network, the inference of the banking network , the commercial bank's atm, and the decision-makinghasnah bank, which is different from the equity of qarz al-hasnah, that is, we have a series of problems in qarz al-hasnah, mehr iran. there are ten state-owned banks, it is for the capital and the annual profit that the bank makes, a balance in front of his mother by paying loan facilities to our own employees in qarz al-hasna bank, not from the people's deposits , from the shareholders' rights, the bank's shareholders, so the people's resources roma facilities to our colleagues we give the first point, the second point, qarz al-hasna facility is paid, now it is forbidden in the bank, summon the maria network to form a committee for islam , you will inform all colleagues about the case that exists in the banking network and there is no difference between the employees of qarz al-hasna bank and the network. we don't have a bank, there is an ambiguity in the public mind, so it is not from the people's resources . mohammadreza, it is not necessary to raise higher banners with high medita

, e.e., the national bank of surovy, but this 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 compa

>> supervisors looking at the bank identify the problem with the bank. did they identify them with enough level of urgency to the escalade appropriately it's an incredibly fair question i expect we will find will have more of an emphasis of supervising using the tools we have and putting it in place more promptly when they see problems at banks there supervising. >> of a number of mri. he didn't do anything other than write a letter. did not seemed like there is any enforcement, where is the stick? >> has exactly the right question. normally the supervisory process when the issue in mra or mr aa the bank promptly takes care of those matters. in this case obviously did not take care of them in such a way that prevented the failure. >> it seems like they believe you guys often you did not do anything. that's what it seems like for reading all of this information. i share your concern very much. thanks responsibility but also should regulators to escalate more promptly and quickly that is a completely fair question. carmen, and your hearing before the senate

it is guaranteed for the next 12 months it may give some of the banks, the smaller banks which may be having trouble, time to get their acts together and get deals. >>> new this morning, hsbc is buying the us silicon valley bank for 1 pound the sale protects the deposits of the silicon valley bank uk clients. and first republic getting additional funding from the fed and jpmorgan $70 billion in liq. all weekend, lots of folks talking if the company would get taken over bankers hired and lots of people looking at the bank. we will keep our eyes on this bank for some time having said that, between this investment firm jpmorgan chase and the backstop from the fed, the hope is that money does not move to prevent a run on that bank president biden is set to speak about the banking system at 8:00 we will have the comments live. >>> we have covered every angle of the story with reporters working the phones from coast to coast o coast. we first get to the market reaction u.s. equities. s&p up 2 points. nasdaq up 62 dow has turned negative. right now, dow futures indicated downthe -- down 80 p

and smaller banks. the for a long time was these small banks, if they went down, it would not have much of an impact, but we have seen in the u.s. with silicon valley bank and here in europe with the cascade, these banks, while they are not globally systemic, they might have particular importance in one region or industry, so you might see more regulation of those smaller firms. francine: and credit suisse's concern was that it was so embedded. this started on thursday morning after we spoke to the saudi national bank chairman, and this is what pete told yousef gamal el-din about raising capital. >> absolutely not. for many reasons outside the simplest region -- reason which is regulatory and statutory. we are 9.8% of the bank. if we go above 10%, all new rules kick in whether it be the european regulator or the swiss regulator, and we are not inclined to get into a new regulatory regime. francine: this was actually wednesday, and he spoke at another meeting on thursday, saying that the panic was unwarrante

they created the largest and fastest bank run in history in the following days signature bank lost 17 billion dollars. regulators both republicans and democrats came to gather to prevent the panic from spreading. they increase liquidity, they promoted confidence in our banking system, they protected deposits of customers and small businesses not notably the investors -- the investments of executives and shareholders. i spent that weekend on the phone with ohio small businesses and banks and credit unions. while small business owners simply wanted to make payroll. they did not want to see years of hard work go down the drain because of venture capitalists panicking on twitter 2000 miles away. one woman told me she was terrified she would not be able to pay her workers next week and i heard that story over and over. ohio banks and credit union institutions -- institutions that are sound and well capitalized -- did not want to see deposits flee their institutions for the biggest wall street banks. for anyone who lived through the global financial crisis, it's impossible not to think of 2

