Posted on 03/15/2023 5:14:10 AM PDT by Kaiser8408a
Apparently, the NEO financial crisis (not the subprime, but The Fed’s “too low for too long” crisis is still with us.
Credit Suisse Group AG’s top shareholder, whose stake has lost more than one-third of its value in three months, ruled out investing any more in the troubled Swiss bank as a bigger holding would bring additional regulatory hurdles.
“The answer is absolutely not, for many reasons outside the simplest reason, which is regulatory and statutory,” Saudi National Bank Chairman Ammar Al Khudairy said in an interview with Bloomberg TV on Wednesday. That was in response to a question on whether the bank was open to further injections if there was another call for additional liquidity.
The material weaknesses relate to the failure to design and maintain an effective risk assessment to identify and analyze the risk of material misstatements in its financial statements and the failure to design and maintain effective monitoring activities relating to: – Providing sufficient management oversight over the internal control evaluation process to support the Group’s internal control objectives – Involving appropriate and sufficient management resources to support the risk assessment and monitoring objectives Assessing and communicating the severity of deficiencies in a timely manner to those parties responsible for taking corrective action
And it could simply be that Credit Suisse was caught in the Central Bank “Bear Trap” where banks get clobbered as interest rates rise.
And on the “it ain’t over till its over” news from Credit Suisse, the US Treasury 2-year yield plunged -21.5 basis points.
And the US Treasury 10-year yield plunged -17.1 basis points.
The official logo of the Federal Reserve should be Munch’s The Scream.
Let’s get ready to stumble!
(Excerpt) Read more at confoundedinterest.net ...
Yes. The JoeTatoe's puppeteers just couldn't help themselves in The Divinity of Their Wokeness, and had to go after MBS over the fake journalist.
Now that Biden has unilaterally declared that the United States government will guarantee all deposits of any kind, the next bank failure if systemwide will not just bring down the banks but our government.
Does this sound like sovereign debt crisis?
It probably sounds good to the Marxist Democrats.
World 🌎🌍
Digital
Currency
I say it’s coming
🛐🙏✝️
The only problem is that the Swiss used to be a reliable neitral anonymous place to hide your money for centuries. It is a single thing they were famous for.
Then they decided to seize Russian reserves....
“Build Back Better” means destroying first.
Oh, you mean people didn’t actually consider this before voting for Biden?
The Russian Troll Farm that posts as NorseViking is as truth challenged as ever. Russian assets in Switzerland have been frozen, but the Swiss Government has categorically ruled out seizing them.
Switzerland rules out confiscating Russian assets over Ukraine war (Financial Times)
Swiss government: confiscation of Russian assets found unconstitutional (Reuters)
But your concern for your Kleptocrat masters is touching.
Frozen, seized....what difference does it make? Not safe anymore.
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