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KUALA LUMPUR: The collapse of Silicon Valley Bank (SVB) in the United States is unlikely to have a contagion effect on the banking sector here said Datuk Seri Ahmad Maslan.
There is definitely some money going in there. and also, i think, a really important part of the deal we're seeing here is what's happening to some commercial bonds in credit suisse. the so-called 81 bonds. now, we can get sort of more into what those mean, but essentially, about $17 billion worth of bonds are being written off. so you have to question how are investors in europe, investors in banking stocks and banking bonds going to feel tomorrow morning, given this one type of asset has essentially been written off, is worth absolutely nothing. and so going ahead into tomorrow, when we see ...
>> major banks are stepping in to make contributions, jp morgan, bank of america, citigroup, wells fargo, is that a good sign the private sector stepping up to help the crisis. >> i would rather have private banks than have bailout nation. i'm against the federal government bailing out every big business and every big bank that fails. i just hate the relationship between big business and big government. but the question then, mike, is are these banks intervening because there's fear of a contagion effect. the good news is the banks that you're talking about, bank of america, citibank and, of c...
Indictment to be quite s imminent coming from the jac smith investigation either o the insurrection or th mar-a-lago documen investigation. i suspect we'll see new york indictments drop first we may see fani willis down in georgia returning indictment fairly soon. i would expect the final and perhaps, most consequentia indictments to be ended down b jack smith, perhaps in the coming months. >> before i let you go, i do want to pivot to president biden, what's been going o with the banking industry today. the president called for stronger penalties of failed banks executives your sense of where...
Whole. >> let's talk about some of those emergency measures the government took over the weekend. matt, stay with us. also joining the conversation is aaron klein. good to see you. thank you for joining us. in addition to the fdic ensuring all depositors including those who didn't have insurance and guaranteeing deposits they created an emergency lending facility really to act as a back stop, the treasury here putting some $25 billion on the line suggesting that the financial system is whole, is sound. and that, of course, is to prevent this continuing on, this contagion effect to impact other...