the bank. so, and this is one i think a failure, the regulates the bank surveys. huge risk, short term liabilities which is deposits can taken out and i stay invested in so long term and things like mortgage backed securities, which are inflation sensitive. but then it didn't hedge against the, for the change in the inflation rights. and that's a basic, you know, banking, want to one mistake. if you're going to do that kind of, that you should hedge against it. so the fed has been raising raise the fast time for, i forget, i don't know, 20 years. i mean, it's really been going up quickly and it's made these, these assets be bank of bad, very fast. and that's something that the regulator should have picked up on and didn't. so people are pointing the finger there as well. but the moral has, it is an important point that you know, you're supposed to let the process or suffer lose their money, or at least the assets are in the bank and it could be recovered. but that would take time. it's not like

the other? -- idea of one bank buying the other? guest: i think you ideally want to be able to replace it with another bank. so i think it is ideal. what you want them to do is put the bank out for auction and they clean up the problem and then they put it up for auction with other banks. and hopefully they can sell it which gives the fdic a profit on the sale and that reduces its overall losses. and it brings the local communities and the competitor to replace the failed competitor. host: let's hear from rolen. roland in connecticut. republican then you are speaking with the former chair of the fdic. caller: thank you. good morning mr. isaac. we appreciate you going through turbulent times through the high inflation rates we had and also the first few years of reagan administration. but i do have a very deep concern that this was unprecedented. and i do not believe with having president biden state he was going to bail out fully the additional svb creditors. what i'm hoping is that doesn't set us up for a massive bank failure and ca

guy: is the banking sector defensive at the moment? meera: this is not the time to buy the dips in the financial sector because valuations have reset. if you are dipping your towing to the financial areas because they have pullback you better know what you're doing. active and thoughtful selection is important because there is a lot of uncertainty ahead. we want to be mindful, if we are in that area potentially in the u.s. large-cap, it tends to be higher quality. i would say there are other areas to consider outside of financials and banking, given where alix: as we go into next week and the fed. what do you think the fed will do after lagarde came out with the 50, it does seem to be "on the markets" to show support. it's going to be on what the markets do and the financial stability question. what are you doing to that meeting? >> the fed is taking it day by day and that's important considering the moves we have seen over the last couple days in reaction to each other and some of the developments happening. i think the fed would like

given the unprecedented scale of the bank run what would be the impact on small banks and businesses across the nation if you and other regulators had not taken action to protect depositors of svb and signature bank. >> that was our central concern. i think the evidence suggested from the sequential failures of first silicon valley and then signature that there was a significant risk of contagion to other institutions and in fact over that weekend we were seeing serious distress at other institutions. i think that and the potential knock on effects of that contagion is really would lead the federal reserve board and the fbi seaboard unanimously to recommend. >> you are saying the actions taken were the least bad option. thanks across the nation if you hadn't acted that way you think there would've been a contagion. >> i think we would've been in a worse situation today with consequences for the actors in our economic system. >> regulators, republicans and democrats across the board there was agreement on those actions paid under secretary do you agree with that? >> i do agree with tha

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 behalf of this person and 100% of the bank's shares already participates in shareholders' meetings, makes decisions and does all the operational activities that the bank needs that is, i would not say that we have become closer to nationalization and, in general , to be honest, i do not really support the fact that the national bank of tre -alpha bank should be nationalized,

average percentage of other banks, the name of other banks goes to a temperature higher than the window, but the lowest limit, dad, the number of facilities is very high. last year, we have 2,600,000 facilities this year. to nearly three million we come to the loan facility section, which is really a lot of numbers , and this is a sign of the trust and good faith of the dear people in the field of loan , they have a lot of trust , they work on us both on time and on time, so there is transparency and the regulatory bodies completely supervised our facility issues and in saderat bank, i want to use the price of foam, so it is not easy in commercial banks, and the positive thing that happened in the budget law this year and before, according to the directive of the minister of economy , all the banks had given they were obliged to give the names of their super debtors to hassan's big debtors this happened on the central bank's own orange, but as expected, when the bank sits in the glass room, the public monitoring did not happen. it is special for the people to see

s. banking system. it's not the whole us banking system, but particularly these regional banks that you've gotten in trouble. and also your that banks, including those in germany, are not in much better condition than credit suisse. which has, for a long time, been known to be. and a lot of difficulty. so i think it's a perfectly fine thing to say. but of course, with bank problem, if, if everybody loses confidence, then it, you know, there can be problems even in what appeared to be fundamentally reasonably stable and healthy institutions. and then the ultimately, what's driving the problem that we're seeing here on friday, it's just a lack of confidence. i think that that's the case because that have been problems elsewhere. invested nervous and worried that there might be other problems that pop up within the banking system. the known about now, and nobody has full visibility of everything that's going on in the various banks. and so that's causing some anxiety. there are other potential risks coming along the li

