It was learned from the People's Bank of China that the People's Bank of China and the State Bank of Pakistan recently renewed a bilateral local currency swap agreement, with a swap scale of 30 billion yuan/1.180 billion Pakistan rupees. The agreement is valid for three years and can be extended with the consent of both parties. The People's Bank of China said that the renewal of the bilateral currency swap agreement between China and Pakistan will help strengthen financial cooperation between the two countries, expand the use of local currencies between China and Pakistan, and promote bilateral trade and investment facilitation.

This article is a guide to opening a bank account in the Philippines and will analyse the main types of bank accounts in the Philippines, the documents required and the process of opening an account for foreigners, as well as presenting the popular accounts of several large banks and their account opening conditions and funding requirements.

An automated clearing house (ACH) is an electronic funds transfer system that allows cheap and fast transaction clearing between financial institutions.

Wells Fargo says late payments on credit card balances are on the rise, which could be a warning sign that the U.S. economy is about to face difficult times。

Shares of First Republic Bank of the United States plummeted 49 on April 25, local time..After 38%, the 26th continued to fall nearly 30%。The bank's share price has fallen about 95% this year.。Local time on April 26, affected by the U.S. government's reluctance to intervene in the first Republic Bank rescue process news, the first Republic Bank shares suffered a setback, its market value in the intraday once fell below $1 billion。At the close of trading on the 26th, First Republic shares closed at 5 per share..$69, down 29 from the previous session.75%。

On April 19, it was reported that as the acquisition progressed, more and more employees of Credit Suisse began to worry about their prospects.。The combined UBS group will reportedly have up to 120,000 employees, with at least a third of those affected by the cuts.。

Recently, a joint survey study showed that the U.S. banking crisis still has the potential for a widespread outbreak.。The study notes that hundreds of banks in the U.S. have seen their balance sheets deteriorate to varying degrees due to the Fed's rapid rate hikes。

On Tuesday, local time, J.P. Morgan (J..P.A series of phone calls between Morgan Chase & Co CEO Jamie Dimon, Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen kicked off the $30 billion bailout of First Republic Bank.。Wall Street's major banks have worked together to "rescue" First Republic Bank, which has been sliding since the collapse of Silicon Valley Bank last week, and the $70 billion in financing announced by JPMorgan Chase and the Federal Reserve on Sunday night failed to ease the pressure this week, with the stock down nearly 62% on Monday.。According to people familiar with the matter, the CEO of the largest U.S. bank, the Chairman of the Federal Reserve and the Secretary of the Treasury began brainstorming and listened to another powerful regulator and concluded that perhaps JPMorgan Chase could give First Republic some deposits？Such an infusion of funds may help the bank solve a major problem.。Recently, the crazy withdrawal of deposits by customers has put heavy pressure on Silicon Valley banks to continue to operate independently。Last Thursday, customers withdrew $42 billion in just one day, leaving the bank with a negative cash amount and regulators had to seize the bank on Friday.。So the big concern right now is that the same could happen with First Republic。The day after his conclusion, Dimon told executives at other big banks about the idea of giving a deposit bailout to First Republic Bank。During an event at the Bank Policy Institute, Dimon approached other executives, including Citigroup CEO Jane Fraser.。Subsequently, Citigroup, Bank of America and Wells Fargo pledged $5 billion in uninsured deposits, and JPMorgan Chase agreed to inject $5 billion into their capital.。The $20 billion injection was supposed to be enough, but the four banks decided to seek more capital from smaller rivals on Wednesday and Thursday。Including Bank of America, Truist Financial, PNC, State Street and Bank of New York Mellon also agreed to deposit $1 billion each.。According to people familiar with the matter, the last to join the injection were Goldman Sachs and Morgan Stanley, who each agreed to deposit $2.5 billion。"Over the past five days, a lot of deposits have flowed into the big banks," said one person familiar with the matter.。"The move by the CEO of Komo to rescue Wall Street this time by rallying the major banks to rescue First Republic Bank has put Dimon at the center of a national banking crisis once again in 15 years.。In 2008, Dimon acted twice to help stabilize the financial system, first when JPMorgan Chase acquired Bear Stearns, a New York investment bank, in March 2008, with $29 billion in federal support, followed by a second acquisition of Seattle-based Washington Mutual in September 2008.。In the case of Washington Mutual, JPMorgan bought its business after regulators took over Seattle Savings Bank。It is still the biggest bank failure in U.S. history.。With these two historic deals, JPMorgan became the largest coastal bank in the United States and gave it a stronger presence on Wall Street.。But in contrast, these acquisitions have also saddled Xiaomo with years of legal and regulatory challenges.。Dimon has said he wouldn't be in the position to buy Bear Stearns for these reasons if he could do it all over again.。Shares in First Republic Bank were boosted by a $30 billion capital injection announced on Thursday, and the stock closed the day up 10%。Powell, Yellen and Grunberg said in a joint statement that "this approach of a direct hand from a group of large banks is most welcome because it demonstrates the resilience of the banking system."。As part of the deal, JPMorgan didn't get any special arrangements, according to a person familiar with the matter.。"These deposits will be treated in exactly the same way as any uninsured deposit," the person said.。Deposits must stay at First Republic Bank for 120 days and earn interest at the same rate as current depositors。

On Thursday, Credit Suisse said it would take action to shore up its finances.。Specifically, Credit Suisse will borrow 50 billion francs ($53.7 billion) from the SNB liquidity facility.。

Yesterday (March 13) evening, HSBC Holdings announced that its UK segregated banking subsidiary HSBC UK Bank plc will acquire Silicon Valley Bank UK Limited (SVB UK Silicon Valley Bank UK) for a consideration of £1.。The assets and liabilities of the parent company of SVB UK are not included in this transaction.。The transaction is completed immediately and the acquisition will be funded from its own funds.。