is the national bank, i specially checked for more than six years how it did not withdraw banks from the market with the wording for systematic violation of the prevention of legalization and laundering of income obtained through criminal means uh, what happened in the bank, we can find out from the documents that were released, actually this is an echo of the scandal that was launched by people's deputy zheleznyak a few weeks ago and which is related to with the e-e gaming business namely, the concealment of e-e bazaar revenues from azar pod ihor and , accordingly, from taxation and, in principle, these revenues that players through e-e terminals paid for the benefit of various companies engaged in gambling, they disguised themselves as a bank, so the regulator believes conducts a case with seven companies that, according to documents, were engaged in e-sports , that is, computer games not related to e-e, with lotteries and gambling games, but in fact, in this way, they simply covered up this bare activity and helped accordingly for companies to avoid paying taxes and, in principle,

banks. this is like a national jewel. oliver: of course. , this is a globally, systemically important bank. this we know, which is why we see the fear rip across the market but it's a critical bank for switzerland, zÜrich. they have retail banking, commercial banking. it's part of the lifeblood of the economy. speaking to people walking by the street, what they make of this, one person i spoke to, a lot of head nodding and kind of dismay, saying just sad for the employees. there's a joke apparently going around that you can go get a coffee for three credit suisse shares. on the others of that, we spoke to somebody else who said allegedly he bought 50,000 shares of credit suisse yesterday on the bet that these. shares would come back up if that's true, he's made a fairly decent profit this morning. francine: yes, because the share price just open some 40% higher. credit suisse, 2.38. great work on the ground, very close to where you have credit suisse and ubs close by. staying on our top story, the world's biggest banks racing to shield their

detail with viktor kozyuk doctors of economic sciences professor member of the council of the national bankukraine good evening mr. viktor, the program is more than 15 billion dollars and is designed for four years. interest this is how i understand the payment - to pay back in installments - this is a credit program, what are the details of this extended financing program and what should ukraine give in return? good day, cooperation with international creditors, cooperation with international donors is currently fundamentally important in order for the economy in ukraine during the war to be supported and, accordingly , to create framework conditions for maintaining macro -financial stability. this is a significant amount, and the national bank of ukraine spent about 25 billion us dollars to support the hryvnia , an amount that indicates that without international support last year, the national bank ukraine could potentially lose almost all of its foreign exchange reserves. therefore, this once again indicates that cooperation with international partners is extremely important for us . as

, which is now called sens bank this week e.e. the national bank of ukraine made several decisions regarding e.e. the bank itself, an interesting decision regarding the integrity of the integrity of its shareholders, it is possible , mr. yevhen. how can a former employee of the national bank of ukraine explain the actions of the regulator in this regard? as far as i know, the largest private bank in ukraine today. belongs to the group of foreign banks banks with foreign capital what is this a what happened happened that the national bank used its authority, which is fixed in article 73 of the law on banks and banking activities and deprived the shareholders alpha bank has the right to vote, that is, the right to make some decisions, the right to participate in the general meeting of shareholders , that is, by and large, it deprived the shareholders of the right to operate banks, this does not mean that no one will manage the bank, this means that the national bank will then appoint a trustee who has a positive business record. reputation and this trust in a person on beha

violations national bank surovy, but this is the national bank, i specifically checked for more thanix years why it did not withdraw banks from the market with the formulation for systematic violation of countermeasures against legalization and laundering of income obtained by crime. what was in the bank? we can find out from the documents that have been made public. this is actually an echo of the scandal that people's deputy zheliznyak launched a few weeks ago and which is related to the gambling business. namely, concealment . of gambling income and, accordingly, from taxation, and in principle , these are the incomes that players paid through the terminals for the benefit of various gambling companies, they were disguised as a bank, the regulator believes that he leads the case with seven companies that, according to the documents, were engaged in e-sports, that is, computer games not related to lotteries and gambling, but in fact simply covered up this gambling activity and, accordingly, helped companies to avoid paying taxes and, in principle , to carry out their activities, th

now, the pronouncement pronouncement by the swiss national bank to support credit suisse, is going to pair some losses. however, we have seen some damage here in the united states. the s s p has dropped a point 7 percent. now really, the banks are the ones that have hot hit, the hardest goldman city group. sliding regional bank certainly sliding. but what we're looking at is investors panicking, looking around at the financial sector at s b, b at signature bank at credit suisse and saying this is incredibly unstable or pulling out their money and trying to find investments that will pair their losses . now we were just speaking about the difficult situation that central banks find themselves and right now that you see be especially because of the interest rate. hi, tamara, how might the fed react to this volatile economy? well, the fed has 2 objectives, right? it's to insure a financial stability in the economy and to tame inflation. now the ladder of which it has been doing from unprecedented rate hikes here in the united states and it does appear to be bringing down inflation. howev