you can look at the topics bank. the safe haven bids for currencies remains in focus for us, this is a story we will delve into in more detail with our guest. currently gaining 0.5% for the japanese yen. the context is that it has been an incredible strong for the nasdaq. artist one-day gain since january. let's get across the latest on the banking terminal with russell, oliver. pressure remains on the bank. and under current will tell us what the ecb's moves could mean central banks were broadly. thanks have borrowed a combined 165 billion dollars from two fed backstop facilities in the past week. it is a sign of escalated funding strains. spring in asia finance editor, russell ward. thanks tapping the fed for funding, what does it tell us, the numbers took many people by surprise. the discount window tapped by these banks larger than what we saw during the financial crisis. exactly. russell: it is pretty overwhelming. despite all the steps taken this week, $153 billion tapped through the discount window, that is the

and they saw some opportunities in the bank. but i think with all that went away with respect to tax avoidance. ready and the panama papers, i think a large part of the business has gone away as that is that it's never going to return. and as you said, the company has a very well known franchise, but it certainly is fighting very harsh competition in, in other investment banks. so that's where the, the bank sees itself and find itself. all right, so a lot of nerves are rattled right now in the banking industry on both sides, both customers and bankers. people on both sides of this. obviously, credit suisse is a multi national organization, though they're getting an infusion from the swiss central bank. is that going to be enough to quell global fears about whether or not their deposits are safe in these dozens of countries that credit suisse operates out of? so i'm going to touch on one of the words that you use, which is fears. i think it quelled that the panic, but i don't think it as quelled the fears. and what i think the inf

the banks without collusion from the federal reserve and has chucked money to the banks the shorts will be hunting you multiply that and we have seriously large numbers as well. i hear what you are saying very much this could be a whack-a-mole situation credit suisse in europe and silicon valley bank. >> that is the uncertainty everything we see is a classic confidence crisis. a bank run no complex derivatives that we are talking about. no bad debt. no holes to fill this is the market has suddenly lost confidence. depositors particularly. depositors have lost confidence in the banks this is a question how do you restore the confidence it will take time so no one can push around the weak banks if the confidence comes back and you think about jobs if you are living paycheck to paycheck and you have a job, you can keep paying your bills there are some banks because how they managed their risk are close to a household living paycheck to paycheck >> it seems this took many by surprise the collapse of silicon valley bank and interest rate risk presid problem. it took the market overall, by st

this is quite an extraordinary situation with first republic bank in the us, where other banks, not the but other financial institutions have stepped in together to help shore it up, what do we read into that? you are looking — up, what do we read into that? you are looking at _ up, what do we read into that? you. are looking at the situation, you saw that hsbc in the uk took over svb's saw that hsbc in the uk took over svb�*s financials in the uk. there was an effort being made by regulators to try and find a buyer for svb in the united states, but they didn't find one. in this instance, we have already been hearing about janet yellen, the treasury secretary, who is picking up treasury secretary, who is picking up the phone and ringing round a bunch of bankers asking which ones would be willing to buy first republic. nobody stepped up to by the bank completely but they came up with the idea of getting together a consortium of ii with the idea of getting together a consortium of 11 banks to come in their mind, to shore up the confidence for investors in the banking system here in the un

on the bank. this speed and intensity of the run as we talked about the positives are by panic and social media platforms armed with online banking tools capable of rapidly moving large sums of money it withdrew nearly $42 billion in deposits within 24 hours on the ninth of march but second undersecretary at lane, you think social media online banking tools at the potential to increase intensity future runs? and if so would he think the appropriate response from treasure congress and regulate it should be? >> congressman i do agree the bonds that occurred at silicon valley were unprecedented speed and size aided by social media, technology. those are new risks that challenge the banking system and the financial system on will definitely need to be considering. and working with congress on those issues. >> so you are working on that? >> yes for working on how to think about the payment system and digital assets this is now been a parent's pic looks like to work with you on that if that's okay will f

the banking sector and focus. the decision to write those down to zero with significant impact across the banking sector and we will do a deep dive throughout the show. the ftse down 1%. down 6/10 of a percent. iron ore down 3.5%. goldman sachs working back there call you'll get $100 a barrel on oil before the end of the year. market starting to change their pricing, of rate hike coming through. that's the check on these markets. just a couple of minutes into your european open as we assess the impact of this significant and historic deal. francine has been on the ground following the twists and turns. francine: thank you so much. we have team coverage in zurich. manus cranny was holding the fort, i went to the press conference. they kept it quiet. there were the two chairman, the president of -- the finance minister in the regulator. we are lucky between us we did six years of german language. many questions not only for bondholders, not only for swiss banks in general but what happens if you have a swiss bank you

