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The Latest Breaking News from FDIC

Seeing all red next to your bank's ticker? Here is what that means

“Consumers need to separate falling stock prices and volatile trading from their actual deposits in the bank,” explained Mark Neuman, financial advisor and CIO of Constrained Capital.

Fortune

Top Obama economist has a 3-point plan to prevent more bank failures

SVB’s collapse is dangerous to a stable financial system, and a blueprint of what banking should not do.

Fortune

How Silicon Valley Bank's collapse may affect crypto companies

SVB’s failure was the biggest bank collapse since Washington Mutual Bank in 2008.

Fortune

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The SVB implosion shows why FDIC insurance is so important

For those with plenty of liquid assets, knowing how FDIC insurance works can save potential headaches down the line.

Fortune

FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger

Michael Pascoe: Silicon Valley Bank downfall will increase nerves in a precarious sector

Silicon Valley Bank, an institution that specialised in tech, might seem a long way away from Australia, but we should take note.

The New Daily

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Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

ABC News

Avoiding the ‘B-word’: is the US response to SVB’s collapse a bailout?

Given the antipathy towards Wall Street bailouts in the 2008 crisis, Biden is at pains to stress that ‘no losses’ will be borne by taxpayers

The Guardian - US

Feds backstop all deposits of failed Silicon Valley Bank, second Bay Area bank plunges

SANTA CLARA, California — Federal officials moved to insure all deposits at failed Silicon Valley Bank, hoping to inoculate the banking system against contagion, but shares of another Bay Area regional bank plunged on Monday.

Tribune News Service

What happens to your money if your bank fails, plus expert tips on protecting your money

With more than $110 billion in assets, Signature Bank just became the third-largest bank failure in U.S. history. Here’s what consumers need to know about bank failures and protecting their money.

Fortune

Silicon Valley Bank collapse: What you need to know

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe

The Independent UK

‘Your deposits will be there when you need them,’ president says

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.

Chicago Sun-Times

Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse

Plus: Fox News troubles, junk statistics about illicit economies, and more...

Reason

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Axios

Let the bailout debate begin

If a bailout doesn't cost anything, is it really a bailout?

Fortune

A risk management nightmare at Silicon Valley Bank

The CFO and board "failed to adequately protect shareholder value," says a former bank examiner for the Federal Reserve.

Roll Call

Biden raps 2018 bank changes, asks lawmakers to toughen rules - Roll Call

President Biden urged Congress to tighten regulations on the banking sector and criticized a bipartisan 2018 easing of capital rules.

Fortune

Federal agencies are saving Silicon Valley, but tech may never be the same

Silicon Valley Bank depositors will be made whole, but startups are losing a key player in the ecosystem.

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Asharq Al-Awsat

US, UK Try to Stem Fallout from Silicon Valley Bank Collapse

Governments in the UK and US took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon…

The Independent UK

Biden will address the nation about the collapse of Silicon Valley Bank

While the Biden administration has no intentions of bailing out the bank, it has introduced emergency measures to protect the US economy and give bank clients access to their funds

Roll Call

Regulators to protect SVB, Signature depositors, but no bailout - Roll Call

Federal regulators said Sunday they would protect all Silicon Valley Bank depositors, including those above the deposit insurance limit.

France 24

Banking system is 'safe', Biden assures Americans after SVB collapse

US President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse of Silicon Valley Bank (SVB) and the federal takeover of a second bank.

Tribune News Service

US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

The New Daily

US stems SVB fallout by backing customer deposits

US officials will shore up deposits to stem any broader financial fallout from the sudden collapse of Silicon Valley Bank.

Chicago Sun-Times

Feds say Silicon Valley Bank clients will get funds as another troubled bank is shuttered

The Treasury, FDIC and Federal Reserve said clients of Silicon Valley Bank would be protected as the agencies sought to find a buyer and stop further bank runs.

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