and i think the 1st national bank and this was government fully aware of that. and want to make sure that this doesn't go any further. now this is all happening, of course, in the context of 2 bank collapses that we've seen happening in the us this past week. and how far is this related to what happened to the s b b? for example? what i didn't have any direct connection to criticism as b. b, i didn't credit suisse for the big exposure to silicon valley bank at all. i don't think this was bank had large deposits with b, so it's not a direct connection. but i think what's happening overall is that we're seeing a, an environment. we've had a very, very low interest rates for very extended period of time. and that's true in the u . s. and it's true in europe as well in switzerland bit less the the s and b is bit a bit more careful in terms of the management of the source currency. but overall we seen very, very low interest rates for a long time. and now suddenly we've seen interest rates rise very quickly, particularly in the u. s. and that is gonna break some thing

how is this not what the national bank hopes for with our banks? it's clear, but it's not clear what 's happening with banks in developed countries. and talked about american banks are connected to california and to startups , and this week a crisis is developing with swiss banks, in particular with a large swiss bank, credit suisse. it should merge with another bank, what is happening. is this already some kind of global banking crisis called do we need to be afraid of some kind of cooling, well, listen. we live in a very unusual time and the changes that we have had to see in our lives are simply tectonic , they are also in geopolitics some things that we could never imagine in the world, as well as in economy well, all my life, swiss banks have been synonymous with maximum confidence, reliability, and now that we see it. the second largest bank in switzerland, which has more than a century of history there, is essentially ceasing its existence. there were a lot of problems in this bank, and... e scandals e-e are not unsuccessful in unsuccessful

and not -- and for sure, the swiss national bank cannot afford it to go down for them. right now people are nervous and we see people thinking that there are some things that clearly have been mismanaged because it is like 101 and running a bank, and iran want too. we are never going out the yield curve with short-term deposits. it is crazy, right. and trying to do it bullet train is coming and people are trying to get away. haslinda: are you trying to limit the exposure of a counterparty risk? >> we have no exposure to any one of these, so that is good, but i think really come the big question is this another lehman brothers moment or not? again, i think warren buffett cited very well at some point, when the tide goes out, you can see who wears swim trunks. clearly some people did not wear swim trunks. i think there will be a flight to safety, and also there is going to be more transparency in this because if you don't manage the balance sheet well, managed the bank will come it will be a matter of time before you see trouble we had an extension of credit and qe and ne

accordingly, in these conditions, the national bank and the national bank are under pressure to reduce on the other hand a large amount of hryvnias accumulated in the accounts of individuals, which they do not spend, because they will save it somewhere for black day . there are large expenses. current accounts have accumulated in the national bank and this is a risk because people's behavior may change, they will begin to spend these funds faster on some household items, they may decide to buy a dollar with these funds, well, behavior may change and the national bank wants to stimulate banks to raise rates for deposits in order to offer them attractive conditions for customers and thus direct these funds to deposits for some time so that they are not spent in large amounts in a short period of time and accordingly they found such a solution, which may not be optimal, but still they decided on it when the insert was formally kept unchanged for banks in the regulation, it is even bigger, somewhere they twisted it, strengthened it and gave it a weakened one if banks offer deposits for a p

yes , it is clear that these funds are preferable, more questions are why the national bank is taking, which enables us today to reliably maintain the financial defense of our state. for us, defense and finance are the only things we received. i would also compare them to the weapons we received. these funds. look, if you imagine our budget as 100% as a whole, then 50% is spent on the army, on the military-industrial complex, on the salary of the military there, for example, and the other 50% is international financial aid, which finances other sectors of our state, including the remote sector, and made pensions there for budget workers in our e. well, it is clear that the reimbursements, that is, the programs that we have today, that is, they are also needed for that, and look at this, it is all such a puzzle. i would say that it is difficult to even single out which is the most important, which is the key, all this is going on, it will have a positive effect for a long time, the hryvnia will hold like this, what are your forecasts? well, again, these are forecasts , don't you rememb

