About the collapse of silicon bank west church of the largest Bank Failures in u. S. History. Congressman mchenry discussed the role the Federal Reserve and the Deposit Insurance Corporation Bank Regulation of Risk Management. This event as hope and by the brookings institution. Kground noises] [background noises] good morning everybody. Im director on fiscal and Monetary Policy and be half the hutch and Center Center on me you to this event both the people in the room and the people watching remotely. Our subject today is what lessons we have learned from the really interesting efforts of march 2023. A year ago the glol Financial System suffered the most significant banking stress since the Global Financial crisis of 2007 and eight. As you all probably know if event Silicon Valley bank failed prompt and the fdic to take it over the middle of the dayay could not even make d it to the weekend which is as a one off event. Silicon valley was certainly for lack of a better term unusual. Th
Nt is hosted by the brookings institution. David good morning, everybody im director of financial policy here at brookings. Id like to welcome you to this event, both the people in the room and people watching remotely. Our subject today is what lessons we have learned from the really interesting episodes of march, 2023,. A year ago the Global Financial system sthiferred most significant banking stress the Global Financial crisis of 20072008. As you all probably know, Silicon Valley bank failed prompting the fdic take it over in the middle of the day couldnt even wait until the weekend, which is really unusual. Its tempting to see this as a oneoff event. Silicon valley was, for want of a better term, unusual. Almost all its deposits were uninsured, it was woefully unprepared for an increase in Interest Rates, but it was followed by what some have called the panic of 20 if thenature bank and First Republic and oversea credit suisse. To arrest what u. S. Authorities feared was a spreadin
the government of new york, the governor of georgia and the government of the united states but before do we just the wet kisses pass between xi and putin? that is serious business outage or a group series businesses put out for both the chinese president xi jinping visit moscow at his first trip abroad from both no surprise to those who have been watching carefully. when one steps back and analyzes the relationship between china and russia, the real fox cannot be denied. along the dimensional personal, economic, diplomatic, the undeclared alliance that xi is with unreported has become much more consequential than most of the united states official lloyd s is today. the greatest art we have is china. is not russia, sought a wrong, it is china. that is like saying before world war ii but at the precipice. the greatest threat we face is italy but not japan and germany. this is a complete lack of knowledge of what s taking place here. china is on the move. it is not fortress in
Haidi welcome to daybreak australia. We are counting down to asias major market opens. Annabelle the top stories this hour, asian stocks set for early gains with the best threeday rally since november on bets of fed rate cut this year is still on the cards. Australias reserve bank looking set for a hawkish hold. Haidi and anz with a buyback is the first time i earnings miss estimates. We speak with the group ceo, Shane Elliott. Annabelle israel rejects the ceasefire plan backed by hamas. We check on how u. S. Futures are coming online this morning. We just come off the best threeday rally for stocks going back to november of last year. The s p 500 pushed above its 50 Day Moving Average in the prior session. It all comes down to a Solid Earnings season that has been driving optimisms and expectations at the fed will cut rates later this year. We heard from the citadel ceo about this. Take a listen. There likely there still question of will inflation accelerating up by then. Deglobalizat
London. This is what we are talking about today and tomorrow, when the fed decision comes. How are the markets starting the week . Lets get straight to mark barton. Mark not as bad as they were on friday. Slidll country world index on friday, 1 trillion of value disappeared on friday. Its looking better today, look at the index. This is the msci, it has risen for the first day i ann nine. We had some better than forecast data from china over the weekend, industrial output retail sales, all beating forecast, signaling the worldss secondbiggest economy is stabilizing. Emergingmarket stocks are rebounding, crude is falling for a second consecutive day. In that period, as you can see, oil is down by 14 , iran pledging to boost crude exports despite the global glut. Speculators have increased bets on Falling Oil Prices to an alltime high after opec essentially scrapped production quotas. This is the big currency move of the day, just a oneday chart coming close. The rand has risen the most