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View all search resultsUBS on Monday said it had completed its emergency takeover of embattled local rival Credit Suisse, creating a giant Swiss bank with a balance sheet of US$1.6 trillion and greater muscle in wealth management.
US regulators are preparing to tighten rules for large banks, which could raise their capital requirements by 20 percent on average, the Wall Street Journal (WSJ) reported on Monday, to boost the financial system's resilience after a spate of midsize bank failures this year.
A $30 billion lifeline for First Republic Bank hosed down market fears about an imminent banking collapse on Friday, but a late tumble in the troubled US lender's shares showed investors were still worried about cracks in the sector.
US authorities unveiled sweeping measures Sunday to rescue depositors' money in full from failed Silicon Valley Bank and to promise other institutions help in meeting customers' needs, as they announced a second tech-friendly bank had been closed by regulators.
Banks in Indonesia and other countries of the region stand to gain from a stronger macroeconomic outlook, while European lenders face much bleaker prospects, according to McKinsey & Company, but emerging markets as a whole are no longer what they used to be.
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