we already know that the national bank has already removed the most active bank from the market that implemented this scheme . thus, it is simple, judging by the punishment for those payment evasion schemes taxes used by the gambling business for the last year, and that is, it is not so much a matter of relations with russia, because parimatch says that they do not have any relations with russia , because the money simply passed the budget and was taken out of the country, as far as i understand it , nothing i do not confirm because i am not an investigator myself and did not investigate these things in detail . let's talk about these banks. i understand that you meant ibox bank, which was liquidated by the decision of the national bank of ukraine, and the wording was as follows a systematic violation of the rules, i may be wrong about the wording here, but regarding transparency and financial operations , another bank, forward, which has russian roots, was also withdrawn from the market. is it correct? i understand that there are different reasons for the liquidation of these banks

futures climbed after credit suisse taps the swiss national bank for funds and looks to buy back debt. treasury yields rise. plus it is ecb day. the recent banking chaos drove the rate hike down, but with the snb rescue, markets are on the fence on predicting a half-point hike from christine lagarde. in an attempt to stymie a crisis of confidence, credit suisse is set to borrow up to 15 billion francs from the swiss national bank. they have also promised to repurchase debt, can a buyback of up to 3 billion francs of dollar and euro denominated debt. the crisis has sent shockwaves across the global financial system with banks and traders looking to cut counterparty risk. then humans -- ben emons says credit suisse for now is on life support. shares are in full force after the saudi national bank chairman made these comments to bloomberg. >> the answer is absolutely not for many reasons outside the simplest reason, which is regulatory and statutory. we know nine point -- we own 9.8% of the bank. if we own more than 10%, more regulations would kick in rather by the dubai, swiss, or europ

and if the saudi national bank chairman said, we have full faith and the leadership at credit suisse. does that make a difference? jan-patrick: absolutely not. we have a totally different situation. i understand the regulators not commenting. i believe whatever they say, unless it is a drastic measure, the market would not care. what we are doing when here is within banking stocks and noble commodity dislike, we are doing a repositioning pretty hard and pretty setting. everybody felt so comfortable in this inflation pressures coming down. we are good, soft landing, everything is fine. that was praised the last three to four months in equity markets. there was good reason to do so. this whole scenario is not out the window and you have to been

it's on the site poor countries at the national bank poor countries.t. yes, this is it. and vacancies on that's who they need? here , respectively, how ukraine actually lives. and you are fighting there, you are natives, you are welcome, and by the way, the americans treat them like natives, uh, the cards issued playing playing cards for the ukrainian military, where they publish pictures with weapons that they send to ukraine well, so that the military in the trenches could not they didn’t mix it up by chance, they ’re watching some unfamiliar tank, but it seems to be american. yes, here now the pictures explain. when will you play durak there? look whose tank do you know? well, i think something that they will soon have instructions for the operation of these tanks to control these types of weapons in comics to draw something like this attitude towards ukraine

billion swiss franc lifeline from the swiss central bank after slumming to a record low the saudi national bank said it would not provide further a assi assistance finma said the lender met capital and liquidity requirements credit suisse is the first global bank given an emergency lifeline since the 2008 financial crisis a couple more lines this morning. a note talking about this new loan facility from the central bank saying it improves the liquidity coverage this is liquid flows over 197% from 150%. the caveat is assuming the outflows are the same as the final quarter of last year a big question mark and that is what investors are looking at and the events over last number of days for the bank and if it is still stable at this point. we see credit suisse to buy debt on the market and concentration of risk with the re-pricing of the debt side and how much credit situuisse was having to . there was a tender offer of euro denominated note due in 2023 and 2024 the rest of the european banks from what we heard from regulators are bouncing. 4.5% on deutsche bank. it was the german bank hard hit. a

francine: the chairman of saudi national bank ahmad al khudairy has resigned. this is after he gave an incredible interview to yousef about 10 days ago which was one of the starts of the background on -- the bank run on credit squeeze. yousef: a dramatic set of events but not a surprise given the criticism he faced domestically on social media and questions asked more broadly. the saudi arabia sovereign wealth fund is a 37% stakeholder in saudi national bank so you can imagine the discussions that are happening behind the scenes. here is what started all of this. take a listen. >> absolutely not. for many reasons. outside the simplest reason which is regulatory and statuary. we now own 9.8% of the bank. if we go above 10%, all kinds of new rules kick in whether it be by our regulator or the european regulator of the swiss regulator. we are not inclined to get into a new regulatory regime. yousef: unequivocal comments there in terms of a lack of interest to further inject additional capital and credit suisse. this was as much as it was a valuation opportunity, it

