The US is poised to exempt smaller lenders from kicking in extra money to replenish the government’s bedrock deposit insurance fund, and instead saddle the biggest banks with much of the bill.
Governor Tiff Macklem acknowledged that a further tightening of financial conditions due to global banking stresses could alter the future path of Bank of Canada interest rates.
(Bloomberg) — Bond traders eyeing the deepening rout in US regional bank shares concluded Thursday that the Federal Reserve is likely to reverse this week’s quarter-point interest-rate increase by July in response to tightening credit conditions.
Pacific West Bancorp, a small lender based outside Portland, Oregon, is seeking to distance itself from a California company with a similar moniker, PacWest Bancorp, whose shares have plummeted amid the recent regional-banking turmoil.
Corporate credit investors are looking to reduce their exposure to risk and issuers are remaining mostly on the sidelines as concerns about regional lenders flare up again.
Oil settled little changed after repeated signs of dwindling demand spurred a three-day crash in the commodity.
Billionaire Stephen Ross is betting on strong demand for new office developments in the US as older buildings empty out.
The Alliance of Motion Picture & Television Producers, which represents Hollywood studios in contract talks with striking writers, said it offered wage increases of close to $97 million.
Some of the world’s biggest asset managers are buying up European corporate bonds — seeing the region as a safer bet as turmoil engulfs US regional banks.
Australian Treasurer Jim Chalmers faces a challenging task as he prepares to hand down his second budget on Tuesday, balancing cost-of-living relief while trying to avoid further fueling inflation.
