The global banking turmoil explained; what’s happening at SVB, Credit Suisse
2 years ago

The global banking turmoil explained; what’s happening at SVB, Credit Suisse

Live Mint  

It all started on 10 March, 2023 after Startup-focused lender SVB Financial Group became the largest bank failure since the financial crisis, in a sudden collapse that roiled global markets and stranded billions of dollars belonging to companies and investors. At least four major banks, including Societe Generale and Deutsche Bank, are restricting new trades involving Credit Suisse or its securities, five sources told Reuters. US President Joe Biden said on Friday that the banking crisis has calmed down after the recent collapse of Silicon Valley Bank and Signature Bank. European Central Bank supervisors, in an unscheduled meeting, saw no contagion to euro zone banks from the market turmoil that has engulfed Credit Suisse and some US lenders, a source told Reuters. Speaking on impact on India, Reserve Bank Governor Shaktikanta Das cautioned banks against any excessive mismatches in their asset-liabilities front, saying both are detrimental to financial stability, which is evident from the ongoing crisis in the US banking sector where two mid-sized banks went belly up last week.

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History of this topic

Motilal Oswal prefers private banks over public sector lenders. Here’s why
1 week, 2 days ago

Motilal Oswal prefers private banks over public sector lenders. Here’s why

Live Mint  

FY25 has proven to be a difficult year for the banking sector, with the Bank Nifty index delivering a return of 2.6 per cent compared to the Nifty 50’s modest 0.8 per cent gain. However, MOSL expects this trend to reverse over FY25-27, with PVBs’ earnings growth outstripping that of PSBs, reinforcing its preference for private lenders. Private Banks: Mixed …

Ex-Credit Suisse Bankers Use Niche Funds to Target Debt Swaps
2 months, 1 week ago

Ex-Credit Suisse Bankers Use Niche Funds to Target Debt Swaps

Live Mint  

-- In a small but lucrative corner of the market for structured credit products, boutique funds run by former Credit Suisse executives are making rapid inroads. Issa said that after holding senior structured credit positions at both Credit Suisse and UBS Group AG, his new setup at Enosis allows his small team to operate in ways that can be “more …

ICICI Bank shines brightly despite sector struggles, defying resignation sentiment
4 months, 3 weeks ago

ICICI Bank shines brightly despite sector struggles, defying resignation sentiment

Live Mint  

Despite a challenging economic environment, banks are seeing some relief in deposit growth, with four of the top five private sector banks reporting deposit growth outpacing credit growth in Q2. However, this growth comes at a price, with banks facing higher funding costs due to rising interest rates. Additionally, HDFC Bank's NIM has declined to 3.46% from 3.47%, indicating a …

Why this class of companies is waiting for more corporate failures
6 months, 3 weeks ago

Why this class of companies is waiting for more corporate failures

Live Mint  

Mumbai: On a humid evening in May, a group of executives from various asset reconstruction companies gathered at the ballroom of hotel President in Cuffe Parade, Mumbai. The third and more recent challenge is the advent of India’s so-called bad bank, the state-owned National Asset Reconstruction Company Ltd. As a rule, the industry thrives when the level of corporate non-performing …

Switzerland lays out new ‘too big to fail’ rules in wake of Credit Suisse banking turmoil last year
11 months, 2 weeks ago

Switzerland lays out new ‘too big to fail’ rules in wake of Credit Suisse banking turmoil last year

Associated Press  

GENEVA — The Swiss government Wednesday announced steps to bolster its “too big to fail” rules aimed at avoiding potentially disastrous fallout from banking sector turmoil after woes last year at Credit Suisse before it was taken over by rival UBS. Finance Minister Karin Keller-Sutter told reporters that the measures will aim to protect taxpayers — who were briefly on …

If One Megabank Collapses, the US Economy Goes With It. Should We Have More?
1 year ago

If One Megabank Collapses, the US Economy Goes With It. Should We Have More?

