BLOOMBERG A coalition of midsize US banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilise the banking sector and greatly reduce chances of more bank failures,” the …

BLOOMBERG Deutsche Bank AG’s global head of foreign exchange sales Hans Ephraimson is leaving after more than three decades at the German lender. A successor will be announced shortly and Ephraimson will “facilitate a smooth transition” of his responsibilities, according to an internal memo seen by Bloomberg News. There was no mention of a reason behind Ephraimson’s exit. A Deutsche …

BLOOMBERG Michael Klein, the CEO-designate of Credit Suisse Group AG’s investment-banking spin off, may struggle to realise his dream of building a new CS First Boston as the Swiss lender nears a forced sale to UBS Group AG. UBS is showing little appetite for Credit Suisse’s investment banking business as part of a government-brokered takeover, putting plans to legally and …