US authorities rush to contain Silicon Valley Bank fallout; President Joe Biden vows to fix 'this mess'
1 year, 9 months ago

US authorities rush to contain Silicon Valley Bank fallout; President Joe Biden vows to fix 'this mess'

Firstpost  

In a joint statement, financial agencies including the US Treasury said SVB depositors would have access to ‘all of their money’ starting Monday, 13 March, and that American taxpayers will not have to foot the bill Washington, United States: US authorities unveiled sweeping measures Sunday to rescue depositors’ money in full from failed Silicon Valley Bank and to promise other institutions’ help in meeting customers’ needs, as they announced a second tech-friendly bank had been closed by regulators. In a joint statement, financial agencies including the US Treasury said SVB depositors would have access to “all of their money” starting Monday, 13 March, and that American taxpayers will not have to foot the bill. The Fed, the Federal Deposit Insurance Corporation and Treasury said in their statement that depositors in Signature Bank, a New York-based regional-size lender with significant cryptocurrency exposure which was shuttered on Sunday after its stock price tanked, would also be “made whole.” And in a potentially major development, the Fed announced it would make extra funding available to banks to help them meet the needs of depositors, which would include withdrawals. Hours before Sunday’s joint statement, Treasury Secretary Janet Yellen said the government wants to avoid financial “contagion” from the SVB implosion, as it ruled out a bailout.

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History of this topic

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
10 months, 1 week 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 …

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

Big bank CEOs warn that new regulations may severely impact economy
1 year 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, …

Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them
1 year, 7 months ago

Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them

Associated Press  

NEW YORK — Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, instead using their time to assign blame to events they said were largely out of their control. Greg Becker, Silicon Valley Bank’s former CEO, took the brunt of the criticism from committee members, although …

Heads of failed banks refuse to accept blame, defend their pay and bonuses
1 year, 7 months ago

Heads of failed banks refuse to accept blame, defend their pay and bonuses

LA Times  

Gregory Becker, left, former CEO of Silicon Valley Bank, testifies with Scott Shay, former chairman and co-founder of Signature Bank, and Eric Howell, former president of Signature Bank, during a Senate hearing on Capitol Hill on Tuesday. Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, …

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse
1 year, 7 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 …

Biden says bank system ‘safe’ after JPMorgan buys First Republic
1 year, 7 months ago

Biden says bank system ‘safe’ after JPMorgan buys First Republic

Al Jazeera  

US president offers assurances after California-based lender becomes third major institution to fail in two months. US President Joe Biden has sought to reassure Americans that the United States banking system is “safe and sound”, after regulators seized California’s troubled First Republic Bank and sold it to JPMorgan Chase in hopes of ending a two-month crisis. The deal, announced early …

First Republic: Cheap, interest-only jumbo mortgages to Silicon Valley’s elite fueled the bank’s failure
1 year, 7 months ago

First Republic: Cheap, interest-only jumbo mortgages to Silicon Valley’s elite fueled the bank’s failure

LA Times  

Jumbo mortgages on Silicon Valley homes compounded the troubles of First Republic Bank, which regulators seized. The seeds of First Republic Bank’s downfall were sown in the jumbo mortgages of Silicon Valley, where a unique strategy to loan wealthy individuals extraordinary sums of money blew up in spectacular fashion. On March 16, as panic spread across regional banks in the …

Fed faults Silicon Valley Bank execs, itself in bank failure
1 year, 7 months ago

Fed faults Silicon Valley Bank execs, itself in bank failure

Associated Press  

WASHINGTON — The Federal Reserve blamed last month’s collapse of Silicon Valley Bank on poor management, watered-down regulations and lax oversight by its own staffers, and said the industry needs stricter policing on multiple fronts to prevent future bank failures. “While higher supervisory and regulatory requirements may not have prevented the firm’s failure, they would likely have bolstered the resilience …

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse
1 year, 7 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, 7 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 …

Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says
1 year, 7 months ago

Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says

Huff Post  

LOADING ERROR LOADING WASHINGTON ― After the failure of Silicon Valley Bank in March, Senate Banking Committee member Sen. John Kennedy asked on the Senate floor, “Where were the regulators?” On Friday, the regulators responded ― with a reminder that Kennedy and other lawmakers told them to go easy on institutions like Silicon Valley Bank. In a lengthy and highly …

