Weltwirtschaftskrise 2.0

    Wird wieder ordentlich in die Tasche gegriffen:


    https://www.credit-suisse.com/…-announcement-202303.html


    Zitat

    Credit Suisse is taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank (SNB) up to CHF 50 billion under a Covered Loan Facility as well as a short-term liquidity facility, which are fully collateralized by high quality assets. Credit Suisse also announces offers by Credit Suisse International to repurchase certain OpCo senior debt securities for cash of up to approximately CHF 3 billion.

    Das entsteht doch alles aus dem Nichts...


    https://www.ft.com/content/ec4…2a-4381-a923-c2fbd7ea9cfd


    Zitat

    UBS has agreed to buy Credit Suisse after increasing its offer to more than $2bn, with Swiss authorities poised to change the country’s laws to bypass a shareholder vote as they rush to announce a deal before Monday


    Nehme an der Grund:


    Zitat

    The all-share deal between Switzerland’s two biggest banks is set to be announced as soon as Sunday evening and will be priced at a fraction of Credit Suisse’s closing price on Friday, all but wiping out the target’s shareholders, three people with direct knowledge of the situation said.


    UBS will now pay more than SFr0.50 a share in its own stock, up from a bid of SFr0.25 earlier today worth around $1bn that was rejected by the Credit Suisse board, the people said. But the price remains far below Credit Suisse’s closing price of SFr1.86 on Friday.


    Also ursprünglich ein Siebtel des Marktpreises bei Börsenschluss jetzt ein knappes Viertel.

    Es gibt keine Bankenkrise. Gehen sie bitte weiter. Hier gibt es nichts zu sehen.


    To big to fail, to big to exist.


    Senator Bernie Sanders introduced legislation that would break up financial institutions that are too big to fail. “If an institution is too big to fail, it is too big to exist,” Sanders said. “We should break them up so they are no longer in a position to bring down the entire economy.

    Bernie, 2009



    Mal abgesehen von den Kursen, ich weiß ja nicht was da dran ist?


    Jeffrey Epstein Victims Sue Deutsche Bank and JPMorgan Chase, Calling Them ‘Complicit’ in Epstein’s Sex Trafficking Empire


    Überraschung! Die Schweizer wollen zwar die Bank retten, aber nicht ihre AT1-Anleihen:


    https://www.bloomberg.com/news…upends-275-billion-market


    Zitat

    Among the biggest losers in the shotgun sale of Credit Suisse Group AG are investors in the firm’s riskiest bonds, known as AT1s, worth $17 billion.


    These money managers are set to be wiped out — potentially sending that $275 billion market for bank funding into a tailspin, while threatening blowback for European policy makers in crisis-fighting mode.

    Zitat

    Creditors are frantically poring through the fine print for these so-called additional tier 1 securities to understand if authorities in other countries could repeat what the Swiss government did on Sunday: Wiping them out while preserving $3.3 billion of value for equity investors. That’s not supposed to be the pecking order, some holders in the bonds insist.


    “This just makes no sense,” said Patrik Kauffmann, a fixed-income portfolio manager at Aquila Asset Management, who holds the notes. “Shareholders should get zero” because “it’s crystal clear that AT1s are senior to stocks.”


    Prinzipiell sollen die Halter dieser Anleihen im Krisenfall durchaus betroffen sein:


    Zitat

    It’s not that the bonds weren’t supposed to take some of the blow from the Credit Suisse collapse. In fact, that’s in large part what they were created to do when they were first conceived by European regulators in the aftermath of the global financial crisis, as a way to impose losses on creditors when banks start to fail without resorting to taxpayer money.


    Aber dass man die Besitzer der Bank weniger angetastet lässt, war offenbar unerwartet und stellt vielleicht das ganze Marktsegment in Frage:


    Zitat

    One UK bank CEO put it even more bluntly: The Swiss have killed this key corner of funding for lenders, he said, asking not to be named because the situation is sensitive. His comments underscore how the global financial community is on edge after the UBS takeover of Credit Suisse, which came on the heels of the collapse of three regional US banks.

    Zitat

    Yet market participants say the move will likely lead to a disruptive industry-wide repricing. The market for new AT1 bonds will likely go into deep freeze and the cost of risky bank funding risks jumping higher given the regulatory decision caught some creditors off-guard, say traders.


    That would give bank treasurers fewer options to raise capital at a time of market stress, with the Federal Reserve and five other central banks announcing coordinated action on Sunday to boost dollar liquidity.


    Jedenfalls zieht der Ausfall von AT1 bei Credit Suisse jetzt seine Kreise, inklusive zu den Sympathiebankern von HSBC:


    Zitat

    Prices of AT1s in Asia slid on Monday, with debt securities of some lenders in the region dropping by record amounts. Bank of East Asia Ltd.’s 5.825% perpetual dollar note slumped 9.4 cents on the dollar to about 80 cents, which would be a record decline if maintained through the end of Monday’s trading, according to data compiled by Bloomberg.


    HSBC Holdings Plc’s 8% AT1 fell about 5 cents Monday to below 90 cents, according to credit traders. That would be its biggest daily drop since it began trading early this month.

    Was genau versteht die westliche Autisten-Blase nicht bei der Konfrontation mit der SCO? Diese permanente Selbstverletzung ist nur noch schmerzvoll anzusehen. Wer heute noch meint man müsse "andere Töne" gegen China anschlagen, der wird sich wahrscheinlich über die nächsten finanziellen/rohstoffmäßigen Eskalationsstufen wundern, die China noch in der Tasche hat (selbst Russland ist gemessen an der Lage sehr kooperativ, sie könnten auch komplett dicht machen und dann würden wir schnell ganz dumm dastehen).



    Nachdem die Banken wieder wie Dominosteine wackeln, war da nicht damals mal was geplant mit mehr Eigeneinlagen der Banken, Kapitaldecke, "nie wieder müssten Steuerzahler für Banken einspringen" und wieder exakt derselbe Mist.


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