
Kiss my a$$: Credit Suisse wife Lizzie Asher flashes butt amid $54B bailout
https://pagesix.com/2023/03/17/credit-s ... ilout/amp/
https://pagesix.com/2023/03/17/credit-s ... ilout/amp/
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PHNOM PENH, March 19 (Phnom Penh Post/ANN): Cambodian Prime Minister Hun Sen has urged the public not to panic-withdraw funds from their bank accounts amid concerns following the recent bankruptcy of two major US lenders, as industry insiders assured that the Cambodian financial sector would be largely unscathed by fallout from their demise.
Earlier this month, Silicon Valley Bank (SVB) and then Signature Bank were taken over by regulators after collapsing under the weight of billions of US dollars in withdrawal requests made around the same time, triggered by fears of the lenders’ insolvency, in what is termed a “bank run”.
On March 13, President Joe Biden assured that the US banking system remains “safe”, explained how his administration is responding to the situation, and called for more stringent regulations to protect banks against failures.
Speaking at a graduation ceremony in Phnom Penh, the prime minister argued that the fall of the two banks does not pose a significant risk of contagion in the Cambodian banking system, nor will it have a severe impact on the global economy.
“I urge anyone who has deposited money in a [local] bank not to panic,” Hun Sen said, underscoring that doing so would be contrary to the common good.
“We call on the people to place their trust in [regulators’] abilities to manage the Cambodian banking and financial sector – banks have enough reserves to resolve any issues,” the premier stressed.
Although the 1997 Asian financial crisis caused some chaos among Cambodian banks, the adverse effects of the 2008 global financial crisis were minimal in the Kingdom, which at the time raised the reserve requirement ratio (RRR) from seven to 12 per cent to prevent more damaging consequences, he recapped.
RRRs are central bank regulations that set a minimum amount of cash which financial institutions must hold in reserve. The Cambodian RRRs for foreign and domestic currency deposits currently stand at 12.5 per cent and eight per cent, respectively, according to the National Bank of Cambodia’s (NBC) website.
ACLEDA Bank Plc president and group managing director In Channy claimed to The Post on March 16 that Cambodia’s “strict” financial regulatory frameworks, managed by the NBC, would make certain that these developments in the US have negligible bearing on the Kingdom’s banking and financial system.
“It’s isolated from our business environment. And it’ll never impact our banking system and industry at all, since we’re in a very different market environment. The banks here are under Cambodian laws and regulations, and we are supervised and regulated by the NBC.
“Cambodia is a small country, but our regulator [the NBC] is full of experience. They are conservative, but proactive when it comes to risk mitigation. Banks here are in the economic environment of Cambodia. We don’t have anything to worry about, because in the banking business, we’re always cautious at every step we take.
“And of course, we must comply at all times with both local and international regulations. We always keep in mind that there are two important sources of risks – among many – apropos of which, banks must take cautious action all the time: liquidity and credit,” he said.
Cambodia Post Bank (CPBank) CEO Toch Chaochek told The Post on March 16 that the two US banks in question were not large enough to pose systemic risk to the global economy.
He explained that while SVB was indeed large, its tech and start-up focus may have been too niche and risky, and its collapse followed a spate of layoffs in the bank as well as among its clientele, resulting in the closure of a considerable number of accounts.
At least at CPBank, there have been no signs of panic withdrawals, he affirmed. “The financial sector is chugging along as usual, as are lending operations.”
With almost all loans in the Cambodian financial sector secured against collateral, and local sources accounting for a sizeable share of domestic bank capital, “we are 100 per cent secure”, Chaochek stated. - Phnom Penh Post/ANN
Earlier this month, Silicon Valley Bank (SVB) and then Signature Bank were taken over by regulators after collapsing under the weight of billions of US dollars in withdrawal requests made around the same time, triggered by fears of the lenders’ insolvency, in what is termed a “bank run”.
On March 13, President Joe Biden assured that the US banking system remains “safe”, explained how his administration is responding to the situation, and called for more stringent regulations to protect banks against failures.
Speaking at a graduation ceremony in Phnom Penh, the prime minister argued that the fall of the two banks does not pose a significant risk of contagion in the Cambodian banking system, nor will it have a severe impact on the global economy.
“I urge anyone who has deposited money in a [local] bank not to panic,” Hun Sen said, underscoring that doing so would be contrary to the common good.
“We call on the people to place their trust in [regulators’] abilities to manage the Cambodian banking and financial sector – banks have enough reserves to resolve any issues,” the premier stressed.
Although the 1997 Asian financial crisis caused some chaos among Cambodian banks, the adverse effects of the 2008 global financial crisis were minimal in the Kingdom, which at the time raised the reserve requirement ratio (RRR) from seven to 12 per cent to prevent more damaging consequences, he recapped.
RRRs are central bank regulations that set a minimum amount of cash which financial institutions must hold in reserve. The Cambodian RRRs for foreign and domestic currency deposits currently stand at 12.5 per cent and eight per cent, respectively, according to the National Bank of Cambodia’s (NBC) website.
ACLEDA Bank Plc president and group managing director In Channy claimed to The Post on March 16 that Cambodia’s “strict” financial regulatory frameworks, managed by the NBC, would make certain that these developments in the US have negligible bearing on the Kingdom’s banking and financial system.
“It’s isolated from our business environment. And it’ll never impact our banking system and industry at all, since we’re in a very different market environment. The banks here are under Cambodian laws and regulations, and we are supervised and regulated by the NBC.