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse
1 year, 7 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 …

Regulators to Publish Postmortems on Silicon Valley Bank, Signature Failures
1 year, 7 months ago

Regulators to Publish Postmortems on Silicon Valley Bank, Signature Failures

Live Mint  

Washington regulators plan to release postmortems of their oversight of Silicon Valley Bank and Signature Bank before they abruptly collapsed last month, potentially highlighting missteps by both banks’ management and their federal supervisors. FDIC Chairman Martin Gruenberg recently said that banks with large amounts of uninsured deposits face challenges, “particularly in today’s environment where money can flow out of institutions …

Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent
1 year, 8 months ago

Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent

LA Times  

The collapse of Silicon Valley Bank raised questions anew about how and whether to bail out failed financial institutions. As investment manager and financial commentator Barry Ritholtz observed in his 2009 book “Bailout Nation,” the proper solution to the banking crisis was obvious: “Put the insolvent banks into FDIC receivership, fire management. “First,” he wrote, “there is something inherently unjust …

How the failure of Silicon Valley Bank might have affected the entire financial system
1 year, 8 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 …

Profits at big US banks show few signs of industry distress
1 year, 8 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 …

Biden calls to revive bank regulations that Trump weakened
1 year, 8 months ago

Biden calls to revive bank regulations that Trump weakened

Associated Press  

WASHINGTON — Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress. The recommended changes outlined by the White House try to put a clear blame on the Trump administration for …

White House skirts Congress to push new regional bank rules
1 year, 8 months ago

White House skirts Congress to push new regional bank rules

Daily Mail  

The Biden administration proposed a list of new bank measures Thursday that it says can be done without the help of Congress and will reverse some of the regulatory rollbacks made during the Trump-era. The White House said it would like to see midsized banks hold more liquid assets, increase their capital, submit to regular stress tests and write 'living …

Biden urges US regulators to restore strict rules on midsize banks
1 year, 8 months ago

Biden urges US regulators to restore strict rules on midsize banks

Hindustan Times  

President Joe Biden called on US banking regulators on Thursday to reinstate tougher rules on midsized banks, asserting that the measures would prevent future failures like that of Silicon Valley Bank. Pointing a finger at predecessor Donald Trump, who eased rules for banks between $100 and $250 billion in assets, Biden urged regulators at the Federal Reserve and Federal Deposit …

Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses
1 year, 8 months ago

Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses

The Hindu  

Silicon Valley Bank has gone belly-up as has the Signature Bank in the U.S. in the last few weeks. Click to remove AMP mode Charts 1A and 1B show the extent of the unrealised losses that Silicon Valley Bank and First Republic Bank have been making of late as a result of a dramatic fall in bond values. In fact, …

US regulators to consider SVB oversight failures in upcoming reports
1 year, 8 months 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
1 year, 8 months 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 …

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down
1 year, 8 months 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 …

Collapsed Silicon Valley Bank sold to US rival First Citizens
1 year, 8 months ago

Collapsed Silicon Valley Bank sold to US rival First Citizens

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 Citizens Bank has bought …

First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know
1 year, 8 months ago

First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know

Live Mint  

The US-based First Citizens BancShares Inc. has reached an agreement to acquire Silicon Valley Bank, which was taken over by regulators after a wave of withdrawals from the lender. The acquisition will expand First Citizens' presence in the technology and innovation hub of Silicon Valley, and will make it one of the largest banks in the US. Earlier this month, …

Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank
1 year, 8 months ago

Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank

India TV News  

SBV Crisis: North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world. Shares in mid-sized San Francisco-based First Republic Bank, which serves a similar clientele as Silicon Valley Bank and had appeared to be facing a similar crisis, surged 24.3% in …

Bank failures and rescue test Yellen’s decades of experience
1 year, 8 months ago

Bank failures and rescue test Yellen’s decades of experience

Associated Press  

WASHINGTON — Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the U.S. economy. Yellen spent that crucial period two weeks ago assembling Federal Reserve officials; regulators at the Federal Deposit Insurance Corp. and the Office of the Comptroller of …

Bank failures and rescue test Yellen's decades of experience
1 year, 8 months ago

Bank failures and rescue test Yellen's decades of experience

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. Yellen spent that crucial period …

