the SPD Silicon Valley Bank (SSVB) was a 50-50 joint venture between the Chinese Communist Party (CCP) state-owned Shanghai Pudong Development Bank and SVB Financial," the letter reads. It continues, ... ( read original story ...)
Central bank conducts reverse repos
The People's Bank of China on Friday conducted 7 billion yuan ($1.02 billion) of seven-day reverse repos at an interest rate of 2 percent. The move is aimed at keeping liquidity reasonable and ample ... ( read original story ...)
Deutsche Bank tumbles as nervous investors seek safer shores
Deutsche Bank logo and decreasing stock graph are seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo ... ( read original story ...)
UPDATE 2-China banking regulator says discussed economy with HSBC CEO
Quinn said HSBC would continue to strengthen its business in the Shanghai and would further provide financial support for industry upgrades, according to the post. HSBC did not respond immediately to ... ( read original story ...)
Deutsche Bank, UBS hit as bank fears spark stress signals
SHANGHAI (Reuters) -Chinese food delivery giant Meituan posted a bigger-than-expected 21.4% rise in quarterly revenue on Friday as it fended off competition... LONDON (Reuters) -Deutsche Bank shares ... ( read original story ...)
Markets Today: Stock Indexes Slump on Banking Sector Woes
The Euro Stoxx 50 today is down -2.36%. China’s Shanghai Composite stock index closed down -0.64% and Japan’s Nikkei Stock Index closed down -0.13%. The Euro Stoxx 50 index today is sharply lower. ( read original story ...)
PBOC Shanghai Headquarters: RMB Loans in the Yangtze River Delta Region Increased by 603.9 Billion in Feb
According to data released on the Shanghai headquarters website of the central bank, in February 2023, RMB loans in the Yangtze River Delta region increased by 603.9 billion yuan, while foreign ... ( read original story ...)