Page 60 - Us Fed News Today

While the most common type of risk faced by a commercial bank is a jump in loan defaults – known as credit risk – that’s not what is happening here. It boils down to two other big risks every lender faces: interest rate risk and liquidity risk.

The wider impact of the US Fed’s rate raising campaign on bank-held investments is now hogging the headlines, but the question must be asked why regulators did not see Silicon Valley Bank’s demise coming.

Regulators take control of a second bank and race to roll out emergency measures

KUALA LUMPUR: The ringgit retreated from previous days' gains to open lower against the US dollar today as the greenback strengthened following the United States (US) Federal Reserve’s (Fed) hawkish Semiannual Monetary Report to the US Congress, an analyst said.

The US Fed will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation, Jerome Powell said.

The Dow Jones Industrial Average shed around 575 points, or 1.7%, to finish at 32,856.46.The European market also turned red. The pan-European STOXX 600 index lost 0.77%

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar today as the greenback took a breather following a small pullback in Treasury yields yesterday and ahead of the United States (US) Federal Reserve’s (Fed) Semiannual Monetary Report to Congress, said an analyst. 

KUALA LUMPUR: The ringgit closed higher against the US dollar today due to some bargain-hunting activities perhaps because the ringgit is already in an oversold position, said an analyst.

US interest rates will likely peak at a higher level due to economic data that came in stronger than recent trends suggested, Feds Powell said.

KUALA LUMPUR: The ringgit closed marginally higher against the US dollar today on renewed buying interest amid slightly easing demand for the greenback due to softer US Treasury yields, said an analyst.