| Something seems seriously amiss in bank world. on 19:26 - Mar 19 with 1967 views | BanksterDebtSlave |
 |  |
|  |
| Something seems seriously amiss in bank world. on 19:37 - Mar 19 with 1921 views | Pinewoodblue |
I know you are knowledgeable on these things, do you anticipate a run on Swiss cheese? |  |
| |
| Something seems seriously amiss in bank world. on 19:41 - Mar 19 with 1907 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 19:37 - Mar 19 by Pinewoodblue |
I know you are knowledgeable on these things, do you anticipate a run on Swiss cheese? |
Are you fondue of melt downs? | |
| |
| Something seems seriously amiss in bank world. on 19:43 - Mar 19 with 1899 views | factual_blue |
Do you mean money free? Resort to barter? |  |
| |
| Something seems seriously amiss in bank world. on 19:50 - Mar 19 with 1867 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 19:43 - Mar 19 by factual_blue |
Do you mean money free? Resort to barter? |
Have you ever tried to withdraw all of your savings digitally? | |
| |
| Something seems seriously amiss in bank world. on 20:00 - Mar 19 with 1833 views | factual_blue |
| Something seems seriously amiss in bank world. on 19:50 - Mar 19 by BanksterDebtSlave |
Have you ever tried to withdraw all of your savings digitally? |
No. Only other people's. | |
| |
| Something seems seriously amiss in bank world. on 20:13 - Mar 19 with 1806 views | Herbivore |
Seriously, if the banks have fooked it again then it's time for the revolution to begin. |  |
| |
| Something seems seriously amiss in bank world. on 20:14 - Mar 19 with 1801 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 20:13 - Mar 19 by Herbivore |
Seriously, if the banks have fooked it again then it's time for the revolution to begin. |
It was never solved the last time! They wanted free cash at zero/negative interest for ever. [Post edited 19 Mar 2023 20:15]
| |
| |
Login to get fewer ads
| Something seems seriously amiss in bank world. on 20:52 - Mar 19 with 1751 views | Guthrum |
Of course, these mass destabilising withdrawals could be economic warfare by Russia (or China) ...
 |  |
| |
| Something seems seriously amiss in bank world. on 21:34 - Mar 19 with 1681 views | NthQldITFC |
| Something seems seriously amiss in bank world. on 19:50 - Mar 19 by BanksterDebtSlave |
Have you ever tried to withdraw all of your savings digitally? |
Does that mean when you go up to the cashier with a pointy finger inside a carrier bag?
(If so, for the avoidance of doubt, no.) |  |
| |
| Something seems seriously amiss in bank world. on 00:42 - Mar 20 with 1523 views | factual_blue |
What I'm most worried about is whether the takeover by USB will effect the production of charger cables. | |
| |
| Something seems seriously amiss in bank world. on 00:57 - Mar 20 with 1495 views | Illinoisblue |
| Something seems seriously amiss in bank world. on 00:42 - Mar 20 by factual_blue |
What I'm most worried about is whether the takeover by USB will effect the production of charger cables. |
This is a dad joke mixed with a grandad joke sprinkled with a great-grandad joke. |  |
| |
| Something seems seriously amiss in bank world. on 06:52 - Mar 20 with 1352 views | nrb1985 |
| Something seems seriously amiss in bank world. on 20:13 - Mar 19 by Herbivore |
Seriously, if the banks have fooked it again then it's time for the revolution to begin. |
They haven't, just one extremely badly run bank has fooked themselves. |  | | |
| Something seems seriously amiss in bank world. on 07:08 - Mar 20 with 1330 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 06:52 - Mar 20 by nrb1985 |
They haven't, just one extremely badly run bank has fooked themselves. |
And a few American ones. | |
| |
| Something seems seriously amiss in bank world. on 07:33 - Mar 20 with 1287 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 06:52 - Mar 20 by nrb1985 |
They haven't, just one extremely badly run bank has fooked themselves. |
Looks like we'll probably end up having to bail out all those poor bond holders.....you know, for our own good....pensions or something!!
https://www.theguardian.com/business/live/2023/mar/20/markets-bank-shares-slide-
"Investors are concerned about the massive hit some Credit Suisse bondholders would take under the UBS acquisition, given that $17bn worth of riskier AT1 bonds are being wiped out under the deal (see opening post).
That decision, by the Swiss regulator, has angered some debt holders thought they would be better protected than shareholders in the takeover deal announced on Sunday.
This has created worries about what that might mean for holders of AT1 bonds issued by other banks , at a time of high nervousness about the financial system.
Shares in Standard Chartered have fallen 5% in Hong Kong trading, while HSBC has tumbled 7%......" | |
| |
| Something seems seriously amiss in bank world. on 07:37 - Mar 20 with 1283 views | SuperKieranMcKenna |
| Something seems seriously amiss in bank world. on 20:52 - Mar 19 by Guthrum |
Of course, these mass destabilising withdrawals could be economic warfare by Russia (or China) ...
|
The withdrawals been going on for some months prior to the current crisis, slowly depleting capital and a long run of decreasing share price.
Those Swiss do have form for holding wealth of dubious origin of course… | | | |
| Something seems seriously amiss in bank world. on 08:30 - Mar 20 with 1218 views | Guthrum |
| Something seems seriously amiss in bank world. on 07:37 - Mar 20 by SuperKieranMcKenna |
The withdrawals been going on for some months prior to the current crisis, slowly depleting capital and a long run of decreasing share price.