and i think was 1st national bank and this was government fully aware of that. and want to make sure that this doesn't go any further. now this is all happening, of course, in the context of 2 bank collapses that we've seen happening in the us this past week. and how far is this related to what happened to the s v b? for example? i didn't have any direct connection with the credit suisse in sep, other than credit suisse, had a big exposure to silicon valley bank at all. i don't think the source bank had large deposits with as we be, so it's not a direct connection. but i think what's happening overall is that we're seeing a, an environment we've had a very, very low interest rates for very extended period of time. and that's true in the u . s. in esther in europe as well in switzerland bit less the the s and b has been a bit more careful. thompson's management of this was currency, but over was in very, very low interest rates for a long time. and now suddenly we've seen interest rates rise very quickly, particularly in the u. s. and that is going to break some t

the selloff yesterday of credit suisse brought on the comments from the saudi national bank chairman he said he was surprised by the fallout and called the markets skittish >> if you look at how the entire banking sector dropped, i think, unfortunately, people were looking for excuses to, you know, it is panic. a little bit of panic. i believe completely unwarranted for credit suisse or the entire market we did have a failure last week. that's nowhere -- nothing to do with 2008. this is an isolated incident regulators cut off the contagion and any possibility of spillover. >> for more on this, i'm excited to bring him back. chief economist and chair of the risk council simon, thank you for waking up early again to talk about what is happening here. is this a one-off event as you heard or is there more going on here >> oh, a lot more going on, andrew i think this concern about what is on the asset side of the bank balance sheet and hold to maturity category which is how silicon valley bank got in trouble. there is plenty of hold to maturity on the european banks >> when you look at the

we heard from the saudi bank national chairman -- saudi bank chairman.hareholder, they said there were many other reasons as well. outside the simplest reason, which is regulatory. 1.80 on credit suisse. talked briefly about futures taking some pain in america. given the moves we have seen over the last week that is not a monster move, is it? the two-year bond in america has traded like a penny stock over the last week. it is down 22 basis points. tom: pink sheets. jonathan: very close to 3.99. tom: we are watching american oil near a 69 handle. i want to bring us an update on that 10 minute intervals on credit suisse. up to one comfortable moving average, and now is when we see a retest at 1.80. do we go back down and look at 1.68 or get to a better place? jonathan: deeply uncomfortable for that company this money. the moves in the bond market, we are pricing in rate cuts, not just in america, but europe too. looking at germany the two year yield is lower this morning. christine lagarde has the unenviable task of working through these issues that are se

should we wait for new e-e any messages from the national bank about new fines or about the withdrawal of new financial institutions from the market , yes, actually, from the information bodies , 6 system banks took part in this story. episodically made such payments in relation to large systems of constituent banks such as ukrgasbank, it is clear that they have a large micro-operating business and retail business, therefore, well, they will rather use such influence measures as a fine, and in addition, we see that ukrgasbank too already there he himself confirmed in his release that he was mistaken, they will take measures against smaller banks, for which probably one of the main goals was in combat schemes. especially during the war. well, because for them , financial stability is a priority, so i think that there will still be measures, there will also be inspections regarding their own high-profile people who have been deprived of their licenses. well, we'll see what else needs to be changed on this market in order for it to exist in a civilized way like in europe there is also a g

of credits is lost almost a 3rd of its value on wednesday, after its biggest shareholder saudi national bank said it wouldn't be investing in the company any more. it was the topic of today in all major newspapers. credit suisse was the 1st big global bank to take it after the collapse of silicon valley bank and signature bank in the us weakened by scandals. the institution had already lost much of its value in the last year. this week when, so the national bank said it wouldn't provide more capital than its current 10 percent stake credits with stock tanked. to avert the risk of a collapse. the swiss national bank quickly opened the $54000000000.00 lifeline to ensure credit suisse liquidity and com. the markets injecting some liquidity is the usual thing that's been done. and my guess is that if he, if they can turn around the business model, that they should be fine in the future. in a further attempt to restore confidence in the banking system. swiss authorities said that credit suisse met all the requirements of systemically important banks. the current measures proved effective to secur