we don't want to forget the bank of england was one of the first central banks to increase rates backthe end of 2021. they had been doing that for 10 or 11 times consecutively and guess what? inflation is still higher than analysts were expecting. this is a great example for central bankers of what they are fear may become as soon as you think the fight against inflation is over, we might not be there yet. tom: there is that persistence around inflation, yet the yield curve suggests recession is imminent. parts of the labor market are looking softer around the edges, even in the u.s., and it has come down, it is persistent, that is the argument for cutting. you are not convinced, but there will be concern about policy mistakes in this environment particularly if you factor 1-2% tightening equivalent from the banking crisis, there is potential for a policy misstep. giulio: that is why central banks are so focused on the data coming in. the retail banks and commercial banks helping monetary tightening is part of the game to some extent. that is being raked in by central banks. the fact

of canada, the bank of japan, the swiss national bank, the european central bank used the availability line which allowed other countries to be paid dollar liquidity. that is the easiest way to explain it and is important in a time like this. they will now do daily operations instead of weekly operations. making sure that whoever needs to reach out to the fed and make sure they can fund their investments in yen or euros or dollars if they need to, they will have them again. there are trying to boost liquidity and confidence. that will potentially set them up to make a decision this week that is not so impacted by what we are going through in terms of banking crises and more based on inflation and the ability to bring it down. rishaad: kathleen hays, are global economics and policy editor. we also have bill augment in sydney and patrick winters in singapore. we have hsbc slumping by more than 5% in the session in hong kong, and that means these losses are the biggest ones we have seen since october 25 of last year. the price itself not being seen since the beginning of january, so this

, the banks, the aid committee, all eyes will go towards the banks, and definitely if we want our bank. we have to solve the continuation of the first of the year. the ministry of economy and the central bank. first, the capital increase of the central bank of the banks, the current capital market managers do not have the possibility and power to provide facilities. the increase is a serious issue to be resolved . there is justice for the equity of the equity to give up the bigotry of the stock , otherwise this issue should be returned to the economic cycle of 300 people. banks in the 5-10-year project, it is recommended that these plans be given to the development banks, the cooperative development bank, which we had since the revolution, but long-term projects, the dream of identifying the financial resources, the task heads , the task projects in the bazaar development bank money, money under one year, go back and forth to tehsehe cooperative bank and use it in the capital market , the point of bank facilities, sorry , the real production is done from the factorial tools that we use

we have the bank of england and the swiss national bank.h. this comes back to our question, do you by the dip or sell the rip? in order to answer that question, you've got to know what the essential banks are going to do next week. elaina, great to see you. the ecb delivered 50 basis points because it was worried if it didn't they would send a message about concern surrounding the financial system. you think jay powell will deliver the same story next week? >> i think the narrative will rhyme but it won't be identical. in the past weeks develop and's have shown a need, not just for banks but for policymakers to take a care for risk management approach. the ecb was careful with financial stability. the ecb counseled further rate hikes. it counseled the earlier guidance and made it conditional on one of the three conditions it stated. so, what we have seen in the last week is an enormous amount of volatility. not just in bank capital, not just in the u.s. or switzerland. also in government bond yields. the financial system might be sound but

to the u.s. banksthis is the frankfurt listing of how they may perform later on today it is a key area we are up 2.5% of the german listing of bank of america jpmorgan chase is higher goldman sachs is dragging down the broader dow in session on friday wells fargo is higher by .75%. let's look at the european banks. hsbc is stepping in buying silicon valley bank. it is showing us the right color this morning the rest are trading lower that is in contrast to the early indications that we see upbeat action deutsche bank is hard hit in germany on friday. down .60%. co commerz bank is down here. we are seeing the fears here and concerns if interest rates go up, what does that mean for the maturity profile for the european lenders we had a special tprogram announced in the united states to manage the bond portfolios. we don't have the same here from the central banks. perhaps some questions around what that could look like and reassessment after what has been a strong trade in banks, but still risk is coming

and signature bank. the steps we took were not focused on aiding specific banks or class of banks. our intervention was necessary to protect broader u.s. banking system. similar actions could be warranted of smaller institutions for deposit runs that pose the risk of contagion. host: that was the treasury secretary, what do you think of that? guest: i think there are several comments there that are notable and that is what we saw is that of contagion and it demonstrates the secretary's commitment to ensuring banks of all sizes would receive similar treatment in the event. i think it also demonstrates how it is important -- how important community banks are to the community. this is not just about size, it is about ensuring community banks who are systemically important to their local communities are protected and receive the same treatment that we saw here with these two failures. host: are they as protected as larger banks are by the federal government? guest: that's one of the things that we would see in t

