By Nicole Goodkind and Krystal Hur, CNN
Global banks just suffered their worst week since 2008. So what comes next?
The fallout from this month’s banking turmoil — the surprising bank runs and collapses of Silicon Valley Bank and Signature Bank — has been widespread. In its wake, the global banking system has been shaken.
More volatility is in store for the week ahead. But that doesn’t mean this is a repeat of the global financial crisis from 15 years ago. Everyday customers’ deposits are guaranteed and regulators across the globe say the banking system remains healthy.
Credit Suisse and First Republic: Two more banks wobbled but remained upright through the week. Beleaguered megabank Credit Suisse announced last week that it will take up to $53.7 billion in support offered by the Swiss central bank to stay afloat. Meanwhile, First Republic bank received a $30 billion lifeline on Thursday from some of the largest banks in the United States.
Still, those lifelines might not be enough…
Read Full Story: https://news.google.com/rss/articles/CBMiSGh0dHBzOi8vd3d3LndlbnkuY29tL3N0b3J5LzQ4NTcyMTc2L2JhbmtzLWhhZC1hLW1lbHRkb3duLXdoYXQtY29tZXMtbmV4dNIBAA?oc=5