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The Latest Breaking News from FDIC

Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

ABC News

Strong Earnings Results Boost Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Friday closed up +0.83%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.80%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.65%. Stock indexes Friday posted moderate gains, with the S&P...

Barchart

SVB Securities to be rescued from limbo by end of May auction

According to SVB’s most recent bankruptcy filings, the company’s investment banking arm will be put on the block in May.

Fortune

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Federal Reserve will consider tougher rules for banks after Silicon Valley Bank failure

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.

Axios

Is my money safe? What you need to know about bank failures

Recent bank failures may have you worried about your money

The Independent UK

The $100 billion meltdown of First Republic could play out 3 ways—and 2 are terrible for shareholders

The once high-flying bank has seen shareholders flee as concern mounts that the FDIC may have to step in.

Fortune

Markets Today: Stocks Continue Their Rally

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,...

Barchart

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Markets Today: Weakness in Tech Stocks Weighs on Stock Index Futures

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%...

Barchart

What went wrong at Silicon Valley Bank? The Fed is set to release a postmortem report

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.

WEKU

ASX falls, Japan's Kirin to buy Blackmores for $2 billion, Wall St eases as First Republic banking crisis outweighs tech profits — as it happened

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.

ABC News

Apple’s Ecosystem of Cash

In the race to offer the highest yields on savings, Apple expanded its cash ecosystem (Apple Pay, Apple Card, and “Pay Later”) with a 4.15% offer.

Barchart

Tech-Stock Strength Partially Outweighs Banking Concerns

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Wednesday closed down -0.38%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.68%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.64%. Stock indexes Wednesday settled mixed, with the S&P 500...

Barchart

Did Tweets Help Crash Silicon Valley Bank? Paper Shows New Social Media Risks

A new study on Silicon Valley Bank's demise links depositor flight and stock crash with Twitter mentions.

Kiplinger

Synchrony Bank review 2023

Synchrony is an online-only bank with various, low-cost account options for savers.

Fortune

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news in one place.

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Fortune

Frank founder Charlie Javice put her money in Signature Bank after JPMorgan Chase fraud allegations

Javice rushed to pull her funds out of Signature Bank after it was taken over by the FDIC in March.

Kiplinger

Are Your Bank Deposits Safe? What to Know

Recent bank failures have unnerved savers, but your money is protected up to certain limits. Here’s what you need to know.

The Independent UK

Bank rates are up. How to avoid leaving money on the table

After years of paying low rates for savers, banks are finally offering better interest on deposits

Axios

Reverse ATMs take bills, dispense cards as stores go cashless

Sports stadiums and amusement parks are all shunning cash — but often required to take it

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news in one place.

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Chicago Sun-Times

Bridgeport bank failure proves costly for FDIC, a CPD officer faces dismissal and more in your Chicago news roundup

Today’s update is about an eight-minute read that will brief you on the day’s biggest stories.

Los Angeles Times

Michael Hiltzik: Love it or hate it, the Silicon Valley Bank bailout won't cost taxpayers a cent

What's the dirtiest word in financial policy?

Chicago Sun-Times

Bridgeport bank failure cost millions more than feds have said: Where did all the money go?

Authorities say they’ve recovered $59 million toward the money lost when they shut down Washington Federal Bank for Savings, but they’re still out another $81 million, records show.

Fortune

You’re probably not getting the best APY on your savings account, here’s how to grow your savings

A new account might be the fastest way to increase your savings these days, but experts say it’s not the only way.

Kiplinger

Top Earning 3-Year CDs July 2023

Here are the top-yielding 3-year CDs — with some accounts paying up to 5.13%.

Bangkok Post

Money market funds lure investors with returns

Depositors have started to move their money from bank accounts to money market funds, in part because of ongoing concerns about the banking crisis and also offers of higher returns, according to a recent report from financial services company Morningstar.

The Conversation

5 policies that could make future bank failures less likely or severe

The abrupt failures of Silicon Valley Bank and Signature Bank and subsequent concerns about the stability of other banks have reignited a fierce debate among lawmakers, the financial industry, the Biden administration and former government officials about an array of banking reforms and regulatory changes.

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Patrick Daley Thompson

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