Politico  

And the government has so far taken a more or less incoherent position on what it would like the banking system to look like in another 15 years. “You need to have a view of where the industry is headed in order to come up with wise decisions on blocking or permitting a particular merger,” said Daniel Tarullo, who wrote …

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe
1 year, 1 month ago

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe

Daily Mail  

Regional banks are doomed. BEWARE THE COMING REAL ESTATE IMPLOSION New York Community Bancorp made more headlines this week after reporting a surprise loss of $252 million on its commercial real estate loan portfolio in the fourth quarter of 2023 alone. Considering that small firms reportedly hold nearly 70 percent of $2.7 trillion in outstanding commercial real estate loans, it's …

Credit Suisse crisis: UBS Chairman points at failure of board, management
1 year, 2 months ago

Credit Suisse crisis: UBS Chairman points at failure of board, management

Live Mint  

UBS Chairman Colm Kelleher launched a scathing attack on Credit Suisse, blaming its recent woes on leadership failures at all levels. UBS's return on equity may be higher than currently expected once the integration of its former rival, Credit Suisse, has been completed, its chairman said on January 17. Kelleher indicated his support for increased regulation in UBS's home market, …

Small finance, payments banks growing sustainably: Experts at Mint BFSI Summit
1 year, 2 months ago

Small finance, payments banks growing sustainably: Experts at Mint BFSI Summit

Live Mint  

New Delhi: Small finance banks and payments banks, constituted under the differentiated banking license policy of the Reserve Bank of India, have seen sustainable growth throughout their existence, industry experts said at the Mint BFSI Summit and Awards 2024 on Thursday. That means they have touched the lives of 100 million Indians, or 7% of the population, in under seven …

Big bank CEOs warn that new regulations may severely impact economy
1 year, 3 months ago

Big bank CEOs warn that new regulations may severely impact economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The CEOs of JPMorgan Chase, …

CEOs of the nation’s biggest banks warn that new regulations could harm the economy
1 year, 3 months ago

CEOs of the nation’s biggest banks warn that new regulations could harm the economy

Associated Press  

NEW YORK — The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the new proposals could negatively impact the economy at a time of geopolitical turmoil and inflation. Whereas in previous years the bank CEOs used …

Need To Strengthen Regulation Of Financial Institutions After US Bank Failures: Fed Chair Jerome Powell
1 year, 9 months ago

Need To Strengthen Regulation Of Financial Institutions After US Bank Failures: Fed Chair Jerome Powell

ABP News  

The US Federal Reserve Chair Jerome Powell said on Thursday that there is a need to strengthen supervision and regulation of financial institutions in the wake of the failure of three large US banks earlier this year. Speaking at the Banco de Espana Fourth Conference on Financial Stability in Madrid, Powell said that the bank runs and failures in 2023 …

Indian economy makes solid recovery despite global headwind: RBI Governor Das
1 year, 9 months ago

Indian economy makes solid recovery despite global headwind: RBI Governor Das

The Hindu  

Reserve Bank Governor Shaktikanta Das on June 28 said that the Indian economy has made a solid recovery and is among the fastest-growing large economies despite heightened uncertainties and formidable headwinds. The global financial system has been impacted by significant strains since early March 2023 from the banking turmoil in the U.S. and Europe. Since the last issue of the …

Swiss central bank urges review of 'too big to fail' bank safeguards after Credit Suisse debacle
1 year, 9 months ago

Swiss central bank urges review of 'too big to fail' bank safeguards after Credit Suisse debacle

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Switzerland's central bank said the …

Swiss central bank urges review of ‘too big to fail’ bank safeguards after Credit Suisse debacle
1 year, 9 months ago

Swiss central bank urges review of ‘too big to fail’ bank safeguards after Credit Suisse debacle

Associated Press  

FRANKFURT, Germany — Switzerland’s central bank said the government and regulators should carry out an in-depth review of rules aimed at preventing disastrous bank collapses, saying key guardrails failed to prevent Credit Suisse from needing to be rescued by Swiss competitor UBS. “Looking forward, the experience with Credit Suisse shows the need for a review of the TBTF framework in …

UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil
1 year, 9 months ago

UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil

Associated Press  

BERLIN — UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil. A statement from the bank said that “UBS …

