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MADRID (Reuters) – Spanish banks’ exposure to Swiss lender Credit Suisse is immaterial and lower than 1 billion euros ($1.06 billion), a source with knowledge of the matter said on Thursday. “The total exposure from Spanish lenders to Credit Suisse is well below 1 billion euros,” the source said, without elaborating further. Credit Suisse in …

Spanish banks’ exposure to Credit Suisse well below 1 billion euros, source says Read More »

(Reuters) – Ratings agency S&P on Thursday said the fallout from Silicon Valley Bank’s collapse may not lead to any rating actions on Asia-Pacific banks as they are well placed to absorb potential contagion effects. The direct exposure of APAC banks to SVB is negligible and secondary impacts are manageable, the agency said, adding that …

S&P says SVB fallout won’t lead to rating actions on APAC banks Read More »

By Hannah Lang (Reuters) – The U.S. consumer finance watchdog launched an inquiry on Wednesday to examine companies that track and collect personal data, requesting public feedback about the business models and practices data brokers use. The U.S. Consumer Financial Protection Bureau’s request for information marks the latest move from the regulator to explore how …

U.S. consumer finance watchdog opens inquiry into data brokers Read More »

(Reuters) – The U.S. central bank will launch its “FedNow” instant payment service in July, the Federal Reserve said on Wednesday, with certification and testing for early adopters starting in the first week of April. Announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system. (Reporting by Ann Saphir, Editing …

Fed’s new instant payments system to launch in July Read More »

By Jonathan Stempel (Reuters) – A federal appeals court on Wednesday upheld a $5.6 billion antitrust class-action settlement with more than 12 million retailers that accused Visa Inc and MasterCard Inc of improperly fixing credit and debit card fees. The 2nd U.S. Circuit Court of Appeals in Manhattan rejected claims that a class action should …

Visa, MasterCard $5.6 billion settlement with retailers is upheld Read More »

By David Carnevali NEW YORK (Reuters) – U.S. stocks pared losses late on Wednesday but the Dow and S&P 500 still closed lower, as problems at Credit Suisse revived fears of a banking crisis, eclipsing bets on a smaller U.S. rate hike this month. Benchmark indexes regained some ground in late trade after Bloomberg reported …

Wall Street down as Credit Suisse sparks fresh bank selloff Read More »

WASHINGTON (Reuters) – The Federal Deposit Insurance Corp deposited $40 billion back into the U.S. Treasury General Account on Tuesday, reversing a $40 billion withdrawal on Friday as the regulator took control of the failed Silicon Valley Bank, Treasury financial data released on Wednesday showed. A Treasury spokesperson referred questions about the matter to the …

FDIC returned $40 billion in U.S. Treasury funds, reversing withdrawal after SVB takeover Read More »

TORONTO (Reuters) – Canada’s main stock index fell 1.6% on Wednesday, dragged down by energy and financial stocks as Credit Suisse spooked world markets, renewing concerns of a banking crisis. By provisional close on Wednesday, the Toronto Stock Exchange’s S&P/TSX composite index was down 315.32 points at 19378.84, its worst day since December 2022. “We’re …

Credit Suisse fears hit Toronto’s main stock index Read More »