Biden says U.S. banks are in good shape, turmoil will ease
1 year, 9 months ago

Biden says U.S. banks are in good shape, turmoil will ease

LA Times  

Regulators are still working to stabilize the banking sector after the collapse of Silicon Valley Bank and Signature Bank. President Biden said he was confident U.S. regional banks were in good shape and didn’t foresee any major crises on the horizon, downplaying Wall Street angst and lingering fears of broader financial turmoil. Business Everything to know about Silicon Valley Bank’s …

Yellen says US prepared to take more action to keep bank deposits safe
1 year, 9 months ago

Yellen says US prepared to take more action to keep bank deposits safe

Live Mint  

US Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further action to ensure that Americans' bank deposits stay safe amid turmoil in the banking system. "As I have said, we have used important tools to act quickly to prevent contagion," Yellen said in remarks to the U.S. House of Representatives Appropriations subcommittee hearing. Separately on …

How safe is my money in a US bank, and what happened with SVB depositors?
1 year, 9 months ago

How safe is my money in a US bank, and what happened with SVB depositors?

Live Mint  

In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. government backstopping all deposits at those firms, here is the state of play …

Column: The Fed’s anti-inflation work is almost done, with an assist from the banking crisis
1 year, 9 months ago

Column: The Fed’s anti-inflation work is almost done, with an assist from the banking crisis

LA Times  

The Federal Reserve Board may owe the banking crisis a thank-you note. — Joseph Brusuelas, RSM Long before Wednesday’s meeting of the Fed’s rate-setting open market committee, however, some experts were urging that the central bank pause and take time to assess how the prior rate hikes were affecting inflation and economic growth. Fed-watchers, who parse the central bank’s statements …

Silicon Valley Bank's parent company cut off from bank's records
1 year, 9 months ago

Silicon Valley Bank's parent company cut off from bank's records

Firstpost  

SVB Financial, the bankrupt parent company of Silicon Valley Bank, has lost access to its financial records after the bank was placed into receivership by the Federal Deposit Insurance Corporation, according to court documents filed in Manhattan on Sunday. But its Chapter 11 bankruptcy has gotten off to a “challenging” start due to a breakdown in cooperation with the bridge …

FDIC said to move toward breakup plan for Silicon Valley Bank
1 year, 9 months ago

FDIC said to move toward breakup plan for Silicon Valley Bank

Live Mint  

US regulators are moving toward a breakup solution for Silicon Valley Bank after failing to line up a suitable buyer for the entire company, according to people familiar with the matter. The Federal Deposit Insurance Corp. is now seeking to sell the failed bank in at least two parts, said the people, who asked to not be identified because the …

Silicon Valley and Credit Suisse weigh heavily as Bank of England considers interest rate rise
1 year, 9 months ago

Silicon Valley and Credit Suisse weigh heavily as Bank of England considers interest rate rise

The Telegraph  

“The recent disruption highlights the financial stability spillovers associated with an especially aggressive hiking cycle,” says Benjamin Nabarro at Citi. And when financial markets are volatile, you have to be sensitive to those risks.” Economists at Goldman Sachs believe the tightening of financial conditions in the US is already the equivalent of a 0.5 percentage point interest rate rise Some …

Silicon Valley Bank’s demise animates early days of California’s 2024 U.S. Senate contest
1 year, 9 months ago

Silicon Valley Bank’s demise animates early days of California’s 2024 U.S. Senate contest

LA Times  

With a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts. For the record: An earlier version of this story misquoted Rep. Adam Schiff saying, “The economic issues and the democracy issues are …

The global banking turmoil explained; what’s happening at SVB, Credit Suisse
1 year, 9 months 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 …

What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast
1 year, 9 months ago

What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast

The Hindu  

Last week, California-based Silicon Valley Bank, the 16th largest bank in the United States, collapsed, sending shock waves through the start-up universe. The Biden administration has announced that all the depositors’ savings in the Silicon Valley Bank will be protected, including those deposits over and above the sums that are insured. The Federal Reserve, on its part, has unveiled a …

Explained | What’s next for Silicon Valley Bank?
1 year, 9 months ago

Explained | What’s next for Silicon Valley Bank?