“Cambodia is a small country, but our regulator [the NBC] is full of experience. They are conservative, but proactive when it comes to risk mitigation. Banks here are in the economic environment of Cambodia. We don’t have anything to worry about, because in the banking business, we’re always cautious at every step we take.
“And of course, we must comply at all times with both local and international regulations. We always keep in mind that there are two important sources of risks – among many – apropos of which, banks must take cautious action all the time: liquidity and credit,” he said.
Cambodia Post Bank (CPBank) CEO Toch Chaochek told The Post on March 16 that the two US banks in question were not large enough to pose systemic risk to the global economy.
He explained that while SVB was indeed large, its tech and start-up focus may have been too niche and risky, and its collapse followed a spate of layoffs in the bank as well as among its clientele, resulting in the closure of a considerable number of accounts.
At least at CPBank, there have been no signs of panic withdrawals, he affirmed. “The financial sector is chugging along as usual, as are lending operations.”
With almost all loans in the Cambodian financial sector secured against collateral, and local sources accounting for a sizeable share of domestic bank capital, “we are 100 per cent secure”, Chaochek stated. - Phnom Penh Post/ANN
Bringing the news. You stay classy, nas, Cambodia.
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UBS seals Credit Suisse takeover in bid to calm market nerves :
March 19 (Reuters) - UBS (UBSG.S) sealed a deal to buy rival Swiss bank Credit Suisse (CSGN.S) in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday.
The Swiss central bank will supply substantial liquidity to the merged bank, it said at a news conference in the Swiss capital, Bern. It said the deal marked a solution to secure financial stability and protect the Swiss economy in an exceptional situation.
A deal value was not immediately clear. A report in the Financial Times earlier put it at more than $2 billion.
Officials have been racing to rescue the 167-year-old bank, among the world's largest wealth managers, after a brutal week saw the second- and third-largest U.S. bank failures in history. As one of 30 global banks seen as systemically important, a deal for Credit Suisse could ripple through global financial markets.
At least two major banks in Europe are examining scenarios of contagion possibly spreading in the region's banking sector and looking to the Federal Reserve and the European Central Bank to step in with stronger signals of support, two senior executives with knowledge of the discussions said.
Source :
https://www.reuters.com/business/crunch ... 023-03-19/
March 19 (Reuters) - UBS (UBSG.S) sealed a deal to buy rival Swiss bank Credit Suisse (CSGN.S) in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday.
The Swiss central bank will supply substantial liquidity to the merged bank, it said at a news conference in the Swiss capital, Bern. It said the deal marked a solution to secure financial stability and protect the Swiss economy in an exceptional situation.
A deal value was not immediately clear. A report in the Financial Times earlier put it at more than $2 billion.
Officials have been racing to rescue the 167-year-old bank, among the world's largest wealth managers, after a brutal week saw the second- and third-largest U.S. bank failures in history. As one of 30 global banks seen as systemically important, a deal for Credit Suisse could ripple through global financial markets.
At least two major banks in Europe are examining scenarios of contagion possibly spreading in the region's banking sector and looking to the Federal Reserve and the European Central Bank to step in with stronger signals of support, two senior executives with knowledge of the discussions said.
Source :
https://www.reuters.com/business/crunch ... 023-03-19/
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
- Sonic1
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USB wrote down the toxic Credit Swiss bonds to zero but stockholders were given like 0.73 cents a share in this deal. USA Bond holders are suing but their is a clause in the bonds fine print that allows for just this type of scenario. Turns out you can not hedge long term bonds yeilding only 1% as the cost would be more than 1%. Nobody does it. Only 5% of SVB depositors fell below the fed guaranteed 250K. Short traders are loading up now on USB and others who are over exposed to these bonds, shown in the following chart in the upper right corner.
Freedom is not a state. It is an act. It is not some enchanted garden perched high on a distant plateau.. Freedom is a continuous action we all must take, and each generation must do its part to create an even more fair, more just society.-John Lewis
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The Chief Risk Officer at Silicon Valley Bank 62-year old Laura Izurieta left ‘“inexplicably” ( ) in April 2022 meaning the bank ran for eight months without a CRO,she also sold her stock in the bank worth USD $7.1 Million after overseeing a bond buying spree leaving SVB vulnerable to the run that put it into liquidation!
It is illegal in the U.S. under Federal Law to NOT have a Chief Risk Officer for exactly this reason,luckily nobody will now be prosecuted as the bank no longer exists what are the chances?
Source :
https://www.dailymail.co.uk/news/articl ... llion.html
It is illegal in the U.S. under Federal Law to NOT have a Chief Risk Officer for exactly this reason,luckily nobody will now be prosecuted as the bank no longer exists what are the chances?
Source :
https://www.dailymail.co.uk/news/articl ... llion.html
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
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If you thought Confessions of an Economic Hitman was a good read then watching Princes of the Yen, based on Richard Werner's book, will explain what's going on.
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Completely irrelevant to the story on every level. WTF is with this forum and casual transphobia? Grow up.
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You misunderstood. RobW was simply pointing out CS was fortunate to have such a talented creature individual among their top executivesnerdlinger wrote: ↑Fri Mar 24, 2023 8:55 amCompletely irrelevant to the story on every level. WTF is with this forum and casual transphobia? Grow up.
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Why do idiots like you insist on trying to bring your pathetic,woke Western values to South-East Asia?nerdlinger wrote: ↑Fri Mar 24, 2023 8:55 amCompletely irrelevant to the story on every level. WTF is with this forum and casual transphobia? Grow up.
NOBODY CARES!
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
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Why do they always look like fridge freezers / geezers in a wig?
Oh that’s right because it’s exactly what they are!
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
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