After the failure of Silicon Valley Bank, the UK branch was sold to HSBC for £1. Following the closure of the second US bank, the Signature Bank, the Fed makes “additional funding” available
European stock markets begin the week below parity after tensions triggered by the collapse of Silicon Valley Bank, with the Fed which could thus limit the increase in interest rates. In Milan the after -1.03%, it of Frankfurt to -1.18%, the of Paris at -0.72%, the of Madrid to -0.78% and the of London at -0.41%. The Tokyo Stock Exchange closed the session in sharp decline (-1.1%), with attention returning to the bankruptcy of the two US banks, Silicon Valley Bank and Signature Bank of New York.
MORE ACCOMMODATING FED?
Fed Funds futures now consider a squeeze of suns virtually certain 25 basis points at the March summit, but the possibility that the US central bank decides to keep rates at today’s level is also not entirely excluded, while an increase in 50 basis points. The UK branch of Silicon Valley Bank Uk it was sold to HSBC for £1. The announcement comes from the British government. The Fed has decided to make “additional funding” available to banks to help them ensure they can meet the needs of all their depositors…
** This article was written by FinanciaLounge