The Hindu  

The story so far: The collapse of the California-headquartered Silicon Valley Bank in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. This morning, the Government and the Bank of England facilitated a private sale …

Will Americans end up footing the bill for bank failures?
1 year, 9 months ago

Will Americans end up footing the bill for bank failures?

LA Times  

The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. Here are some questions and answers about the cost of the bank collapses: Business Everything to know about Silicon Valley Bank’s spectacular collapse Silicon Valley Bank failed late last week, prompting fears of wider upheaval. “That’s far more significant than the modest …

Yellen declares bank system sound, as new rescues ordered
1 year, 9 months ago

Yellen declares bank system sound, as new rescues ordered

Associated Press  

WASHINGTON — Treasury Secretary Janet Yellen offered firm, upbeat reassurances to rattled bank depositors and investors Thursday, even as American financial institutions and European agencies ordered fresh rescue efforts following the second-largest bank collapse in U.S. history. The Treasury secretary was the first administration official to face lawmakers over the decision to protect uninsured money at the two failed regional …

Treasury Secretary Yellen Tells Congress U.S. Banking System 'Remains Sound'
1 year, 9 months ago

Treasury Secretary Yellen Tells Congress U.S. Banking System 'Remains Sound'

Huff Post  

LOADING ERROR LOADING WASHINGTON — A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen told the Senate Finance Committee on Thursday that the nation’s banking system “remains sound” and Americans “can feel confident” about their deposits. Yellen was the first Biden administration official to face lawmakers over the decision to protect uninsured money at two …

Wall Street giants rescue US bank First Republic in $30bn deal
1 year, 9 months ago

Wall Street giants rescue US bank First Republic in $30bn deal

The Telegraph  

A group of Wall Street’s largest lenders on Thursday propped up crisis-hit Californian lender First Republic in a $30bn deal, as the fallout from the collapse of SVB continued. The banks said in a statement: “This action by America’s largest banks reflects their confidence in First Republic and in banks of all sizes.” Emergency talks were convened by the US …

Silicon Valley Bank Was Not Your Bank
1 year, 9 months ago

Silicon Valley Bank Was Not Your Bank

Slate  

Silicon Valley Bank exploded last Friday, leaving the kind of wreckage that is only possible when people in charge of a financial institution blow it epically. Then inflation became a big thing, and the Federal Reserve raised interest rates, and suddenly SVB’s bond holdings were less valuable, because they were earning interest at lower rates than investors could get elsewhere. …

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…
1 year, 9 months ago

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…

Hindustan Times  

Silicon Valley Bank, a major depository to tech companies and startups, went bankrupt on Friday, leaving depositors scrambling for their money. Impact of Silicon Valley Bank collapse on Indian financial sector "Indian financial system could get impacted if the exporters who are dependent on US market start seeing slowdown in their businesses and that would impact job growth and ability …

Silicon Valley Bank Collapse: How Washington ended up rescuing US banks
1 year, 9 months ago

Silicon Valley Bank Collapse: How Washington ended up rescuing US banks

Firstpost  

Washington: After the sudden collapse of Silicon Valley Bank, California Democratic Representative Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp officials told Republican senators Monday that they received offers for the bank over the weekend but didn’t …

How Washington came to rescue US banks
1 year, 9 months ago

How Washington came to rescue US banks

Associated Press  

WASHINGTON — After the sudden collapse of Silicon Valley Bank, California Democratic Rep. Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp. officials told Republican senators Monday that they received offers for the bank over the weekend but …

Silicon Valley Bank collapse: 96 hours after biggest US bank failure in 15 years
1 year, 9 months ago

Silicon Valley Bank collapse: 96 hours after biggest US bank failure in 15 years

Hindustan Times  

The U.S. government launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank, the largest bank collapse since the 2008 financial crisis. THURSDAY, MARCH 9 As U.S. Treasury Secretary Janet Yellen prepares for a Friday hearing before the Republican-controlled House Ways and Means Committee, investors are raising concerns about a …

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse
1 year, 9 months ago

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse

Live Mint  

The revised outlook of Moody's Investors on the US banking system to ‘negative’ from ‘stable’ has further increased the market chaos that emerged as the after-effect of Silicon Valley Bank's collapse in the economy. From crashing global oil prices to falling currencies, the bank runs at Silicon Valley Bank, Silvergate Capital Corp, and Signature Bank have begun a cycle of …

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