The Latest Breaking News on Financial Services

President says banking system is ‘safe’ but will seek accountability after second largest failure in US history.

The market still appears to be hunting for weakness among some smaller U.S. banks and even across Europe after U.S. authorities stepped in to guarantee deposits at Silicon Valley Bank. This makes little sense: There should be no snowballing of runs on banks. But profit expectations could be trimmed at…

President Joe Biden on Monday moved to assure the public after the swift and stunning collapse of two banks that prompted fears of a broader upheaval.

WASHINGTON — President Joe Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump’s 2018 decision to scrap some Obama-era banking regulations.

Financial deregulation led to the crash in 2008 and it could again in 2023. It’s time to make banking boring again

‘No losses will be borne by the taxpayers,’ the president says

Investors fearful of a bank run are selling stocks and driving down bond yields.

Biden also promised to do "whatever is needed" to prevent any other bank runs.

Bank customers who switch to a Halifax Reward Current Account or Ultimate Reward Current Account could bag £175 if they make the move before April 3