credit suisse is up in the premarket after the swiss national bank aannounced $54 billion in support r the troubled lender. stock right now up 5 and-a-half percent. regional banks, first republic, western a alliance andpack west bancorp mixed this morning after hitting new lows yesterday. we're looking at efforts to recover this morning. the broader market meanwhile is mixed. take a look at futures, a decline at the start of trading for the dow industrials, down 68, the s&p lower by 6 points, nasdaq is higher right now by 21. the broader markets right now tracking mixed. this after stocks closed mixed yesterday, investors rattled by contagion fears after collapses of silicon valley, signature bank and credit suisse's stabilization worries. the dow industrials were down 280, s&p down 27, nasdaq higher by 5 points. rates have been plummeting this week ahead of the federal reserve's meeting on tuesday of next week. take a look at where we stand with the two year yield right now up 12 and-a-half basis points, sitting above 4% right now. the 10 year is up 4 and a quarter basis points at a

this on news it may borrow up to 50 billion swiss francs from the national bank. has more this afternoon there, this morning here jeff >> yeah. very good afternoon or good morning to you which ever you want to choose. i wanted to pick up on what steve was saying the other interesting thing that christine lagarde may have pulled off here is stabilization around credit suisse we are off the highs of the session here, so the share price has traded down from that 40% open that we saw much earlier here in the morning in zurich, but when christine lagarde came out and pulled the button or pulled the trigger on the 50 basis points, there was a kind of what does she know we don't know that central bankers may have been discussing it seemed to me. while some of the other european banking stocks were lower, credit suisse actually got a little bit of a jump there as i say, it is trading down a little bit now, but still up firmly and what you've got to i think understand here about credit suisse is nobody said there was a capital crisis here for this bank 40.1% ratio at the e

what do we know about the support from the swiss national bank? sally: after a tough day, credit suisse saw people saw this talking about contagion and banks like bnp stopping talking credit stops. we saw that the snb, the swiss regular came out and said it would be ready to backstop liquidity for the bank if needed. it made a few points. it did not see direct contagion. as per liquidity capital ratios the bank was meeting those. it raises questions, whether the swiss are able to provide the kind of liquidity that credit suisse would need and whether this does have contagion effects for the board of european and banking system and beyond. haidi: the u.s. treasury has a reviewed exposure for banks. sally: that's right. we saw some of the big banks like j.p. morgan, bank of america and citigroup. they have been, over the past few months, reducing their exposure to credit suisse. they have also seen, as you would expect, increased inquiries from u.s. regulators about this exposure. they're extremely worried about the u.s. banking system at the moment.

measures here if you understand the national bank will introduce such a unique risk only if there is ortfolio in one or another bank based on a certain methodology, and then the owners of these banks will have a question if, for example, the bank's own capital will allow it to cover these risks, that is, the bank can reserve, for example uh, there are such risks, then there are no questions. if he cannot, then there will be questions to the owners of the bank, to the shareholders of the bank, so that they partially capitalize it. the situation is different, for example, that's why i just looked at the standards of the banking system before our broadcast, and i have to say that somewhere around 40 out of 60 five banks, and the capital adequacy standard, which just means such riskiness, is quite high, that is, in the good sense of the word because there are about 20 banks. today, it is close to the limit. well, i think that after determining the jump test, it will be more likely that a figure will be named , how many banks may be needed for capitalization, but it is, well, let's say it

national banks. office of the comptroller of the currency are saying they're keeping an eye on the situation, they are monitoring it. don't know how deep that monitoring goes, but if you look at the dow jones industrials, coming way off that 725-point deficit earlier odd. right now it's down 327. draw your eyes to the nasdaq, it's in the green now, up 6 points. nasdaq had been flirting with gains and losses but only in the last hour and a half, and now we see the nasdaq climbing, the s&p 500 is down 28 points. all of this this though, all of the gyrations have wall street's fear index gauge, the vix, moving all over the place. earlier it was catapulting skyward. it was up well above 30, but now it is below that at 25. and we've got it till up about 9% -- still up about 9%. as we look at the dow jones industrials, there are still those drags that we need to keep an eye on because they are money-centered banks. goldman and jpmorgan are pulling down the blue chips. we've got dow inc. down about 3.7%, jp

step in where it feels it's necessary to provide support within the eurozone just as the swiss national bank has done for credit suisse back to you. >> gutieoff cutmore, thank you y much. >>> sticking with financialses and the fall of silicon valley bank we have pippa stevens with more on that story. >> frank, this morning, san francisco based lender first republic bank is exploring strategic options, including a sale and efforts to shore up liquidity. this comes after ratings and fitch downgraded the bank to junk in the wake of the failure of silicon valley bank and signature. shares are trading at the lowest level in years after falling 20% yesterday. >>> regulators are setting a friday deadline for those looking forbids for silicon valley bank and signature. this will be the second attempt at selling svb after efforts failed last weekend. frank. >> thank you very much. >>> the crisis at credit suisse and stress for u.s. banks and wake of svb collapse is adding to the volatility. the vix trading at the height of 30 let's talk more about all of this with vance howard great to have you here

