Sun.Mar 26, 2023

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Investors force HSBC shareholder vote on structural overhaul

TheGuardian

Minority shareholder Ken Lui leads campaign seeking to split bank’s Asian and western businesses Hong Kong investors have forced HSBC into a shareholder vote on its structure and strategy, including a potential spin-off of its Asian arm. An investor group, led by the minority shareholder Ken Lui, said the bank’s Asian activities were “effectively subsidising the western businesses, to the detriment of HSBC’s global shareholders” in a way that undermines efforts to increase the bank’s value and g

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First Citizens said to near deal for Silicon Valley Bank

American Banker

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IMF chief warns global financial stability at risk from banking turmoil

TheGuardian

Kristalina Georgieva joins others in voicing fears about threat to world economy after recent bank collapses The head of the International Monetary Fund has warned that the global economy faces risks to its financial stability because of the turbulence in the banking sector. Kristalina Georgieva, the managing director of the Washington-based lender of last resort, said rising interest rates had put pressure on debts, leading to “stresses” in leading economies, including among lenders.

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Bulgaria takes on new T2 wholesale payment system

The Paypers

The Bulgarian National Bank (BNB) and the Bulgarian banking community have migrated to the T2 wholesale payment system on 20 March 2023.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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It may not be 2008 all over again – but this banking turmoil is not without danger | Richard Partington

TheGuardian

New approach is needed to get UK through looming credit crunch after failure of recovery from crash Crashing financial markets, depositors rushing to withdraw their money, and fears over the next domino to fall. Not since the 2008 financial crisis has the global banking system appeared so fragile, as the rapid increase in interest rates used to tackle soaring inflation sends shock waves through the City.

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Preventing Bank Failures is Not the Job of Regulators

The Financial Brand

This article Preventing Bank Failures is Not the Job of Regulators appeared first on The Financial Brand. Senate and House banking committee probes into the failures of SVB and Signature Bank have to consider the true role of regulators. This article Preventing Bank Failures is Not the Job of Regulators appeared first on The Financial Brand.