Banking Turmoil Continues: UBS Profits Hit, Credit Suisse Fallout Persists.
TL;DR
Investors are being reminded of the banking turmoil that occurred last month, with Silicon Valley Bank and Signature Bank failing. The Federal Reserve calmed nerves by allowing all lenders to borrow against bonds at face value. In Europe, Credit Suisse was absorbed by larger rival UBS when it was against the ropes. Brace for more jitters in the banking industry.
- First Republic Laid Bare The Extent of Banking Turmoil. Brace for More Jitters. Barron's
- UBS profits hit by legacy legal costs as it nears Credit Suisse merger CNBC
- UBS reaps $28B in new money amid Credit Suisse fallout ABC News
- Matt Levine's Money Stuff: Credit Suisse's Great Awful Quarter Bloomberg
- UBS's Rapidly Shrinking Credit Suisse Rescue Bloomberg
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