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The investigation into Credit Suisse reveals significant failures by former executives and regulatory bodies, particularly Mark Branson of FINMA, who allowed the bank to misrepresent its financial health. The report highlights a toxic culture and lobbying efforts that may have exacerbated the crisis, with political contributions from UBS and Credit Suisse raising concerns about regulatory influence.
Liechtensteinische Landesbank (LLB) shares closed at 74.00 euros at the end of 2024, reflecting a slight monthly decline of 1.33% but a year-on-year increase of 7.64%. With a market capitalization of 2.3 billion euros, the bank's P/E ratio stands at 12.77, and it reported a net profit of 164.6 million euros. Current analysis suggests shareholders may need to consider their options regarding buying or selling shares.
Glarner Kantonalbank's share price remains stable at EUR 22.45 as of December 22, 2024, reflecting a slight monthly decline of 0.88% and an annual drop of 6.65%. With a market capitalization of EUR 303.1 million, the bank's solid financial position is indicated by a P/E ratio of 11.37 and a price/cash flow ratio of 4.19. However, shareholders are advised to consider their options, as recent analyses suggest a need for action regarding their investments.
PUK critically examines the "too-big-to-fail" framework surrounding Credit Suisse, highlighting the lessons learned from its downfall. The situation illustrates that a "too big to fail" law exists, yet politicians and authorities have found themselves in a challenging position.
Berner Kantonalbank is demonstrating stability in the market, with a market capitalization of 2.3 billion euros and a share price of 249.50 euros as of December 21, 2024. The share price has seen a slight decline of 0.20% but remains 4.81% above its 52-week low. Key financial ratios indicate a solid position, yet recent analyses suggest shareholders may need to consider urgent actions regarding their investments.
Hong Kong is solidifying its status as a global crypto hub, with a remarkable 85.6% increase in transaction volumes year-over-year, despite retail adoption remaining at 24%. The Securities and Futures Commission (SFC) has accelerated licensing for virtual asset trading platforms (VATPs), now totaling seven, while the Hong Kong Monetary Authority (HKMA) is spearheading initiatives like Project Ensemble to integrate digital assets into traditional finance. These efforts aim to enhance investor protection and foster a stable yet innovative digital asset ecosystem.
Remittix (RTX) is revolutionizing cross-border payments by enabling users to convert over 40 cryptocurrencies into fiat and transfer it to any global bank account. With a focus on simplicity, affordability, and transparency, it eliminates hidden fees and middlemen, making it an attractive option for unbanked individuals. The platform also allows businesses to integrate its Pay API, facilitating cryptocurrency payments while providing merchants control over cashing out in multiple fiat currencies.
The PUK report reveals that big bank regulations, particularly the "too big to fail" (TBTF) legislation, failed to protect Credit Suisse, necessitating state intervention. Despite intentions to bolster resilience and protect taxpayers, exemptions allowed the bank to hide significant equity gaps, leading to a crisis that required a potential nationalization. As reforms are planned, the government must acknowledge the reality of needing to provide substantial rescue funds for systemically important banks in the future.
Raiffeisen Bank International (RBI) has shown a strong performance in 2024, with shares priced at EUR 19.35, reflecting a 5.45% monthly increase and a 2.79% rise year-on-year. The bank is distributing a dividend of EUR 1.25 per share, and its market capitalization stands at EUR 6.4 billion. However, recent analyses indicate that shareholders may need to consider urgent actions regarding their investments.
The recent PUK report on Credit Suisse highlights the urgent need for competent leadership in Swiss banking, emphasizing that past failures stemmed from greed and lack of integrity among managers. Recommendations include stricter equity requirements for UBS and a review of bonus systems, as well as easier penalties for non-compliance. The report warns that without significant reforms, future banking crises could have devastating impacts on Switzerland's economy.
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