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 learned," Federal Reserve vice chair for supervision Michael Barr said in a statement accompanying the report. Barr said SVB's management failed to adequately manage risk prior to the bank's swift collapse, while Fed supervisors failed to take forceful enough action after they had identified issues at the Californmian high-tech lender. SVB's failure on March 10 after taking on too much interest-rate risk caused shock waves throughout the banking sector, and led to the failure of another regional US bank and the merger under pressure of Swiss investment banking giant Credit Suisse.

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History of this topic

Federal Reserve’s Powell: Regulatory proposal criticized by banks will be revised by end of year
9 months, 2 weeks ago

Federal Reserve’s Powell: Regulatory proposal criticized by banks will be revised by end of year

Associated Press  

WASHINGTON — A sweeping bank regulatory proposal will be significantly revised by year’s end, Federal Reserve Chair Jerome Powell said Thursday, a potential victory for the large banks that have aggressively opposed the likely changes. Large banks, though, have resisted the proposal, known as the “Basel III endgame” and spearheaded by the Fed’s vice chair for supervision, Michael Barr. On …

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, …

Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says
1 year, 5 months ago

Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says

CNN  

Washington, DC CNN — Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse. “We can raise this — and by ‘we’ I mean the system, not me because again, I don’t play an active role in supervision — …

Need To Strengthen Regulation Of Financial Institutions After US Bank Failures: Fed Chair Jerome Powell
1 year, 5 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 …

Federal Reserve Chair Powell hints at a pause in rate hikes when central bank meets next month
1 year, 7 months ago

Federal Reserve Chair Powell hints at a pause in rate hikes when central bank meets next month

Associated Press  

WASHINGTON — Chair Jerome Powell indicated Friday that the Federal Reserve will likely forgo an increase in its benchmark interest rate when it meets in June for the first time since it began raising its key rate 14 months ago to fight high inflation. Speaking at a Fed conference in Washington, Powell said the central bank’s benchmark rate, which affects …

California bank regulator finds own faults in bank’s demise
1 year, 7 months ago

California bank regulator finds own faults in bank’s demise

Associated Press  

NEW YORK — California’s bank regulator said Monday that it was too slow to see the growing risks at Silicon Valley Bank and did not act forcefully enough to get the bank to fix its problems. A report from the California Department of Financial Protection and Innovation echoed similar findings in a Federal Reserve report looking at its own supervision …

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 …

Former CEOs of failed banks to testify before Senate panel
1 year, 7 months ago

Former CEOs of failed banks to testify before Senate panel

Associated Press  

WASHINGTON — The former top executives of two failed banks will testify before Congress this month as lawmakers dig into what caused a series of collapses at mid-sized financial institutions. The Senate Banking Committee indicated Tuesday that it will hold a hearing May 16 with Silicon Valley Bank’s former CEO, Gregory Becker, as well as Signature Bank’s former chairman and …

Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse
1 year, 7 months ago

Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse

Live Mint  

The Federal Reserve’s banking supervisors failed to take forceful action to address growing problems at Silicon Valley Bank before it collapsed last month, the central bank’s top regulator said, signaling a broad push to toughen rules on the industry. Yet another report on Friday from the Government Accountability Office, a congressional watchdog, said regulators identified problems at both banks in …

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 …

Fed blames itself for Silicon Valley Bank collapse
1 year, 7 months ago

Fed blames itself for Silicon Valley Bank collapse

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Silicon Valley Bank failed …

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 …

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 …

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 …

Column: How Trump’s frenzy of deregulation killed Silicon Valley Bank
1 year, 8 months ago

Column: How Trump’s frenzy of deregulation killed Silicon Valley Bank

LA Times  

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners. The Fed and other regulators condemn the bank’s executives; Fed Vice Chair Michael Barr, in testimony before the Senate Banking Committee on Tuesday, called the bank’s failure “a textbook case of …

White House proposes tougher bank rules, new tests after crisis
1 year, 8 months ago

White House proposes tougher bank rules, new tests after crisis

LA Times  

The Biden administration is proposing to tighten rules on midsize institutions as it searches for tools to further calm the banking crisis and prevent another failure, such as those of Silicon Valley Bank and Signature Bank. The changes include reinstating rules for banks with assets between $100 billion and $250 billion — a category that Silicon Valley Bank, one of …

GOP lawmakers accuse Fed of being lax before bank failure
1 year, 8 months ago

GOP lawmakers accuse Fed of being lax before bank failure

Associated Press  

WASHINGTON — Republican lawmakers accused top bank regulators Wednesday of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference. “That doesn’t sound like a very urgent supervisory process,” Rep. French Hill, an Arkansas Republican, said at Wednesday’s hearing of the House Financial Services Committee into …

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 …

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, 9 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 …

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 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 …

Bank failures: Anger in Congress, but division on what to do
1 year, 9 months ago

Bank failures: Anger in Congress, but division on what to do

Associated Press  

WASHINGTON — Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. “There’s people who are going to choose bills, but I cannot imagine that, with the hold banks have on Republican members of Congress, that we can pass anything significant,” said Sen. Sherrod Brown, D-Ohio, chairman …

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 …

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 …

Warren goes off on Jerome Powell during Senate Finance hearing: He aimed a ‘flamethrower’ at banking rules
1 year, 9 months ago

Warren goes off on Jerome Powell during Senate Finance hearing: He aimed a ‘flamethrower’ at banking rules