and signature bank, but the idea of more bank regulation needed. you can call us in the 15 minutes or so if you want to give a comment. (202) 748-8000 free democrats -- for democrats. (202) 748-8001 for republicans. (202) 748-8002 for independents. text us at. --text us at (202) 748-8003. yesterday on emissivity was senator bill cassidy of louisiana who served on the finance committee and the joint economic committee. he took a look at the situation when it comes to regulations and focused on management of the banks involved. here are some of his comments. [video] >> how do we get back to this point? we are 13 years after 2008. did the regulators missed something with silicon valley bank and how it was working? >> the fall testily with management. management knew the investment strategy was ill-equipped. first it is management. crilly regulars have imagined that as well? absolutely. i'm told people selling stocks short, they sold the svb stock short and made $500 million. somebody out there knethe bank was bleeding to death. yes, the regulators did

for the banking industry and the impact on our economy? ur banking system is sound. americans canlee confint that their deposits will be there when they need them. >> americans can rest assured. >>> in public officials say there's nothing to see here. what's going on behind the scenes to shore up banking stability? we'll talk with the head of the house financial services committee, patrick mchenry, and industry critic senator elizabeth warren. former trump administration economic adviser gary cohn will be here and we'll talk to kara swisher and scott galloway about the stability of the sector as the head of tiktok prepares to testify before congress. >>> vladimir putin makes a bold trip to occupied ukraine following a tense week between the u.s. and russia, and ahead of a meeting with china's president xi. former trump national security adviser general h.r. mcmaster will join us for analysis. it's all just ahead on "face the nation." >>> good morning. welcome to "face the nation." >>> we had a sense of deja vu early saturday when former pre

barr, the solvent and immediate collapse of silicon valley bank demonstrates the vulnerability of banks and the broader system. yet, under our current rules most banks are not required to recognize this risk. will they fed rewrite this rule to require all banks to account for interest rate risk? >> you raise an absolute essential points. and when we are very carefully looking at. we anticipate engaging in a notice and comment rulemaking process on capitol rules with appropriate transitions. that is one of the areas i think of the important for us to consider in the rulemaking process. >> so, do you think the rules passed under as 2155 written by the trump administration need to be rewritten? >> we are going to look as part of our review not only are supervisory issues but also the regulatory structure put in place. the weather the sides we put in place all that is on the table. we are reviewing that i'll come back and provide an assessment of that on may 1. >> thank you. and mr. barr, the fed has been raising interest rates more rapidly than it has in decades in an effort to lower infla

and signature bank. the steps we took were not focused on meeting specific banks or classes of banks. our intervention was necessary to protect the broad u.s. banking system and similar actions could be warranted if smaller institutions suffered the classic runs that pose the risk of contagions. >> that was the treasury secretary. what do you think of that? >> i think there are several comments that are notable and that is what we saw was the sort of contagion commentary and withdraw funds and c it demonstrates the commitment to ensure banks of all sizes receive similar treatment in the event and it also demonstrates how important community banks are to their community. it isn't just about the size. it's about ensuring that the community banks that are systemically important to the communities are protected and receive the same treatment as we saww here. >> and are they protected like larger banks are in the federal government?? >> it's one of those things we would see when the community bank is examined it'

they specifically note the bank policies to the american bank association with this petition asking for this rule to provide guidance to try and weaken the punch of supervisory rules paid are you aware of that? >> that martin: yes, senator. >> this goes into the frame the chairman of the committee made earlier, we have a lot of folks that have been saying for months and years. let's rain in the bank's supervisors. now all of a

the biggest banks got in trouble in '08 when you look at the hundreds of banks around the country, dos is good for the diversity point or do you say we have too many? >> i'm in favor eveof the commuy banks. they fund the small businesses out there. that is the vibrancy of the economy. getting the bigger getting bigger and we have to have room for the small. we have to have all of them regulated in a way that we don't keep having the upside when times are good and taxpayers have the downside when times are bad which we are seeing again. >> what do you do about that this goes back to concentration. look at canada or australia. look at the banking systems in those countries. super conservative highly concentrated. they have not had the kinds of problems we had. i don't know if you ascribe that to the regulators. what is that >> look, having our banks more regulated, we can argue that the bigger banks which have been more regulated are so far making it through the downturn okay it is the medium sized banks where there is not as much regulation where, in fact, silicon valley bank itself, f

