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CNBC Daily Open: Credit Suisse brings the banking crisis to Europe - TL;DR CNBC

CNBC Daily Open: Credit Suisse brings the banking crisis to Europe

Publishing timestamp: 2023-03-16 06:20:48


Summary

The banking crisis that began with Silicon Valley Bank's collapse has spread to Europe, with Credit Suisse borrowing up to $53.68 billion from the Swiss National Bank to shore up its liquidity. The crisis has also affected US banks, with regional banks and large banks experiencing declines in their shares. The situation could lead to a slowdown in lending and capital investment, potentially causing a recession. The Federal Reserve may hold the line at its next meeting due to the renewed volatility in the banking sector and drop in wholesale prices and retail sales.


Sentiment: NEGATIVE

Tickers: BNP-FRJPM.BBKAGSCSG.N-CHGLE-FRPACWCFRC

Keywords: bnp paribas sabanksdeutsche bank aggoldman sachs group incbusiness newsmarketsinterest ratespacwest bancorpcredit suisse group agworld marketscitigroup inceconomic eventsjpmorgan chase & cofirst republic banksociete generale sa

Source: https://www.cnbc.com/2023/03/16/stock-markets-credit-suisse-brings-the-banking-crisis-to-europe.html


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