Raw Story  

Elizabeth Warren on Thursday blamed Federal Reserve Chair Jerome Powell and lawmakers who enabled him for relaxing regulations that she said led to Silicon Valley Bank’s collapse last week. “I am grateful for the administration’s steady hand, but we shouldn’t have had to be here in the first place,” Warren initially said before taking aim at Powell and lawmakers on …

Republicans Accept No Blame For Bank Failures After They Voted To Deregulate Banks
1 year, 9 months ago

Republicans Accept No Blame For Bank Failures After They Voted To Deregulate Banks

Huff Post  

LOADING ERROR LOADING WASHINGTON — Senate Republicans insist that the bank deregulation bill Donald Trump signed into law five years ago had nothing to do with the bank failures that caught regulators off guard this month. “And if they chose not to do it, that’s gonna be a really good question based on the activities of Silicon Valley.” Sen. Kevin …

Justice Dept, SEC probing collapse of Silicon Valley Bank
1 year, 9 months ago

Justice Dept, SEC probing collapse of Silicon Valley Bank

Associated Press  

The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, two people familiar with the matter told The Associated Press on Wednesday. The collapse of Silicon Valley Bank on Friday — the largest bank failure since the financial crisis of 2008 — and Signature Bank two days later have rattled markets …

Signature Bank investigated for criminal activities prior to collapse
1 year, 9 months ago

Signature Bank investigated for criminal activities prior to collapse

Hindustan Times  

US prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend, according to people familiar with the matter. Justice Department investigators in Washington and Manhattan were examining whether the New York bank took sufficient steps to detect potential money laundering by clients — such as scrutinizing people opening accounts and monitoring transactions …

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 …

Silicon Valley Bank crisis: Fed faces flak for ‘missing’ warning signs| 5 points
1 year, 9 months ago

Silicon Valley Bank crisis: Fed faces flak for ‘missing’ warning signs| 5 points

Hindustan Times  

The Silicon Valley Bank collapse continues to dominate headlines in the financial world. The bank's new chief executive officer Tim Mayopoulos has urged the lender's top venture capitalists to move their deposits to its newly created bridge entity, Reuters reported. This comes a day after the Moody's Investors Service downgraded First Republic Bank and five other lenders, citing concerns over …

Why Silicon Valley Bank’s collapse put the spotlight on Trump
1 year, 9 months ago

Why Silicon Valley Bank’s collapse put the spotlight on Trump

Al Jazeera  

The 2018 partial rollback of US legislation Dodd-Frank is under renewed scrutiny following the failure of California-based lender. On Tuesday, Senator Elizabeth Warren, who is among a number of Democrats who have directly blamed Trump for the bank failures, announced plans to unveil legislation to restore key provisions of Dodd-Frank, including the $50bn threshold for “too big to fail” banks. …

Timeline: How US gov’t scrambled as Silicon Valley Bank collapsed
1 year, 9 months ago

Timeline: How US gov’t scrambled as Silicon Valley Bank collapsed

Al Jazeera  

Biden administration quickly put emergency measures in place as SVB failed. The United States government launched emergency measures at the weekend to shore up confidence in the banking system after the failure of Silicon Valley Bank, the largest bank collapse since the 2008 financial crisis. Here’s a look at how things unfolded: March 9 As US Treasury Secretary Janet Yellen …

“Threatening our entire economy”: Warren introduces bill to repeal “Trump’s bank law”
1 year, 9 months ago

“Threatening our entire economy”: Warren introduces bill to repeal “Trump’s bank law”

Salon  

This article originally appeared at Common Dreams. Sen. Elizabeth Warren and Rep. Katie Porter unveiled legislation Tuesday to repeal the section of a Trump-era law that weakened regulations for banks with between $50 billion to $250 billion in assets, a move that experts and lawmakers have blamed for the collapse of Silicon Valley Bank and the resulting turmoil. "In 2018, …

Fed criticized for missing red flags before bank collapse
1 year, 9 months ago

Fed criticized for missing red flags before bank collapse

Associated Press  

WASHINGTON — The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into the second-largest bank failure in U.S. history. Now the consequences of the fall of Silicon Valley Bank, along with New York-based Signature Bank, which failed over the weekend, are complicating the Fed’s …

Banking stocks steady in aftermath of Silicon Valley Bank collapse
1 year, 9 months ago

Banking stocks steady in aftermath of Silicon Valley Bank collapse

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 Banking stocks steadied on Tuesday …

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw

Firstpost  

New Delhi: Amid US administration’s move to backstop collapsed Silicon Valley Bank’s deposits, IT minister Ashwini Vaishnaw has said the developments are “reassuring” and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

SVB collapse fallout: Moody’s downgrades six US banks
1 year, 9 months ago

SVB collapse fallout: Moody’s downgrades six US banks

Hindustan Times  

Moody’s Investors Service placed First Republic Bank and five other US lenders on review for downgrade, the latest sign of concern over the health of regional financial firms following the collapse of Silicon Valley Bank. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in Santa Clara, California …

Silicon Valley Bank parent, CEO and CFO are sued by shareholders. Here's why
1 year, 9 months ago

Silicon Valley Bank parent, CEO and CFO are sued by shareholders. Here's why

Hindustan Times  

SVB Financial Group and two top executives were sued on Monday by shareholders who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit, which failed last week, "particularly susceptible" to a bank run. It appeared to be the first of many likely lawsuits over the demise of Silicon Valley Bank, which U.S. regulators seized …

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