has the bank ever previously been on the fdic's list of problem banks? >> the reason i hesitate is we don't put the aggregate assets on the problem list. we don't indicate to the individual institutions. >> i believe i can come back and answer your question if i may follow-up for the record. >> the answer is yes. >> we will come back with any answer for you. >> thank you for your testimony. i still think there are lots of questions regarding what happened here especially with silicon valley bank and i appreciate your time and yield back. the gentleman from new york for five minutes. >> thank you mr. chairman. let me thank you all for your responsibilities and the duties for which you've done. a lot of folks talking about dodd frank but if you were here in 2008 that was a crisis. we are a long way away from where we were in 2008 and the banks system is much stronger now than it was and i think thank god that we have dodd frank at that particular time so let me ask feist chair as a part of your internal review you've indicated that you plan to evaluate whet

the banks you just mentioned, the french banking system, is not exposed to the silicon valley bank, it'sxposed to the silicon valley bank. so there are no links between the different situations. there's no specific concern for the financial banks. >> that was the french finance minister who said there are no links between the french banking system and that of the united states. he did talk about looking reality in the face and that's what investors are doing. the question going forward is whether this stays across the banking sector in europe or you see investors pick up specific areas where they perceive weakness. francine: it could change the revenue model. at the same time we could see central banks that don't raise rates. how unlucky is it that they have the decision this thursday. >> the timing of this, it's very particular. in the previous meeting, madam lagarde guaranteed this rate hike unless something extraordinary happened. a lot of those i spoke to said they were expecting this to be delivered on thursday but there's a real debate which is very active in markets about the sign

banks. the very banks that we're talking about in the eye of the storm. so have these events changed your perspective on main street banks? >> yes they absolutely have on the one hand you have seen growth in the main street lending. it's going to be up like 25% over two years so the fundamentals played out, but now we have to think about, okay, if you have the regulatory anchor that some of the largest banks have, then the long-term returns of that main street bank will not be as good as in the past so we shift incredibmentally to winning the largest banks. >> these events of the last few weeks have separated the pack to a degree that you didn't believe existed prior. it separated the field >> i would say the events of the last few weeks have accelerated our goliath is winning theme by at least five years. >> okay. i appreciate you being here. that's mike mayo, wells fargo securities reacting to that news from the white house banks on the mind of the treasury secretary, janet yellen speaking at

interested in various aspects of the bank. llion loan book. with bids due at the end of day friday, possible we could have some news next week. haidi: when it comes to the latest with credit suisse and ubs, j.p. morgan saying they thought the most likely scenario is for credit suisse to be bought by a rival, most likely ubs. what are we hearing about this as a potential option of last resort? i do wonder how investors would feel given they have not been impressed by the last two turnarounds for credit suisse. adam: it is clearly an option out there. it is not new. it has been out for a long time during the struggles credit suisse has been under in recent months and years. your point to what investors really want, part of what they want they have at least got over the last 24 hours. they know the liquidity is there from the swiss national bank. we are waiting to see if they actually tap that liquidity avenue. they have not done yet. more broadly what investors and credit suisse really want is the bank to get more competitive in

to the development banks. with me , we should consider the development bank as we had since the revolution, only from this place, without financing long-term projects, the identification of financial resources, assignment plans, assignment plans. in the cooperative development bank, we should use the money market and return of the cooperative development bank from the capital market. after that, in order to make sure that the banks provide real facilities , we can produce from tools such as the factory that is now going to iraq or the electronic bill of domestic lcs. use if i want to do this with the help of the banks, the parts of the banks have gone to the productive sector . the other is the government, which the supreme leader said , the financial economy and the government are the best back cover. really, in government lands, it will be difficult for the actions you said, if it is done, it will be done to everyone. now, reducing the tenure of giving more explanations, don't waste time, mr. doctor, more cle

the fed and five of the biggest central banks in the world, the bank of canada, bank of england, the uropean central bank and the swiss national bank are boosting their swap lines. swap lines are one central banks provide to provide dollar liquidity. clearly a coordinated effort which is a global funding market. they are saying they are going to -- they are conducting weekly operations. now you can open that swap line, call on it every day. countries where they fund -- they may have dollar-denominated debt and there is a dollar shortage, a squeeze on the clearly, how can they get it? this is how they can get it. this is a big thing they can do. it still does not answer the question what will happen in the u.s. with republic bank and the divvying up of the sbb but it is a big step. >> we are just hearing from the japanese finance ministers, they are speaking in tokyo saying they are carefully watching central bank liquidity in the -- enhancements. they will be examining how the credit suisse deal will impact japan. we know they have been having -- they have had their worst week since 2

