{ }
The Swiss parliamentary commission's investigation into the Credit Suisse debacle reveals that lobby influence has hindered higher equity allocations, raising concerns about the stability of large banks essential to the Swiss economy. The report emphasizes the risks posed by insufficient capitalization relative to the banks' operational risks, echoing lessons learned since the UBS bailout in 2008. As Switzerland grapples with the implications of these findings, the need for robust financial oversight becomes increasingly critical.
Ethereum Layer 2 networks have reached a historic milestone with stablecoin holdings soaring to $13.5 billion, driven by increasing adoption of digital assets and decentralized finance. Tether (USDT) and USD Coin (USDC) lead this growth, contributing to a global stablecoin market cap exceeding $202 billion. Predictions for 2025 suggest further acceleration in stablecoin adoption, bolstered by favorable regulatory developments and significant inflows into centralized exchanges.
US interest rate markets saw slight upward trends, with the two-year Treasury yield falling to 4.13% and the ten-year to 4.18%. Corporate investment grade and high yield indices gained 1.34% and 1.15%, respectively, while commodity prices weakened, particularly gold and crude oil. Equity hedged strategies across US, European, and Asian markets generally produced positive returns, driven by strong performances in consumer discretionary and financial sectors, despite some volatility in healthcare and energy.
France’s financial regulator, AMF, has authorized BPCE’s cryptocurrency subsidiary, Hexarq, to operate as a crypto asset service provider. Hexarq will offer services such as crypto custody and trading against the euro, integrating its app into the Banque Populaire and Caisse d'Épargne networks by 2025. This marks Hexarq as the fourth crypto business approved by AMF, joining Société Générale’s Forge, Deblock SAS, and GOin SAS.
UBS has maintained a neutral recommendation for Novo Nordisk A/S, a company focused on the design, manufacture, and marketing of pharmaceutical products. The majority of its sales come from diabetes and obesity treatments (92.6%), with the remainder from rare disease treatments (7.4%). Geographically, sales are distributed as follows: Europe-Middle East-Africa (21.9%), United States (54.9%), North America (3.9%), China (7.2%), and others (12.1%).
Münchener Rück's share price fell by 1.4% to €494.90 following UBS's downgrade from "Buy" to "Neutral," despite a raised price target of €555. The stock is currently 4.8% below its 52-week high of €526.00 but remains 24% above its low of €374.10. Analysts project a positive outlook with an average target of €531.50 and expected earnings per share of €42.20 for 2024, alongside an increased dividend of €16.47.
Novartis will close two MorphoSys sites in Munich and Boston by the end of 2025, following delays in the development of pelabresib. The Swiss pharmaceutical company acquired MorphoSys for €2.7 billion ($2.9 billion) earlier this year, focusing on innovative oncology treatments.
Germany's Bundestag has passed the Digitalization of Financial Markets Act, enabling the full implementation of the EU's MiCAR cryptocurrency regulation before its December 30 deadline. This legislation designates BaFin as the regulator, allowing German firms to operate under MiCAR while establishing a one-year transition period for existing licenses. Meanwhile, varying transition periods across EU countries necessitate that crypto asset service providers secure new authorizations promptly to avoid operational disruptions.
Berner Kantonalbank (BEKB) is set for a significant management change as Christian Schüpbach takes over the Market Services department and joins the Executive Board, succeeding Mark Haller. Following this announcement, shares rose by 0.81% to 250.00 euros, despite a monthly decline of 0.80%. The bank's market capitalization stands at 2.3 billion euros, with current prices 5.00% above the 52-week low and 4.20% below the 52-week high.
The Swiss Bankers Association (SBA) supports the Parliamentary Commission of Inquiry's examination of the Credit Suisse crisis, highlighting the need for responsible corporate management, efficient supervision, and effective liquidity provisioning. The ICC report emphasizes that mismanagement and inadequate oversight were key factors in the crisis, calling for targeted regulatory changes and enhanced liquidity measures to ensure financial stability. The SBA plans to analyze the report further and engage with policymakers to contribute to ongoing discussions on banking stability.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.