Former SVB CEO Greg Becker to Apologize for Bank Collapse
1 year, 10 months ago

Former SVB CEO Greg Becker to Apologize for Bank Collapse

Live Mint  

Former Silicon Valley Bank chief executive Greg Becker plans to tell a Senate committee on Tuesday that no bank could have survived the unprecedented deposit run that led to his institution’s failure in March. Mr. Becker hasn’t spoken publicly since regulators seized SVB two months ago, after a failed capital raise and historic deposit run doomed the startup- and technology-focused …

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse
1 year, 10 months ago

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse

Live Mint  

Goldman Sachs' is facing the scrutiny of US authorities over its work with Silicon Valley Bank and its connection with the events that led to the collapse of the California bank. Goldman Sachs is fully cooperating with the ongoing investigation by US authorities and providing all the required information various government bodies, the financial institution said in its stock exchange …

The banking crisis isn’t over. But how bad will it get?
1 year, 10 months ago

The banking crisis isn’t over. But how bad will it get?

Associated Press  

NEW YORK — Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers such as Jamie Dimon this week that the worst of the recent crisis is over and the health of the banking system remains strong. A renewed sell-off Thursday focused on PacWest Bancorp and Western Alliance Bancorp, two smaller regional banks whose shares have …

Banking crisis: Why markets are still freaking out about banks
1 year, 10 months ago

Banking crisis: Why markets are still freaking out about banks

CNN  

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. New York CNN — A summary of where things stand in the banking crisis: The Fed: “Banks are fine.” The Treasury: “Banks are fine.” The banks: “We’re fine.” Wall Street: “Everybody sell, the banks are on fire!” Here’s the deal: When Silicon Valley Bank crumbled on March …

Bank stocks continue to fall following First Republic demise
1 year, 10 months ago

Bank stocks continue to fall following First Republic demise

Associated Press  

NEW YORK — Regulators have barely written the epitaph for First Republic Bank, but investors on Wall Street have already moved onto speculating which bank might be the next to fail. Bank stocks fell sharply Tuesday, led downward by smaller banks with heavy exposure to uninsured deposits and commercial banks such as Western Alliance Bank, PacWest Bancorp, Comerica and Zions …

First Republic Bank sold to JPMorgan Chase: What you need to know
1 year, 10 months ago

First Republic Bank sold to JPMorgan Chase: What you need to know

Firstpost  

The federal government seized First Republic Bank and sold it to JPMorgan Chase on Monday, ending the lender’s six-week-long free fall and reassuring depositors that their money is safe. First Republic Bank’s failure had much the same roots as the collapses of Silicon Valley Bank and Signature Bank — spooked depositors and investors pulling their money and selling their shares …

Bank stocks continue to fall following First Republic demise
1 year, 10 months ago

Bank stocks continue to fall following First Republic demise

LA Times  

Comerica is among the regional bank stocks wobbling Tuesday in the wake of regulators closing First Republic Bank and selling the vast majority of its operations to JPMorgan Chase in a fire sale. Bank stocks fell sharply Tuesday, led downward by smaller banks with heavy exposure to uninsured deposits and commercial banks such as Western Alliance Bank, PacWest Bancorp, Comerica …

Why First Republic failed. Are other banks to follow?
1 year, 10 months ago

Why First Republic failed. Are other banks to follow?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy First Republic Bank has become …

US regulators seize California's First Republic in latest banking failure
1 year, 10 months ago

US regulators seize California's First Republic in latest banking failure

Raw Story  

US financial authorities have taken possession of California's troubled First Republic Bank, which will be acquired by JPMorgan Chase, government regulators announced Monday in the latest banking failure. "To protect depositors, the FDIC is entering into a purchase and assumption agreement with JPMorgan Chase Bank, National Association, Columbus, Ohio, to assume all of the deposits and substantially all of the …

US Regulators Seize Assets Of First Republic Bank, To Be Sold To JPMorgan
1 year, 10 months ago

US Regulators Seize Assets Of First Republic Bank, To Be Sold To JPMorgan

ABP News  

First Republic Bank's assets were taken over by the US regulators and will be acquired by JPMorgan Chase after rescue efforts failed to undo the damage from wrong-way investments and depositor runs that have roiled regional lenders, news agency Bloomberg reported on Monday. BREAKING: First Republic Bank has officially been closed by regulators, making it the second biggest bank failure …