Those Swiss do have form for holding wealth of dubious origin of course… |
Credit Suisse has been in a spot of bother for some considerable time, with a series of damaging scandals and fines.
Saw something this morning saying that the (high risk) bondholders who are getting most upset about the rescue package are the same people who refused extra funds for the bank when they first asked. A bit like gamblers becoming angry when their 100-1 outsider comes last, but in a position to pull down the whole stable.
SVB were investors in tech startups with, so I read, a sideline in Crypto. Which sounds alarmingly high-risk all round. | |
| |
| Something seems seriously amiss in bank world. on 08:34 - Mar 20 with 1202 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 08:30 - Mar 20 by Guthrum |
Credit Suisse has been in a spot of bother for some considerable time, with a series of damaging scandals and fines.
Saw something this morning saying that the (high risk) bondholders who are getting most upset about the rescue package are the same people who refused extra funds for the bank when they first asked. A bit like gamblers becoming angry when their 100-1 outsider comes last, but in a position to pull down the whole stable.
SVB were investors in tech startups with, so I read, a sideline in Crypto. Which sounds alarmingly high-risk all round. |
On a positive note, oil prices are the lowest since Dec 21 so we can all expect to see much cheaper fuel shortly! | |
| |
| Something seems seriously amiss in bank world. on 08:36 - Mar 20 with 1200 views | nrb1985 |
| Something seems seriously amiss in bank world. on 08:30 - Mar 20 by Guthrum |
Credit Suisse has been in a spot of bother for some considerable time, with a series of damaging scandals and fines.
Saw something this morning saying that the (high risk) bondholders who are getting most upset about the rescue package are the same people who refused extra funds for the bank when they first asked. A bit like gamblers becoming angry when their 100-1 outsider comes last, but in a position to pull down the whole stable.
SVB were investors in tech startups with, so I read, a sideline in Crypto. Which sounds alarmingly high-risk all round. |
Spot on with that middle paragraph.
Some people obviously didn't read their prospectus properly :) Coco/AT1 bonds can be wiped out, i.e. not converted into equity, under several scenarios which would all have been outlined in the bond prospectus.
They are upset because the equity holders will get back 0.75c per share while they're wiped out totally. But this is not a bankruptcy so there is no reason for the holders of the Cocos to be ranked higher than the equity holders in this instance.
UBS clearly didn't want the debt and therefore this was the only way a deal was going to get done. That's the issue with having just one buyer :) Truly a national embarrassment for the Swiss and the regulator here. As others have pointed out in this thread, CS issues have been ongoing for some time, plenty of time therefore for FINMA to get to grips with what's been going on like the German regulator did when Deutsche was in trouble a few years ago. | | | |
| Something seems seriously amiss in bank world. on 08:38 - Mar 20 with 1188 views | Guthrum |
| Something seems seriously amiss in bank world. on 08:34 - Mar 20 by BanksterDebtSlave |
On a positive note, oil prices are the lowest since Dec 21 so we can all expect to see much cheaper fuel shortly! |
Ha! | |
| |
| Something seems seriously amiss in bank world. on 08:52 - Mar 20 with 1157 views | NthQldITFC |
| Something seems seriously amiss in bank world. on 00:42 - Mar 20 by factual_blue |
What I'm most worried about is whether the takeover by USB will effect the production of charger cables. |
Fear not, USBs are just marketing ordure, there will be other ones which are just as good in reality. | |
| |
| Something seems seriously amiss in bank world. on 09:09 - Mar 20 with 1131 views | giant_stow |
| Something seems seriously amiss in bank world. on 08:30 - Mar 20 by Guthrum |
Credit Suisse has been in a spot of bother for some considerable time, with a series of damaging scandals and fines.
Saw something this morning saying that the (high risk) bondholders who are getting most upset about the rescue package are the same people who refused extra funds for the bank when they first asked. A bit like gamblers becoming angry when their 100-1 outsider comes last, but in a position to pull down the whole stable.
SVB were investors in tech startups with, so I read, a sideline in Crypto. Which sounds alarmingly high-risk all round. |
UBS down 12% this morning apparently - who rescues them if they go bust? |  |
| |
| Something seems seriously amiss in bank world. on 09:16 - Mar 20 with 1106 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 09:09 - Mar 20 by giant_stow |
UBS down 12% this morning apparently - who rescues them if they go bust? |
Is your memory really that bad Ullaa!?! | |
| |
| Something seems seriously amiss in bank world. on 09:17 - Mar 20 with 1099 views | ClareBlue |
| Something seems seriously amiss in bank world. on 09:09 - Mar 20 by giant_stow |
UBS down 12% this morning apparently - who rescues them if they go bust? |
Tax payer of course, like we always do. | | | |
| Something seems seriously amiss in bank world. on 09:20 - Mar 20 with 1080 views | BanksterDebtSlave |
| Something seems seriously amiss in bank world. on 06:52 - Mar 20 by nrb1985 |
They haven't, just one extremely badly run bank has fooked themselves. |
So absolutely no interconnectedness contagion risk then?
"Banks including Deutsche Bank, Commerzbank and BNP Paribas are trading sharply lower with German banks understood to have direct financial exposure of at least $11.5 billion to Swiss banks....." | |
| |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
