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The Latest Breaking News from FDIC

Thinking of getting a money market account? Consider these pros and cons

When saving money, picking the right account for your financial goals is crucial for building wealth.

Fortune

Is my money safe in the wake of two big bank failures? A consumer guide to what you need to know.

Is there any reason to be worried about bank failures after the government-ordered closings of Silicon Valley Bank and Signature Bank? And what can you do to protect yourself?

Chicago Sun-Times

Bank runs used to be slow. The digital era sped them up

What made the failure of Silicon Valley Bank unique compared to past failures of large banks was how quickly it collapsed

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Silicon Valley is working with Wall Street to buy some SVB assets

The big buzz is about Apollo's talks with venture capital firms.

Axios

‘A huge disruption’: Startups worldwide gird for life after SVB

Quang Hoang, the co-founder of a startup called Birdly Inc., spent his Monday refreshing the website of Silicon Valley Bank every hour. His San Francisco-based mentoring startup had about $10 million deposited with the now-failed financial institution, patronized by a large portion of the country’s most promising tech companies. But…

Tribune News Service

Robert Kiyosaki Is Predicting The Next Bank Seeing The Same Fate As It Happened To Lehman Brothers

Investor and entrepreneur Robert Kiyosaki made a new prediction for the banking sector that could possibly hit as this year

Zenger

VCs helped bring down SVB. The bank's new CEO wants them to save it

SVB’s new CEO held calls with clients to lay out potential outcomes.

Fortune

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Commentary: Beyond saving Silicon Valley Bank’s depositors, here’s what needs to happen next

Before Thursday, Silicon Valley Bank was regarded as being in “sound financial condition.” But on that day it experienced attempted withdrawals of $42 billion, about a third of its U.S. deposits. By close of business, the run on the bank made it incapable of paying its obligations as they came…

Los Angeles Times

Washington reacts on the fly to Silicon Valley Bank failure

After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step of guaranteeing all the deposits of the failed Silicon Valley Bank — even those exceeding the Federal Deposit Insurance Corporation's $250,000 limit

The Independent UK

What are bank runs and bank failures—and how common are they?

The Silicon Valley Bank failure is the second largest in US history. The bank had controlled more than $175 billion in total deposits.

USAFacts

Did deregulation lead to Silicon Valley Bank's collapse?

It was a scene straight out of the Great Depression: a major California bank locking its doors and pulling down the shades as a horde of panicky depositors demanded their money.

Los Angeles Times

Easing concerns about Silicon Valley collapse

The collapse of three US banks in less than a week has sent shockwaves through the financial industry, with global stocks plunging and public confidence shaken.

Bangkok Post

Elizabeth Warren is among the furious politicians demanding SVB execs return their salaries, bonuses, and $84 million in stock sale profits

Sen. Elizabeth Warren says SVB execs should give back their salaries for “facilitating a near-economic disaster.”

Fortune

Making sense of Silicon Valley Bank's failure: What it means for your money

It's never a good sign when "bank collapse" is trending on Twitter.

Los Angeles Times

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news in one place.

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Los Angeles Times

In wake of SVB collapse, California business owners scramble to contain fallout

Locked out of her three accounts with failed Silicon Valley Bank, cookbook author Anna Vocino spent the weekend in a state of high anxiety, unsure about the future of her sauces and spices company.

Fortune

'Nothing to do with crypto': Regulators pour cold water on Barney Frank's claim Signature Bank was targeted

The failure of the crypto-friendly bank has spurred rampant speculation.

Axios

Size matters when it comes to bank failures

Two failures in one year isn't that unusual. It's the dollar amounts that are eye-popping.

Fortune

SVB is getting diced up for potential buyers

Investment banking, venture capital and more are on the block, but senior management are out the door.

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Fortune

Banks catering to specific niches were a disaster waiting to happen—and regulators haven't kept up with how tech is moving money

The nature of deposits and client behaviors have changed dramatically in the past decade, says a former bank examiner at the FDIC.

Fortune

Financial regulators are unprepared for bank runs in the age of social media

Monitoring volatility on social media platforms isn’t cumbersome or costly. Silicon Valley Bank's implosion shows regulators must change with the times.

Axios

Inside Biden's SVB move to stop future bank runs

The decision to protect depositors carried some risks.

WEKU

What to know about the Silicon Valley Bank collapse, takeover and fallout

President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.

Los Angeles Times

Biden says banking system is safe, promises accountability for Silicon Valley Bank failure

WASHINGTON — “This is not 2008”: That was the mantra of Biden administration officials Monday as they sought to reassure investors and the public that a regulatory takeover of two failed banks and rescue of their depositors, along with newly implemented safeguards, would be enough to avert a broader crisis…

Chicago Sun-Times

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.

Fortune

SVB’s other businesses are on the block: What’s for sale and who may be a buyer?

SVB Financial named a restructuring committee to seek out alternatives for its non-banking units.

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