Share this page!

CN Wire Profile picture
Twitter logo
Mar 19 • 4 tweets • 3 min read
SWISS FINMA APPROVES MERGER OF UBS, CREDIT SUISSE.
#CreditSuisse #UBS #BankingCrisis
FINMA: GOV'T SUPPORT WILL TRIGGER A COMPLETE WRITE-DOWN OF THE NOMINAL VALUE OF ALL AT1 SHARES OF CREDIT SUISSE IN THE AMOUNT OF AROUND CHF 16 BILLION. ON THIS BASIS, IT WILL BE POSSIBLE TO CONTINUE ALL THE BUSINESS ACTIVITIES OF BOTH BANKS WITH NO RESTRICTIONS OR INTERRUPTIONS.
FINMA: SNB MOVE WILL PROVIDE SUFFICIENT LIQUIDITY TO CARRY OUT THE TAKEOVER. WILL ALSO COORDINATE WITH NATIONAL AND INTERNATIONAL AUTHORITIES , NAMELY THE US FEDERAL RESERVE AND THE BRITISH PRUDENTIAL REGULATORY AUTHORITY.
#CreditSuisse #UBS #BankingCrisis
FINMA: SWISS CONFEDERATION TO ALSO PROVIDE GUARANTEES FOR POTENTIAL LOSSES OF CERTAIN ASSETS THAT UBS WILL ACQUIRE AS PART OF THE TRANSACTION, IF THESE LOSSES EXCEED A SPECIFIC THRESHOLD.
#CreditSuisse #UBS #BankingCrisis

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with CN Wire

CN Wire Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Sino_Market

CN Wire Profile picture
Mar 19
US FED SAYS FED AND CENTRAL BANKS OF ENGLAND, CANADA, JAPAN, ECB AND SWITZERLAND ANNOUNCE COORDINATED ACTION TO ENHANCE THE PROVISION OF LIQUIDITY VIA THE STANDING U.S. DOLLAR LIQUIDITY SWAP LINES.
US FED SAYS FED AND CENTRAL BANKS OF ENGLAND, CANADA, JAPAN, ECB AND SWITZERLAND ANNOUNCE COORDINATED ACTION TO ENHANCE THE PROVISION OF LIQUIDITY VIA THE STANDING U.S. DOLLAR LIQUIDITY SWAP LINES.
US FED: DAILY OPERATIONS WILL COMMENCE ON MONDAY AND WILL CONTINUE AT LEAST THROUGH THE END OF APRIL.
Read 4 tweets
CN Wire Profile picture
Mar 19
SNB: UBS TODAY ANNOUNCED THE TAKEOVER OF CREDIT SUISSE. BOTH BANKS HAVE UNRESTRICTED ACCESS TO THE SNB’S EXISTING FACILITIES.
#CreditSuisse #UBS #BankingCrisis
SNB: THIS TAKEOVER WAS MADE POSSIBLE WITH THE SUPPORT OF THE SWISS FEDERAL GOVERNMENT, THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY FINMA AND THE SWISS NATIONAL BANK.
#CreditSuisse #UBS #BankingCrisis
SNB: SNB CAN GRANT CREDIT SUISSE A LIQUIDITY ASSISTANCE LOAN OF UP TO CHF 100 BILLION BACKED BY A FEDERAL DEFAULT GUARANTEE. SUBSTANTIAL PROVISION OF LIQUIDITY WILL ENSURE THAT BOTH BANKS HAVE ACCESS TO THE NECESSARY LIQUIDITY.
#CreditSuisse #UBS #BankingCrisis
Read 4 tweets
CN Wire Profile picture
Mar 17
⚡China mulls efforts to maintain supply and price of iron ore: NDRC
#China #IronOre
⚡#China state planner says has carried out field research to conduct in-depth research on #IronOre supply and price stability.
China state planner NDRC: Visit Qingdao Port and Tangshan Port to conduct research, learn about iron ore inventories and stockpiling charges at ports, evaluate situation of iron ore market and price, and study work of ensuring supply and stable price of iron ore.
#China #IronOre
Read 4 tweets
CN Wire Profile picture
Mar 17
JUST IN:
#CHINA CENTRAL BANK TO CUT RRR BY 25 BPS FROM MARCH 27.
$CNH $CNY
#CHINA CENTRAL BANK PBOC REITERATES PRUDENT, FORCEFUL MONETARY POLICY.
$CNH $CNY
#China central bank: Will keep total amount of money and credit at an appropriate and steady pace, and maintain reasonable and sufficient liquidity.
$CNH $CNY
Read 6 tweets
CN Wire Profile picture
Mar 5
🇨🇳Key takeaways of 2023 #China Government Work Report:
🔸GDP growth target at around 5%
🔸CPI growth target at about 3% unchanged
🔸Budget deficit at 3% of GDP vs 2.8% 2022
🔸Add 12 million urban jobs in 2023 vs 11 mln 2022.
🔸Plans 3.8 tln yuan special gov bond sales vs 3.65
1/n
🇨🇳Key takeaways of 2023 #China Government Work Report:
🔸Focus on expanding domestic demand, consumption
🔸More proactive fiscal policy
🔸Money supply growth to match nomical GDP growth
🔸Keep yuan exchange basically stableshore
🔸Shore up B/S of property companies
2/n
🇨🇳Key takeaways of 2023 #China Government Work Report:
🔸Improve preferential tax & fee policies
🔸Tech policies will focus on self-reliance
🔸Increase grain output by 50 million tons
🔸Push Covid-19 vaccine & drug upgrade
🔸Support elderly care & fertility
3/n
Read 4 tweets
CN Wire Profile picture
Mar 3
JUST IN:
Saudi Arabia, UAE Clash Over Oil, Yemen Amid Growing Rift: WSJ Sources
#OOTT
Saudi Crown Prince Mohammed bin Salman Skipped Abu Dhabi Summit in January to Snub Emiratis: WSJ Sources
#OOTT #OPEC
Now, said Emirati officials say, the U.A.E. is having an internal debate about leaving OPEC, a decision that would shake the cartel and undermine its power in global oil markets.
#OOTT #OPEC #Saudi #UAE
wsj.com/articles/saudi…
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

Send Email!

:(