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After a week of global banking turmoil, what's next?

People walk by the New York headquarters of Credit Suisse in New York City.
People walk by the New York headquarters of Credit Suisse in New York City.

Global banks have suffered the worst week since 2008.

The past10 days saw the collapses of Silicon Valley Bank and Signature Bankin the U.S. Andon Sunday, the Swiss megabank Credit Suissewas taken over by UBS, another Swiss bank, in an effort tocalmtheglobalbanking turmoil.

UBS paid more than $3 billion for Credit Suisse, which had been worth $96 billion in 2007.

So, what can we expect this week? One meeting to pay attention to – the Federal Reserve will announce new interest rates on Wednesday.  

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Maya Garg