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hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have agreed to make $30 billion of uninsured deposits in first republic. they have done this in the hope that it will be enough to shore u ....
In its amended generally and the pressure of a recession. d0 the pressure of a recession. do ou the pressure of a recession. do you think we re going to see you think we re going to see governments running out of cash? ~ .,, governments running out of cash? . ., , cash? most particularly. if we do see unfortunately - do see unfortunately a recession coming forward unemployment will go up. i think quite a few companies could get into difficulty and i am not talking about banks. i am not talking about banks. i am talking about ordinary companies, perhaps some that are overleveraged and zombie companies struggling to pay their bills and some that are private in nature and depended on bank borrowings and if the costis on bank borrowings and if the cost is higherfor longer on bank borrowings and if the cost is higher for longer that could affect them so i think unemployment will drive up the cost of government costs and specifically i think governments will find they are running out of cash ....
Along they have had to go up. we also known at what kind of rate and how far, etc, so why this crisis of confidence in the banking sector now? yes, ou the banking sector now? yes, you know. the banking sector now? yes, you know. i the banking sector now? yes, you know, i think the banking sector now? yes, you know, i think it the banking sector now? yes, you know, i think it is - the banking sector now? yes, you know, i think it is a - you know, i think it is a combination of factors. what s important to note is that silicon valley bank was a very unique bank and the extent of duration, you know, where they got assets with a much longer duration than the short term liabilities they had on their books, it is not something that you will find at all other banks. in all fairness, banks actually benefit from higher interest rates. that s the whole irony of this. and what you really seen are concerns around accounting ....
Hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have ....