End Of Day Report March 15th

HIGHLIGHTS

-	Credit Suisse CEO says Credit Suisse is a strong bank and overshoot all regulatory requirements, Co. liquidity base is strong Material weakness refers to financial reporting controls. 
        Have no impact on financial results. Heightened attrition in a moment of change is not surprising; no issues hiring from the market.
-	ECB Set to Raise Rates. Unlike the Fed, the Banking Crisis Won’t Weigh on Its Decision- Barron’s
-	Bank of America sees Inflows of over $15 billion reportedly seen amid SVB fallout.
-	SVB swag sells on Ebay for thousands of dollars
-	Former ECB official Constancio says the "ECB should do at most 25bps and not the announced 50bps"; adds, the Fed should only do 25bps
-	FED SWAPS PRICE IN 100BP OF RATE CUTS BY DECEMBER 2023 FROM EXPECTED PEAK 
-	ECB OFFICIALS ASKED LENDERS ABOUT CREDIT SUISSE EXPOSURES - WSJ.
-	ECB officials have reportedly contacted lenders under its supervision to ask about exposure to Credit Suisse, according to WSJ sources
-	Credit Suisse has appealed to the SNB for a public show of support as share slide sparks wider rout, according to FT; also asked for a similar response from Swiss regulator FINMA\
-	First Republic Bank downgraded to ‘junk’ status by S&P Global Ratings in a four-notch move
-	Swiss government facing pressure from at least one major government to intervene on Credit Suisse according to Reuters source
-	BNP Paribas is reportedly reducing exposure to Credit Suisse (CSGN SW), according to Bloomberg citing sources
-	Fitch says US bank fallout extends to various non-bank financial sectors, but it is not yet material from a ratings perspective
-	US DoD's Milley says Russian harassment of US drone was intentional, but not clear whether physical contact was; declines to comment on whether the incident could be considered an act 
        of war
-	Switzerland has reportedly held talks on options to stabilize Credit Suisse, FINMA is likely to make a statement soon, according to Bloomberg
-	Options include a statement of support, as well as a backstop. Other ideas touted include a separation of the Swiss unit and "a long-shot orchestrated tie-up with larger Swiss rival 
        UBS Group AG", according to the sources, who cautioned it’s unclear which, if any, of these steps will actually be executed