mosaec

PacWest Bank, Thrashed by Deposit Crisis, Will Be Taken Over

Banc of California Inc. Banking and Financial Institutions California Mergers, Acquisitions and Divestitures PacWest Bancorp

PacWest Bank, Thrashed by Deposit Crisis, Will Be Taken Over

Banc of California is set to absorb PacWest, a larger lender that has seen its depositors flee this year.

By Rob Copeland

Global Economy Shows Signs of Resilience Despite Lingering Threats

Banking and Financial Institutions Economic Conditions and Trends Inflation (Economics) Interest Rates Recession and Depression Russian Invasion of Ukraine (2022) United States Economy

Global Economy Shows Signs of Resilience Despite Lingering Threats

The International Monetary Fund upgraded its global growth forecast for 2023.

By Alan Rappeport Eshe Nelson and Jeanna Smialek

Pan Gongsheng Named Head of Chinese Central Bank

Banking and Financial Institutions China Currency Foreign Investments Pan Gongsheng People's Bank of China Politics and Government Renminbi (Currency)

Pan Gongsheng Named Head of Chinese Central Bank

Pan Gongsheng, who was named governor of the People’s Bank of China after overseeing $3 trillion in reserves, stopped a currency plunge in 2016.

By Keith Bradsher

UBS Is Fined Nearly $400 Million in Credit Suisse’s Archegos Mess

Banking and Financial Institutions Credit Suisse Group AG Fines (Penalties) Regulation and Deregulation of Industry UBS AG

UBS Is Fined Nearly $400 Million in Credit Suisse’s Archegos Mess

The Swiss banking giant, which acquired its rival earlier this year, will cover regulatory fines related to Credit Suisse’s mismanagement in the collapse of the investment firm Archegos in 2021.

By Rob Copeland