We reported in November how Switzerland got it wrong with an arcane capital rule that helped topple Credit Suisse - now that rule will be overhauled wsj.com/finance/bankin… via The Wall Street Journal

The Explosion of Asylum Claims Driving the Global Migrant Crisis wsj.com/us-news/asylum… via The Wall Street Journal

Via the Reliable Sources newsletter: This is the stop-in-your-tracks front page of Friday's Wall Street Journal, marking the one-year anniversary of Evan Gershkovich's detention (cnn.it/3TBLHme)

Team #SwimForEvan was out in full force last weekend, braving the elements in 10 different Brighton beaches around the world-from New Zealand to Canada via South Africa--in tribute of Evan's love of Brighton beaches in Brooklyn and England ❤️ #FreeEvan
strava.com/clubs/1161501/…

Now we have confirmation from the SNB itself: it drew on the Fed's FIMA facility to provide FX to Credit Suisse.

Here's something: the SNB—which drew $60 billion from the facility—says it had to post $75 billion of Treasury collateral.

??

Julius Baer’s Benko issues in the spotlight bloomberg.com/news/articles/… via Businessweek

➡️Switzerland's financial fortress isn't as solid as you think, writes Paul Davies bloomberg.com/opinion/articl… via Bloomberg Opinion

336 days a hostage in Russia

End this nightmare

Free Evan Free Evan Free Evan Free Evan Free Evan
Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan Free Evan freegershkovich.com

An absolute MUST READ on Bloom today about the private credit market. In a nutshell

- ppl invest because there's no trade so pricess don't move (artifically low vol)
- marks in funds are all over the place
- private funds mark higher than regular mutual funds who own the same

The strength it must take my The Wall Street Journal colleague #EvanGershkovich to smile as a Moscow court once again upheld his detention on bogus charges. Evan was just doing his job as a journalist. Free him now! #IStandWithEvan

👀'In the early days of the Ukraine war, data trickled out showing that a mysterious firm called Nord Axis had become one of the biggest global traders of Russian oil.' Joe Wallace
Anna Hirtenstein
Costas Paris on how a maze of companies disguised the trades wsj.com/business/energ…

Christian Sewing pulled Deutsche Bank to firmer ground, but investors have yet to fully buy into the comeback story wsj.com/finance/bankin… via Patricia Kowsmann

Overseas developments from Mayfair to Toronto hit the market
bloomberg.com/news/articles/… via Bloomberg Markets

Wealthy families lined up to invest with René Benko, a self-made high school dropout. Now they are suffering through Europe’s biggest property bankruptcy since the global financial crisis.

With ⁦Eliot Brown⁩ ⁦Konrad Putzier⁩ wsj.com/real-estate/sp…

Last week it was Finma, now the
Swiss central bank weighs in on how it did everything right with Credit Suisse --- snb.ch/de/media/dossi…

It’s Monday, December 25.

Wall Street Journal reporter Evan Gershkovich was detained by the Russian FSB on March 29, 2023.

271 days ago.

His “crime” was practicing journalism in Russia.

RELEASE HIM NOW!

#IStandWithEvan

Switzerland’s financial regulator is investigating Julius Baer over inadequate risk-control structures that contributed to the bank’s exposure to bankrupt property mogul Rene Benko bloomberg.com/news/articles/… via Bloomberg

Swiss financial giant UBS’s latest push in the U.S. investment-banking market has measured ambitions wsj.com/finance/bankin… via The Wall Street Journal

How Swiss authorities bungled Credit Suisse oversight reuters.com/business/finan…

Russian oligarch Roman Abramovich said he would donate billions of dollars of proceeds from the sale of Chelsea FC to Ukraine victims. Now that money is frozen in a U.K. bank account. on.wsj.com/3vbwXSg on.wsj.com/3vbwXSg