The Latest Breaking News from FDIC

The Federal Reserve admitted it should have taken more action before Silicon Valley Bank collapsed on March 10.

Washington (AFP) - 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 (SVB) last month.

First Republic Bank crashed to fresh lows Friday on reports the FDIC will likely place it into receivership. But other bank stocks rose.

CNBC's David Faber said a solution to First Republic's balance sheet issues could come as early as today.

Morning Markets The S&P 500 Index ( $SPX ) ( SPY ) today is up +0.46%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up +0.40%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is up +0.30%. U.S. stock indexes are moderately higher,...

The bank's stock has dropped more than 60% since Monday, after a weak first-quarter earnings report.

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.29%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.22%. U.S. stock index futures this morning are moderately lower. Weakness in technology stocks is weighing on the overall market after Amazon.com gave up a +12%...

The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession.

The Australian share market has fallen for the fifth session in a row, and vitamins firm Blackmores has soared after Japan's Kirin Holdings announced it would buy the natural health company for nearly $2 billion.