Regulators seize First Republic Bank, sell to JPMorgan Chase
1 year, 10 months ago

Regulators seize First Republic Bank, sell to JPMorgan Chase

The Hindu  

Regulators seized troubled First Republic Bank early on May 1 and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. The Federal Deposit Insurance Corporation said early on May …

Opinion: It’s not just First Republic that failed. It’s the whole banking system
1 year, 10 months ago

Opinion: It’s not just First Republic that failed. It’s the whole banking system

LA Times  

First Republic Bank became the second-biggest bank failure in U.S. history after the lender was seized by the Federal Deposit Insurance Corp. and sold to JPMorgan Chase on Monday. The collapse of Silicon Valley Bank and now First Republic underscores how the effect of risky decisions at one bank can quickly spread into the broader financial system. At Silicon Valley …

Why First Republic Bank may not be the end of the crisis
1 year, 10 months ago

Why First Republic Bank may not be the end of the crisis

CNN  

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. The three banks — Silicon Valley Bank, Signature, and First Republic — all had particularly jittery customers with high levels of uninsured funds. I spoke to Robert Hockett, a law professor and expert on public finance at Cornell University, for the decidedly less sunny take: “Contrary to …

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse
1 year, 11 months ago

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse

Live Mint  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have learned," Federal Reserve vice chair for supervision Michael Barr wrote in …

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report
1 year, 11 months ago

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report

News 18  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. “Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation based on what we have learned,” Federal Reserve vice chair for supervision Michael Barr wrote in …

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse
1 year, 11 months ago

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse

Hindustan Times  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. US Federal Reserve admits to failings in Silicon Valley Bank oversight "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have …

US regulators vow stiffer oversight after SVB, Signature failures
1 year, 11 months ago

US regulators vow stiffer oversight after SVB, Signature failures

Al Jazeera  

Regulators said banks’ managers were primarily to blame for prioritising growth and ignoring basic risks. “SVB’s failure demonstrates that there are weaknesses in regulation and supervision that must be addressed,” Barr said in a letter accompanying a 114-page report supplemented by confidential materials that are typically not made public. “Our experience following SVB’s failure demonstrated that it is appropriate to …

Fed autopsy on SVB faults bank’s management — and its own oversight
1 year, 11 months ago

Fed autopsy on SVB faults bank’s management — and its own oversight

CNN  

New York CNN Business — In a hotly anticipated banking report released Friday morning, the Federal Reserve said it failed to take sufficient action to prevent the collapse of Silicon Valley Bank, while detailing serious management oversights by the lender’s executives. The Fed, which is SVB’s primary regulator, took responsibility for its own lapses, saying that supervisors “did not fully …

British banks to give first financial updates since global banking crisis fears
1 year, 11 months ago

British banks to give first financial updates since global banking crisis fears

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s biggest banks are preparing …

How the failure of Silicon Valley Bank might have affected the entire financial system
1 year, 11 months ago

How the failure of Silicon Valley Bank might have affected the entire financial system

Firstpost  

Research suggests that a run-on deposits at Silicon Valley Bank and Signature Bank could have set off a cascading series of bank failures, crippling small businesses and economic activity across wide parts of the country Washington: The federal government’s rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Biden administration and …

The SVB murder mystery echoes a famous Agatha Christie novel
1 year, 11 months ago

The SVB murder mystery echoes a famous Agatha Christie novel

Live Mint  

When a banking crisis erupted in early March, pundits rushed to the battlements, or at least to their studies, to hammer out newspaper columns assigning blame. While their counterparts at other banks had returned to the office, work from home remained the norm for SVB’s key managers, who were spread across six time zones, from Hawaii to the US East …

Profits at big US banks show few signs of industry distress
1 year, 11 months ago

