The Latest Breaking News on Financial Services

Inside Biden's SVB move to stop future bank runs

The decision to protect depositors carried some risks.

Axios · Mar 14, 2023

Kuwait: Limited Exposure to Collapse of SVB

The financial sector in Kuwait announced that it had registered limited exposure to the collapse of Silicon Valley Bank. The Central Bank of Kuwait (CBK) affirmed on Sunday that the exposure of Kuwaiti banks to Silicon Valley Bank (SVB), following the closure of the bank by the US authorities, was…

Asharq Al-Awsat · Mar 14, 2023

US banking sector outlook downgraded, but regional bank shares surge – as it happened

Shares in First Republic, Western Allliance, PacWest and Zions are all rallying after Monday’s selloff; US inflation drops to 6%

The Guardian - UK · Mar 14, 2023

Why did Silicon Valley Bank fail and is a financial crisis next?

Economists see Lehman Brothers-style crisis as unlikely despite jitters following collapse of California-based lender.

Al Jazeera · Mar 14, 2023

Washington tries to contain chaos from Silicon Valley Bank’s failure

Analysts say there is little chance of a wider banking crisis after the failure of Silicon Valley Bank, as the banking system is well-capitalized and passed stress testing.

Chicago Sun-Times · Mar 14, 2023

Michael Hiltzik: With demands for a bank bailout, Silicon Valley shows its 'small government' mantra was just a pose

For decades, the dominant mantra of Silicon Valley's powerful has been that government is just a drag on their innovative spirit. Get regulators off our backs, they've argued, and we'll improve people's lives to an indescribable degree.

Los Angeles Times · Mar 14, 2023

Fitch downgrades and withdraws Signature Bank's ratings

Rating agency Fitch on Monday downgraded Signature Bank's long-term corporate ratings to 'D' from 'BBB+' after state regulators closed the New York-based bank on Sunday.

Bangkok Post · Mar 13, 2023

Political blame game erupts over SVB failure

Each side is seizing on the themes already animating their economic message heading into 2024.

Axios · Mar 13, 2023

Republicans have a scapegoat for Silicon Valley Bank’s collapse: ‘Woke banks’

Right-wing media and GOP officials falsely turn to catch-all boogeyman after historic financial failure

The Independent UK · Mar 13, 2023

The FDIC was created exactly for this kind of crisis. Here's the history

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

WEKU · Mar 13, 2023