at the central bank. to make extra loans, but itjust means that there is extra liquidity in the system and the central bank is paying 4% for that in the... in the uk, other rates elsewhere in the world. but then the question is to whom should those interest payments go? should it be to the savers or to the bank? and so, in my point of view, it should be a bit of both, but probably much more... a much, much biggerfraction should go to the savers and for the service they provide, a small fraction should go to...to the bank. well, on that note, frederick malherbe, a real pleasure having you on the show. thanks for your input and i'll check in with you soon. thank you very much. my pleasure. you know, the global transport system has had a time of unparalleled disruption. but with the pandemic seemingly over and the supply chain problems largely resolving themselves, what's the future of the train? i caught up with the boss of one of the world's biggest players to find outjust how the world is letting the train

because the concern is that unlike the big banks, the regional banks aren't as well capitalized. 're certainly not as regulated. and we don't know exactly how well they've been managing this interest rate risk in the face of what has been a rate shock. a very quick move and a very big inversion of the yield curve >> yeah, i will tell you the question isn't about the type of regulation the question is are they regulated enough i can assure you they are regulated enough they may be regulated differently but they're regulated enough i would address that point i think the message of last couple of weeks in banking is you want diversification having all your eggs in one basket makes you very prone to changes in that sector or having too much concentration on your balance sheet, in the case of the bond market, might not be a good position to be in and so i think that's the message. the other thing is, a lot of the regional banks have a lot more retail funding, which doesn't tend to move so fast and also probably is a percentage of deposits, they have more coverage from the fdic so i wou

one thing is, do we trust in the bank? and there might be some doubts in states because there has been some revelation and similar level which, where we have a lower level of regulation at the rate $250000000000.00 total s a bank with little bit less than $250000000000.00. we've already very big bang and have a time to be systemic. so i think there's some problems in the regulation nighted state through the state have to cope with to come back to the main reason, i think for this guarantee was a different one. it about silicon valley, silicon valley, it's very important that they, all the small tech companies are seen as the guarantee for future growth and technology knowledge management. and if the company's get into trouble, this might have long term negative impact of growth united states and on its position in world economic power. so i think that's why biden was willing to guarantee all the, all the, although she was not obliged to hand this book off. thank you very much, bye now to some of the other global business st

your bank is the fourth biggest bank in the u.s.. jp morgan, bank of american, wells fargo in the citi. there is a bank in the west coast called silicon valley bank. [laughter] not as well-capitalized. did the regulators not understand what was going on? do people in the banking world, people like you, were you surprised? jane: you had a combination of two pieces, the macro and igo syncretic factors around silicone -- idiosyncratic factors around silicon valley bank and the acceleration of social media about what went down. the increasing rates have been the fastest and steepest in 40 years. there is pain that comes with that. secondly, you had idiosyncratic factors, that is the polite british way of describing them in silicon valley bank. as all of this played out, you saw serious holes in the balance sheet management. they had a concentrated client base. that client base ended up burning cash much faster than anticipated. and they ended up under duress capital and it went down pretty quick. david: in 2007 the u.s. passed tarp legisl

but i wonder whether it is the banks, the central banks, that are taking central stage. the think that we do not know at this stage is how much of the banks are going to tighten up in terms of their lending standards and what impact, ultimately, that will have on the economy. we do not know that and i am not sure the fed knows either. alix: right. will it impact it? we know it well, but not by how much. there is a shadow banking conversation come how much money is in debt, that banks have landed to that is not regulated by anybody in terms of the fdic or fed, that is a risk as well. but i have been hearing about that for a while. it has not yet materialized. guy: it is one of those things that is like wait, wait, hurry up. it will be an issue when it is an issue. what is the biggest risk this week? what is the biggest risk going forward for the investors? central banks or regional banks, where should you focus your attention? to answer this question do we are joined by mike and edward. mike mckee, let's bring you into the conversation, where are you in terms of understand