Profits at big US banks show few signs of industry distress

Associated Press  

NEW YORK — The nation’s largest banks appear to be weathering the current turmoil in their industry just fine. Despite a pair of historical failures last month that put the nation’s banking industry into crisis mode, the nation’s biggest banks posted strong profits last quarter, helped by higher interest rates and a U.S. economy that keeps growing and adding jobs …

Profits at big US banks show few signs of industry distress
1 year, 11 months ago

Profits at big US banks show few signs of industry distress

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Despite a pair of historical …

Swiss lawmakers pick apart Credit Suisse woes ahead of deal
1 year, 11 months ago

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

Associated Press  

GENEVA — Switzerland’s parliament opened a special session Tuesday to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS — and consider strengthening the legal arsenal to better gird against financial blowups. Johanna Gapany, a centrist lawmaker and rapporteur for the upper chamber’s finance commission, said the parliamentary panel had made three main proposals: change competition rules …

Swiss lawmakers pick apart Credit Suisse woes ahead of deal
1 year, 11 months ago

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Switzerland’s parliament is opening a …

Swiss regulators defend rescue of Credit Suisse via UBS deal
1 year, 11 months ago

Swiss regulators defend rescue of Credit Suisse via UBS deal

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The head of the Swiss …

JPMorgan’s Jamie Dimon warns banking crisis will be felt for ‘years to come’
1 year, 11 months ago

JPMorgan’s Jamie Dimon warns banking crisis will be felt for ‘years to come’

CNN  

New York CNN — The banking crisis triggered by the recent collapses of Silicon Valley Bank and Signature Bank is not over yet and will ripple through the economy for years to come, said JPMorgan Chase CEO Jamie Dimon on Tuesday. In a note last month, Wells Fargo banking analyst Mike Mayo wrote “Goliath is winning.” JPMorgan in particular, he …

Balancing act: Why central banks are cautious after bank crisis
1 year, 11 months ago

Balancing act: Why central banks are cautious after bank crisis

Al Jazeera  

Central banks are seen treading carefully following the sudden collapses of Silicon Valley Bank and Credit Suisse. The sudden collapses of Silicon Valley Bank and Signature Bank in the United States and Credit Suisse in Europe were blamed, in part, on rapidly rising interest rates. The banking sector’s woes highlight the delicate balance facing central banks as they seek to …

Credit Suisse takeover hits heart of Swiss banking, identity
1 year, 11 months ago

Credit Suisse takeover hits heart of Swiss banking, identity

Associated Press  

GENEVA — The UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center, analysts say, warning that the country’s prosperity could grow too dependent on a single banking behemoth. “The danger is that over time, it will take more risks knowing that it is too big for the Swiss state …

UBS brings back former CEO with Credit Suisse deal ahead
2 years ago

UBS brings back former CEO with Credit Suisse deal ahead

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

US regulators to consider SVB oversight failures in upcoming reports
2 years ago

US regulators to consider SVB oversight failures in upcoming reports

Firstpost  

The Federal Deposit Insurance Corporation will launch an examination of the deposit insurance system in light of the decision by regulators to make uninsured depositors whole after SVB’s collapse, FDIC Chair Michael Gruenberg told the Senate Banking Committee Washington: US regulators overseeing Silicon Valley Bank’s rapid collapse earlier this month confirmed Tuesday that they will consider any failings they may …

Fed official: Bank rules under review in wake of SVB failure
2 years ago

Fed official: Bank rules under review in wake of SVB failure

Associated Press  

WASHINGTON — The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said Tuesday, but its managers failed to take the steps necessary to fix the problems. The Fed official, Michael Barr, the nation’s top banking regulator, said during a Senate …

‘Silicon Valley Bank collapse fastest since Barings’ – Bank of England chief
2 years ago

‘Silicon Valley Bank collapse fastest since Barings’ – Bank of England chief

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The collapse of Silicon Valley …

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down
2 years ago

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down

The Quint  

Silicon Valley Bank failure, and the massive contagion it sparked, look like a classic banking run. The response from the US Treasury and the US Federal Reserve—which applied nineteenth-century British economist Walter Bagehot’s principle that, to stem panic, a lender of last resort is needed—also looks quite familiar. First, in 2008, the worry about collapse was so intense that a …

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