this is the first regulatory regulation of the national bank, which established more reserve requirements banks. this forced banks to buy government bonds. this forced banks to buy government bonds, but some banks needed more hryvnias in them. there were not enough hryvnias and they may have started selling dollars, this is one of the reasons, the second reason is the ukrainian boldness sorry for the russian word uh, ukrainian traditional opportunity to find schemes where they don't even exist, to find uh, a few months ago the national bank offered the possibility that you come with hryvnias to the children's bank account, they exchange them for a dollar account at the official rate and you have a deposit for three months. this was supposed to reduce the pressure on the cash market so that people do not run there and look for an opportunity to sell at any price price their game and it worked, but now creative ukrainians supplemented this scheme with one more step . as a result, they benefit from this difference, and for obvious reasons, cash began to push the hryvnia exchange rate to the

the idea that the swiss national bank would have to read some sort of takeover, that looks like somethingiving with the two banks but we will bring of the latest in the hours ahead. stick with us, this is bloomberg. ♪ ever better. it's when disruption hits your supply chain and ryder makes sure you're ever delivering with freight brokerage to transportation management, truckload capacity and dedicated trucks and drivers. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh jon: this is bloomberg markets. let's get back to the breaking news that ubs and credit suisse are set to be opposed to the idea of a forced combination as we track the developments. the rumor is sending ubs tied to the credit suisse risk profile and a preference to focus on its wealth, clients. sonali: ubs/credit suisse was a merger of dreams but at this moment, if ubs were to buy cre

that is why we saw the swiss national bank stepping in and say, here's the cash if you need it. to why interest rate rises are so problematic for banks because essentially what happens is that as interest rates rise, it makes bonds less attractive, and that is not normally an issue because you would get the money back when the bond matures at a later stage but what is happening now is they may have to sell those at a loss just to get the cash they need to give to depositors. so with interest rates rising and continuing to rise, that puts more pressure, like stretching an elastic band and seeing how far you can stretch it, so that is why there is no business but what we are seeing is a central bank, the european central bank, saying we have got our eye on it and we are ready to act, there is not an immediate problem, and our big focus is tackling inflation right now and thatis is tackling inflation right now and that is why we are rising interest rates to keep a lid on the rising prices —— that is why we are raising interest rates. prices -- that is why we are raising interest rat

and the you with the swiss national bank says it will ensure both banks have access to the necessary liquidity to underpin the deal. soon after the swiss announcement, the u. s. federal reserve, the european central bank and other major central banks came out with statements, assuring liquidity in the markets. on friday, the liquidity outflows and market volatility shows that it was no longer possible to restore the necessary confidence. and that the swift and stabilizing solution was absolutely necessary. and the solution is the takeover of credit histories by u. b. s. it is supported by the for the right on sil, following several meetings with the national bank. we've our regulator or the fin, not with credit stories, and you'll be as pretty about account. she welcomes the stakeholder and is supporting it by guaranteeing the framework conditions necessary for its success. a poor print and has been following developments from london. it's been a really tumultuous and frantic few days in the international banking sector pretty much, ever since weapons day when credit suisse was exten

look, the national bank of ukraine has already allowed the repatriation of income received from post-wards by foreigners, so far only income is not the body remains in ukraine for the time being, the actual body of loans, but the coupon interest on war bonds can already be withdrawn to foreign investors from ukraine. on the way to the maximum reduction and reduction of the number of currency restrictions that were introduced after february 24, 2022. well, mr. olezhe, we understand that the next stage of cooperation with the international monetary fund is a signal for other possibly interested financial institutions and organizations to invest in give ukraine a loan or help , what can we count on here? well, look , when we talk today about the amount that ukraine needs to restore the economy , the experts of the world bank talk about figures of more than four hundred billion dollars direct losses calculated in ukraine amount to direct losses of the order of 150 billion dollars , undoubtedly the ukrainian budget will not have such money in order to restore all this, therefore we will be ex

