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Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure.
With Credit Suisse Group AG having wobbled this week and a handful of regional US banks collapsing, company executives are getting more concerned about where they can safely keep their cash.
Shares in Credit Suisse resumed their decline on Friday, giving up early gains, in a sign that investor sentiment remains fragile in a week that has seen the troubled Swiss lender secure a $54 billion lifeline.
First Republic Bank shares tumbled again on Friday, set for their worst week ever, as sentiment around the lender remained fragile even after proposals for $30 billion of aid from Wall Street’s biggest banks.
Spreading the risk of financial contagion to achieve “a false sense of confidence” in First Republic Bank is “bad policy”, Pershing Square’s Bill Ackman said in a tweet.
If there’s one lesson from the European Central Bank’s latest monetary policy meeting, it’s that bond market volatility is here to stay.
U.S. banks flocked to the Federal Reserve's lending facilities last week as never before, damping hopes that the financial system can quickly move on past the volatility of the last two weeks.
The Federal Reserve and the European Central Bank must press ahead with interest-rate increases and not be blown off course by the fragility of the global economic recovery and vulnerabilities in the financial system, the OECD said.
‘That’s a Lie’: GOP Senators Press Yellen on the Lack of a Social Security Plan in Biden’s BudgetMar 17, 2023 - 05:25:29 PDT
During an appearance before lawmakers on the Senate’s Finance committee, Treasury Secretary Janet Yellen was repeatedly pressed in often heated terms by Republicans about the lack of a Social Security plan in President Biden’s recent budget proposal.
A quick visual explanation as to how a few banks failed and the fallout it's causing.
Global Turmoil Makes Australian Banks’ Refinancing Mountain a Harder ClimbMar 17, 2023 - 05:19:56 PDT
An A$300 billion ($201.21 billion) refinancing task for Australia's biggest banks is about to get harder, say analysts, as appetite for new debt shrinks across global markets roiled by concerns about bank stability and liquidity.
\US equity-index futures slipped on Friday and Treasuries gained, capping a tumultuous week for global markets with another risk-off turn amid concern that the financial turmoil which has roiled bonds and stocks is not over.\
Friday gold wrap host Mike Maharrey has been saying something is going to break in the economy for months due to the Federal Reserve's monetary tightening to fight price inflation. Last Friday, something broke when Silicon Valley Bank collapsed followed quickly by the demise of Signature Bank. It was the first crack in the dam. The Fed rushed in to plug the leak, but was it enough? In this episode of the podcast, Mike talks about the response to these bank failures and the possible ramifications.
While the Fed and central banks are trying to Paper over this current Banking Crisis 2.0, this time is indeed different. I will be doing a very Important Precious Metals & Banking Report this weekend, so look out for it. However, these are three crucial charts to show why this banking crisis is different...
The Texas Senate has proposed a bill that aims to recognize gold and silver as currency rather than commodities, which could potentially challenge the Federal Reserve's control over the monetary system if approved.
The Australian dollar gold price hit an all-time record of A$2874 per ounce overnight, exceeding the previous high of A$2868 per ounce recorded on 6 August 2020, according to Melbourne-based gold mining consultants Surbiton Associates.
Gold prices edged higher on Thursday, bouncing towards last session's 1-1/2 month peak as concerns about the banking crisis continue after the European Central Bank hiked interest rates despite the ongoing financial stability risks.
Gold Market, Prices May Be Telling Investors It’s ‘the Beginning of a Broader Crisis’: ETF ExpertMar 16, 2023 - 12:56:54 PDT
GraniteShares Founder and CEO Will Rhind joins Yahoo Finance Live to discuss the state of the gold market.
Mar 16, 2023 - 12:54:20 PDT
Spain’s government has authorized funds for the production of a new series of gold bullion coins to meet the rising demand for these products. The Spanish National Coin Factory will acquire 40 million euros worth of top-quality gold pieces, which is a significantly larger amount of gold than the previous coin series.
Big Banks Agree To Historic $30 Billion Unsecured Deposit Injection In First Republic BankMar 16, 2023 - 12:42:26 PDT
So Big Banks are now parking their excess reserves/cash at Small Banks in a costless bailout funded by the Fed. Remember: Big Banks still have lots of reserves left; Small Banks are reserve constrained