Recent banking industry turmoil following the collapse of Silicon Valley Bank raised worries about a flight of deposits, but that was seen as more of a concern for midsized lenders.

Already jittery investors have been in panic mode since the collapse of two regional US banks over the weekend sparked a sell-off across equities and ramped up concerns of a global recession.

Bank shares initially tumbled on the reports, but reversed course in the middle of the session.

Potential homebuyers have been reluctant to ink new deals in recent months because of uncertainty generated by China's various anti-Covid measures, leading to a sharp decrease in home prices.

Banks are increasingly nervous about extending credit to small companies, as rising costs of debt, labour and raw materials put the business case of lending to such companies under unprecedented strain.

Differing opinions arise over the effect on inflation, access to credit and qualifications of Parliament to oversee the creation of money.

A former banker says such power should be given to the government under the authority of Parliament.

From using strong passwords to avoiding public WiFi networks, Malaysians are advised to up their game against scammers.

Recent economic indicators showed that the Chinese economy is in the doldrums, with the latest alarm bell a record surge in unemployment payouts for June.

Under the legislation, the Financial Conduct Authority regulator 'will be granted new powers' over Britain's biggest lenders to 'ensure that cash withdrawal and deposit facilities are available in communities across the country'.

Gathered virtually for the bank's general assembly, a full 59.95% of shareholders refused to release the management from personal liability for the year 2020.

The measures aim to hurt the Russian economy by cutting the 'correspondent' banking relationships between targeted Russian banks and US banks that enable international payments.