The Latest Breaking News from Silicon Valley Bank

A legal scholar says the Dodd-Frank act put in place after the Great Recession proved to be useless amid SVB's collapse

“Dodd-Frank is still on the books, but its...as good as dead. What good does it do to have a massive set of regulations...if they aren't enforced?” Adam Levitin, a Georgetown University law professor wrote Thursday.

Fortune · Mar 24, 2023

Apps, crypto, and even Starbucks cards: Deposit fragmentation has been on a decade-long mission to bring down banking–and it’s not done yet

Even retail apps like Starbucks, Chick-fil-A, online gaming apps, and many others are siphoning funds away from traditional banks.

Fortune · Mar 24, 2023

Gold Surges to $2,000; Will the Rally Continue?

Gold prices have surged at an exceptional pace in the last month and the yellow metal is trading near all-time highs in March 2023. Will gold prices breach record levels in the next 12 months?

Barchart · Mar 24, 2023

Soaring interest rates contributed to recent bank failures – and there could be more to come

US bank regulators closed Silicon Valley Bank (SVB) on March 10 2023, after it suffered US$42 billion (£35 billion) of deposit withdrawals in a 24-hour period. This was the largest bank failure since the 2008 global financial crisis and was not supposed to happen again.

The Conversation · Mar 24, 2023

Commentary: The Fed just raised interest rates. Does that mean there is no banking crisis?

Do we have a banking crisis in the United States or don’t we?

Los Angeles Times · Mar 24, 2023

Silicon Valley Bank CEO Sold $3.6 Million In Stock And Could Be Hiding In Hawaii Now

SVB at the center of the financial crisis of March 2023 saw several insiders sell shares before the bank run by its customers

Zenger · Mar 23, 2023

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That's not a problem—until it is

"As long as people aren't all coming in at the same time and demanding that their deposits back, you're okay, but that's exactly what's been happening," Prof. Stephan Weiler told Fortune. "So the chances of facing those unrealized losses are going up."

Fortune · Mar 23, 2023

'There were a couple of Tweets and then this thing went down': Citigroup CEO Jane Fraser says a social media bank run on SVB is a 'complete game changer'

Banking crises have happened before, but this may be the first one accelerated by mobile banking and social media.

Fortune · Mar 23, 2023

How Sydney became the world's 'most-tolled' city. Or did it?

New South Wales Labor leader Chris Minns says Sydney is the "most-tolled city" in the world. Does that check out?

ABC News · Mar 23, 2023

Fed's unwanted ally in bid to tame inflation: Credit crunch

The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: A cutback in bank lending

The Independent UK · Mar 23, 2023