the swiss national bank and also the finance minister -- finance ministry. o ask ubs, can you buy this and fix it, or you find a solution for the swiss business. we understand both banks are against a new forest of measures and that is the status quo, so we will learn more from the weekend. the liquidity line over time, and the markets also knows it is difficult to bet against the swiss national bank. francine: certainly if the yield went back to top, people will not want to take them on. congratulations on all of your columns bid at this point you say it is faith and not fundamentals on credit suisse. how do you see this playing out? what options do they have? >> the acute phase has passed in the sense of a real feeling of imminent crisis due to the liquidity that has been added, and where we not -- and where we are now is how they restructure this bank, what it looks like going forward, and getting investors in the stock market and the debt markets to understand the story and be able to price it and move it properly so they can make a proper decision about

meanwhile, our good news the nbu national bank was recognized as the central bank of the year according to the version of central banking in words, they actually write that this prestigious award is presented every year by a profile magazine about the activities of central banks and financial regulators, and actually about how the national bank really managed to maintain stability during the year of the war, we will talk further, in particular, about the main budget indicators about inflation about increasing the budget about military expenditures about all this ilya neskhodovskyi will be in touch with us to talk. news yury makarov resigned as the chairman of the taras shevchenko national award committee of ukraine, so he thanked all his friends who over the past years donated their time and energy to support the award, and the reason for his resignation was this year's scandal surrounding the award, which was connected with the untimely announcement of its results, as well as with the desire to create an additional nomination , we remind you that the results of the award were tradition

national bank total individuals. almost $750 million was sold at the bank, with amounts being significantly operated by business entities, the total volume of foreign currency purchased by legal entities exceeded $2 billion, and now the situation on the foreign exchange market is based on the results of the latest trading. on the stock exchange , the russian ruble rose in price, dollars and the chinese yuan fell in price. so the american currency costs 2 rubles. 83 kop. euro at the rate of the national bank 3 rubles. 2 kop. for 10 yuan. they ask for 4 rubles. 9 kop. and for 100 russian 3.76. geely cars again became the leader in sales in belarus in february it was sold over 650 cars for comparison of all new cars sold almost 1.000. now 10 car brands are represented on the belarusian market already in the third quarter, this list can be replenished, new brands are expected to arrive, the belarusian automobile association predicts, as for the domestic manufacturer, the name plans to produce about 30,000 crossovers and

so he wanted to borrow 50 million in gold and bank said there is no national currency because there's no there's no single u.s. dollar. there's there there are notes from banks in pennsylvania, in gettysburg, in philadelphia, and pittsburgh, in cincinnati, ohio, in new york. but there's no one currency but each bank has its note. and the bank said to to salmon chase. we've got a much idea. why don't we just finance it with our notes we can leave the in our treasury and that will serve as a reserve and we can keep lending it in a sort of a multiplier effect the way the way central banks do with reserves. salmon chase is really a stickler for old fashioned jacksonian economics. he wanted the gold. he said, i need that 50 million. so with great difficulty for the banks, agreed with great reluctance, but they felt it was their patriotic duty. they raised money and there was a celebratory dinner at willard hotel. i think there's a bob willard in the audience. and he was his. it was his. it was his family that hosted that dinner. and john, the president of the of the commerce bank in new yo

touch with me, sent all her active letters and started talking to me, as a representative of the national banke republic of belarus , having all my passport data , it was said that a new loan had not yet been assured by the national bank, so he can be paused and restored. i can only be an employee of him while the frunzensky district department of internal affairs conducted an inspection, the investigators opened a criminal case. on the fact of the theft of property by modifying computer information, the police resemble bank employees or law enforcement officers. never call in the messenger to obtain personal information or your details, do not install programs for remote access and do not follow the links sent. and one more victim of cyber ​​deception was a pensioner from gomel, she also believed that she was talking a sixty-two-year-old woman was persuaded by bank employees to issue three loans in her name, then all this money, which is 29,000 rubles. transfer to the account of intruders a criminal case has been initiated on this fact. the competition in the world gymnastics has become very

and i understand this purely as the national bank's fears that something might happen, but as we canperiod. when this decision was made, enough months have passed and nothing terrible has happened. therefore , this is just - in my opinion , the national bank's fears are too great and we must somehow return to publishing was something can happen let's talk about what can happen considering that the state sector of our economy is currently more than 50%, that is, it is always after a full-scale invasion, it is always the share of the state

the lender has appealed to the swiss national bank for a public show of support. concerns of been growing about banks, liquidity on both sides of the atlantic, following the collapse of silicon valley bank in the us. almost a week ago, more i'm joined now by william chit and didn't. he's the associate professor at the mccoy college of business administration at texas. state university professor, it's good to see you again. yeah, we, you know, we're meeting up now on 48 hour interval and it looks like there is something that feels like contagion that has crossed the atlantic. how do you see? i'm not sure this is really contagion. but it is definitely highlighting the, the issues that, for example, credit suisse has had, not just recently, but for years. and so it, i think it's just allowed folks to pause to take a good look at some banks that have had trouble for a while. and unfortunately, this is another very large bank in europe that's been having trouble actually for a while. so it's not as if this is caused by what happened in the u. s. in terms of the failure