the fed talks to regional banks, the st. s fed had a blog post where they said, worst case scenario, a bank might sell underwater bonds to raise cash, thus realizing losses and reducing regulatory capital. this is from last month. this was something flagged by the fed. you know it is a thing. do they get even more cautious now that there is an example? aneeka: having this risk lurking on the horizon just tells us the fed would be even more cautious. and coming in to these two very key releases we have been getting this week and next week, i think it is pretty much priced in that we could get a much higher number with 200 k in terms of payroll reports. and cpi could well be within the range that market investors are predicting. the fact that we have this risk lurking at the horizon would tell fed officials that they need to -- they have raised rates quite aggressively so far. not like we are very far from the target range. it would put a lot of caution for fed members that they don't want to spark a contagion risk looming into

bank down 6.2%. a lot of ushere learned throug the lens of deutsche bank which was using the instrument that stock down today. commerz bank down 3.9% today across to the french names is bnp down the most. down 4.1% and contrast to soc gen which is down 2% and santander is down 2% unicredit down 1.2%. hsbc suffering a weaker day in the asian markets down 2.8%. waiting for a trade on barclays. it is slow to open up. ubs/credit suisse is on our radar after the weekend events it was down 60% moving to the big price. you see barclays is still not opening. that is interesting as we talk about the global banks in europe today. let's take a look at the u.s. banks listed in frankfurt. one story in the last session is the consolidation of the depo deposits we hear from the big banks faring on the back of deposit inflows with the silicon valley bank and first republic and other banks stateside. 4.1% higher for bank of america. the deepest for the u.s. banks in frankfurt in contrast to wells fargo down 1.3%. so, we are still waiting for reaction in ubs and credit suisse we will bring those numbers up on the boards

bank , the current capital bank, the possibility and power of providing facilities , the capital increase, as a serious issue, secondly , the government's debts to the banks should be definitely or pay kard kard, the government wants to transfer equity shares from the collection of equity shares to shares . banks should participate in long-term projects. these resources should be specified. if people's money and blue bank's money are used in a 5-10-year project, it is recommended that such projects be given to development banks. consider only from this place without financing long-term projects, dreams, identification of financial resources, assignment plans, assignment plans in the cooperative development bank, the money market, and the return of the cooperative development bank, let's use the capital market . iraq gam or electronic bill of domestic lcs, so we can use them, if these are with the help of banks, express bank parts towards the productive sector, mahdi's hour, reduce the government's tenure, which the supreme leader said, the financial economy and the government better pull

bank when under the red flags were everywhere for this bank as well. and even more interesting, several, the 1st republics, top ranking executives selling $12000000.00 in the stuck into 2 months leading up to this crisis. this is public disclose information and quite frankly, so 1st republic got into this smith done about 88 percent this month. so far, so less than stellar finances and broader worries influencing. that's what happens next with 1st republic. that's the big question and there's really no answer yet. it's like every morning we wake up here on wall street, there's a new update on the banking sector that dictates the market direction. like today, 1st republic, down about 40 percent heading into the close. this at the receiving $30000000000.00 in deposits from 11 of the nation's largest banks last week to ease liquidity concerns. a move that was meant to lift up confidence the 1st republic. but yeah, that obviously had that happened. and today the wall street journal reported the j . p. morgan at c e o. working with others in the industry on

futures in the red this morning. bank stocks continuing to decline this morning that follows the credit suisse deal that was supposed to stabilize the global financial markets. ideally, all of the markets throughout the globe why are we seeing this reaction from the futures and bank stocks this morning >> look, i think that the way this deal came through doesn't sound like a commercial solution that is unnerving. that is unnerving investors. the bigger question is quite frankly 39% chance that they don't hike that is actually quite large that has been increasing which is to say the markets are starting to think the fed probably shouldn't do anything and if they do, then we are likely going to go into recession and the equity markets are not priced for it and it would have to fall further in order to accommodate that outlook. >> gene, what are you? we are seeing the dow down 150 points at the open at this stage. the other two indices in the red. bank stocks down 2% or 3% after a deal that was supposed to stabilize things >

i've been hoping that they would be able to sell assets in the customer bank on the basis of the bank not resort to essentially providing unlimited deposit insurance. the predicate of deposit insurance has always been about protectioning the little guy and having sophisticated counterparties, banks, bear some risk and have market risk. i was hoping for different news this morning. >> what do you think should have been done? in terms of protecting the little guy, people would argue what about small businesses that have accounts over that cap? >> look, we're talking about a bank that had 97% uninsured deposits whose biggest creditor seems to have been a $3 billion account with a cryptocurrency and we're talking about a bank where all of the depositors had already been taken care of, and so what i think we're doing here is risking a fundamental, structural change to our regulatory system in a situation whereio you had a bank completely under the nose of the fed. where was the supervision of the bank people talk about regulation and the rules? i'm asking where is the supervisors as this b