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The Latest Breaking News from Signature

US banks on bumpy path as First Republic’s troubles persist

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

Tribune News Service

New York Community Bank agrees to buy a large portion of Signature Bank

The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries.

WEKU

New York Community Bank to buy large part of failed Signature Bank, US agency says

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday.

France 24

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New York Community Bank to buy failed Signature Bank

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday

The Independent UK

New York Community Bancorp to take over failed Signature Bank

Signature was one of 2 bank failures that threatened to kick off a broader crisis of confidence in the U.S. banking system

Axios

Bank failures: Anger in Congress, but division on what to do

Congress is trying to figure out how best to respond to the abrupt failure of two U.S. banks

The Independent UK

Regional banks safe from US contagion

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

Bangkok Post

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Who will bid for SVB?

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

Fortune

The collapse of major US banks leads to bills calling for more regulation

When Silicon Valley and Signature banks failed in early March 2023, government regulators rushed in to guarantee deposits and protect bank customers. Under current banking regulations, though, there was no obligation for the government to step in.

The Conversation

Why did the $212bn tech-lender Silicon Valley bank abruptly collapse?

Was it the result of Trump-era regulation rollbacks, risk mismanagement at the bank, sharp interest rate rises – or a combination of all three?

The Guardian - US

Will Americans end up footing the bill for bank failures?

The government’s response to the failure of two large banks has already involved hundreds of billions of dollars

The Independent UK

Big US banks benefit from surge in deposits after SVB and Signature Bank collapses

Though some consumers have pulled their money out of smaller banks, a Treasury official said those withdrawls have slowed

The Independent UK

Elizabeth Warren slams Powell for weak regulation, oversight of SVB

Senator Elizabeth Warren blasted Federal Reserve Chair Jerome Powell for “an astonishing list of failures” that contributed to the collapse of Silicon Valley Bank and Signature Bank in a letter to the Fed chief Wednesday.

Tribune News Service

Barney Frank, Signature and crypto's role in the banking crisis

The author of the famous Dodd-Frank law hints crypto is a fall guy in the current banking crisis.

Fortune

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Fortune

FDIC wants buyer of Signature Bank to give up crypto business, report says

The failed New York-based bank was a popular option among crypto firms.

The Conversation

US regulators avoided a banking crisis by swift action following SVB's collapse – but the cracks it exposed continue to weaken the global financial system's foundation

U.S. regulators’ swift reaction to the collapse of Silicon Valley Bank and two other lenders partially restored calm to markets, but concerns remain over the stability of the global financial system.

The Independent UK

NY bank's demise: Contagion or a problem with the business?

A New York-based bank's demise was stunningly fast

Fortune

‘Dr. Doom’ Nouriel Roubini warns that ‘contagion’ from U.S. banks could spread globally

“A banking crisis can morph into a debt crisis for the sovereign, in a doom loop between the banks,” Roubini told Fortune in November.

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The Guardian - UK

SVB collapse may be start of ‘slow-rolling crisis’, warns BlackRock boss

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise

Tribune News Service

Shuli Ren: The Fed’s easy fix to avert another bank crisis

The Federal Reserve's plan to expand oversight of lenders after the collapse of SVB Financial Group and Signature Bank is a move in the right direction. While it will likely be a laborious process, there is also an easy fix.

Fortune

Bank failures could spur Congress to act on stablecoins

Digital assets chair French Hill and Circle's Dante Disparte weigh in.

Boston Herald

Joe Battenfeld: Bank failures fueling insecurity and angst among American voters

The collapse of Silicon Valley Bank and two other large banks is fueling economic insecurity and angst among an already rattled American public and is prompting a major damage control effort by President Joe Biden.

Salon

Why SVB, Signature Bank failed so fast

The failures at SVB and Signature were two of the three biggest in U.S. banking history

Tribune News Service

Editorial: Silicon Valley Bank and Signature Bank collapses show regulation is needed

After Friday’s collapse of Silicon Valley Bank, big bankers are again looking to Washington with outstretched hands. We should be skeptical.

Tribune News Service

Signature Bank was seized after leaders caused ‘crisis of confidence’

Signature Bank was seized by the government Sunday after regulators lost faith in management and depositors fled, according to New York officials.

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