behind that is $100 billion liquidity from the swiss national bank to make sure that all the problem dit suisse don't make ubs, which will now be the last big bank standing in switzerland, which it won't have too many problems itself by going ahead with this takeover. now, we are the swiss president when he said it was very important for the economy and his citizens. just about every swiss company has an account, has its investment in either one of these banks in addition to credit suisse being a globally important bank. any further turmoil would've caused more knock—on effects for the global financial sector, and of course, that was a huge worry. everyone around the world has been watching these discussions today.— around the world has been watching these discussions today. imogen, can ou talk to these discussions today. imogen, can you talk to us — these discussions today. imogen, can you talk to us a _ these discussions today. imogen, can you talk to us a little _ these discussions today. imogen, can you talk to us a little bit _ these discussions today. imogen, can you talk to us

i think that this information has already become public when the national bank applied a fine of uah million - this is the state bank ukrgasbank . sanctions will also be applied to other banks, one way or another, maybe not. only fines, well, nine banks accepted, again, not all of them have a lot of participation, maybe not all of them even at the management level, but again, the scheme is big enough, we are still monitoring it, a huge number of financial companies, i will tell you honestly, i am there when i came to the parliament, the first bill he proposed to me was to close the playgrounds, there is a center, er, i never thought that, as part of the investigation, i would find something bigger and more disgusting than these playgrounds. well, as it turned out , a lot of this happened, and unfortunately, it happened during the war mr. yaroslav, the fact that the national center for operational-technical management of tele-comm networks has blocked these illegal websites means that we should not have accessed them now, we would not have been able to access them well, yes , this mea

but also the very fact that one of the investors, saudi national bank, who invested in the bank whenised capital late last year, said it couldn't invest any more in the bank because of dilatory concerns -- regulatory concerns. that led to a wreath that there wasn't an easy exit from the situation credit suisse found itself in. we are hearing out that negotiations are taking place to come up with some form of reassurance to stop exit as of apposite -- the exodus of deposits from the bank. kasia: a lot has been talked about the interest rates being hiked. help us understand the link with higher interest rates with what we are seeing now with these banks. >> when interest rates hike very quickly, that affects the value of bond holdings. they drop -- the value of bonds drop as a result. what hpened is that these banks including silicon valley bank/bought a lot of these bonds hoping to get a higher return over a longer periodf time. effectively used deposits that its customers put into the bank to get this return. when interest rates spiked, and meant bond holdings were worth a lot less,

that was the router where the saudi national bank's comments came from, the idea that they have regulatory caps, not strategy necessarily. that sparks what we have been seeing, the confidence everyone has been seeing about with the banking and the crisis of confidence and how fast money moves in this era is of great concern. now you have the treasury department asking to consider the exposure here what kind of risks are tied to credit squeeze with the financial system more broadly. we are now talking about a global financial institution that is seen some severe stresses in the market. kriti: which brings us to the question of contagion. it feels like when the news broke, credit suisse has been struggling a while, therefore, it is an isolated story, but credit suisse works with lots of other banks. where are the cracks to pay attention to? sonali: there have been cracks forming for months and we are reaching breaking points in the market that are starting to exasperate the pains felt by the banking system, by the regulators, and clients. this is the tightening on financial standards, tighte

the euro exchange rate at the national bank is 3 rubles. 10 kop. they give 4 rubles. 16 kop. and for 100 russian 3.72 belarusian enterprises beloretsbumprom. exports increased last year. in the sverdlovsk region of russia, 1.7 times as reported at the end of the positive dynamics is observed this year in january. the rate of simple external deliveries is 180%. in the russian market , our furniture, paper, cardboard and wallpaper are most in demand. fresh statistics of the national bank, the regulator, following the results of last year, records an increase in the number of counterfeit money in belarus, more than 84% of the counterfeit euros and russian currency in circulation, as for the belarusian ruble, last year revealed such 12 pieces, the most popular the face value of counterfeit banknotes is 50 rubles. and finally. china brazil have entered into an agreement on trade in yuan and plans to expand cooperation, according to the ministry of commerce of china, the country intends to russia vza.