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The ongoing banking debacle is not a rerun of the global financial crisis – neither its good nor its bad bits

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Leslie Yee

Leslie Yee

Published Thu, Mar 23, 2023 · 05:50 AM
    • While the ongoing banking crisis may wreak less damage than the global financial crisis, stocks can still be in for a rough ride and recovery prospects look unexciting.
    • While the ongoing banking crisis may wreak less damage than the global financial crisis, stocks can still be in for a rough ride and recovery prospects look unexciting. PHOTO: BT FILE

    INVESTORS these days are constantly confronted with crises. In early 2020, the Covid pandemic was spreading across many countries. In early 2022, Russia invaded Ukraine.

    Recently, a banking crisis erupted. Three banks in the US failed this month: Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank.

    Over the weekend, the Swiss authorities engineered a deal for UBS Group to buy the teetering Credit Suisse Group – supported by billions in state funding.

    Hock Lock Siewcredit suisseBanksCredit Suisse GroupUBSSilicon Valley Bankglobal financial crisisGlobal equitiesSingapore equitiesSpotlight

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