The Latest Breaking News from FDIC

US seeks to quell risk of a bank run as Yellen pledges protections

WASHINGTON — U.S. regulators are racing against the clock to find solutions for failed Silicon Valley Bank while Treasury Secretary Janet Yellen said officials are focusing on protecting depositors, as officials seek to avoid a wider bank run.

Tribune News Service · Mar 12, 2023

FDIC working on finding buyer for Silicon Valley Bank, California Rep. Khanna says

WASHINGTON — Rep. Ro Khanna, D-Calif., said the Federal Deposit Insurance Corp. is working to find a buyer for Silicon Valley Bank and urged the U.S. government to step in and guarantee all of the bank’s deposits.

Tribune News Service · Mar 12, 2023

Can the chaos from Silicon Valley Bank's fall be contained?

Can Washington come to the rescue of Silicon Valley Bank's depositors

The Independent UK · Mar 12, 2023

FDIC races to start returning some uninsured SVB deposits Monday

U.S. regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.

Tribune News Service · Mar 12, 2023

Mark Cuban urges Fed to buy Silicon Valley Bank debt ‘immediately,’ says it’s ‘not the wealthy taking the hit’

It's entrepreneurs and their employees and vendors who are "feeling the pain," Cuban said.

Fortune · Mar 11, 2023

SVB doled out bonuses ahead of FDIC seizure

The FDIC emailed SVB employees late last night, offering 45 days of employment.

Axios · Mar 11, 2023

From Santa Clara to Shoreditch, SVB fallout spreads around world

The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.

Tribune News Service · Mar 11, 2023

As banks topple, regulators face reckoning on week of mayhem

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.

Tribune News Service · Mar 11, 2023

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

Fortune · Mar 11, 2023

Silicon Valley Bank failure could wipe out 'a whole generation of startups'

The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.

WEKU · Mar 11, 2023