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The Latest Breaking News from Silicon Valley Bank

ASX follows global gains; restaurants, cafes and bars most at risk from consumer 'recession' — as it happened

The local share market rises strongly. Retail sales slow, raising questions about the Reserve Bank's next move. Here's how it unfolded on the ABC News markets blog.

ABC News

Fed official: Regulators will ensure all deposits are 'safe'

The nation’s top financial regulator pledged that the Federal Reserve and other agencies will take whatever steps they deem necessary to protect depositors and the banking system two weeks after two large bank collapses triggered financial turmoil in the United States and Europe

The Independent UK

Elon Musk Warns a New Financial Crisis Is Knocking at the Door

Commercial real estate debt and mortgages are a 'serious' threat to the economy, warns the serial entrepreneur and billionaire.

The Street

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Here’s Why You Should Read Between the Lines of Unusual Options Volume

While the heavyweights offered words of reassurance to investors regarding Deutsche Bank’s fallout, everyone should instead look to the unusual options volume indicator.

Barchart

Top Fed official: Silicon Valley Bank was "textbook case of mismanagement"

A congressional hearing on Silicon Valley Bank’s failure will begin on Tuesday.

Axios

SVB staff claim they got up to 50% of their salaries in company equity —now some may have lost millions in its collapse

Staff had to be reminded to eat as they worked tirelessly to support their clients, an SVB employee has said.

Fortune

Rising inflation will continue to cause political headaches for the government, but also for the Bank of England

The Bank of England raised its main interest rate for the eleventh time in a row to 4.25% at its March meeting. At its previous meeting in February the Bank was optimistic about the prospects for inflation in the coming year, saying: “We expect inflation to fall quickly this year.”

The Conversation

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Stocks See Support as Banking Stocks Gain

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.26%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.47%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.13%. U.S. stock indexes this morning are mixed. The broader...

Barchart

Lawmakers open to Biden’s call to claw back SVB executive pay

WASHINGTON — President Joe Biden’s call for legislation that would allow regulators to claw back executive bonuses and stock sale proceeds in the lead up to the Silicon Valley Bank collapse has found a receptive audience on Capitol Hill.

Tribune News Service

Western Alliance Bancorp Option Premiums are Still High, Attracting Income Investors

Silicon Valley Bank has been bought by First Citizens, and Western Alliance Bancorp stock is up. But its option premiums are still high, attracting income investors who short its puts and calls.

Barchart

Jim Cramer's Fascinating Take on the Sale of Failed Silicon Valley Bank

It may not be all bad news.

The Street

Bank shares rebound on SVB sale

New York (AFP) - Bank shares rallied to lift most major stock markets on Monday as fears of a sector crisis eased after a regional US lender took over most of collapsed rival Silicon Valley Bank.

AFP

The latest in the banking sector turmoil

Paris (AFP) - Silicon Valley Bank is being largely acquired by another US lender in the latest fallout from three weeks of turbulence in the financial sector.

AFP

Editorial: Lessons From the Collapse of Silicon Valley Bank

By taking every crisis suffered by others seriously, we can minimize our own crises

Caixin Global

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McClatchy Washington Bureau

Will US consumers have to bail out struggling banks?

WASHINGTON — Could taxpayers wind up bailing out wealthy customers at banks such as Silicon Valley Bank, Signature Bank and others that are struggling?

Investors Business Daily

Bank Stocks Rally: First Citizens Buys Silicon Valley Bank; Officials Weigh More Support

Bank stocks rallied as First Citizens agreed to buy Silicon Valley Bank while officials mull more First Republic support. KeyCorp got an upgrade.

Tribune News Service

First Citizens Bank will buy Silicon Valley Bank

RALEIGH, N.C. — Raleigh’s First Citizens Bank is buying most of Silicon Valley Bank, the tech-focused financial institution which collapsed earlier this month.

Barchart

Markets Today: Stock Indexes Climb as Banking Concerns Ease

Morning Markets March S&P 500 futures (ESM2 3) this morning are up +0.62%, and March Nasdaq 100 E-Mini futures (NQM2 3) are up +0.25%. U.S. stock index futures this morning are moderately higher as the prospect of additional support from U.S. authorities eased some concerns about liquidity at regional banks...

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Investors Business Daily

Dow Jones Rallies 300 Points On Silicon Valley Bank Purchase; First Republic Soars 31%

The Dow Jones rose 250 points Monday, as First Citizens bought FDIC-controlled Silicon Valley Bank. First Republic Bank soared 30%

The Guardian - UK

Saudi National Bank chair resigns after Credit Suisse comments

Ammar Al Khudairy’s remarks about Swiss lender spurred investor panic that led to emergency takeover

Axios

Money's moving out of the banking system

Where is it landing?

AFP

European equities rebound on SVB sale

London (AFP) - European stock markets rebounded slightly Monday after US lender First Citizens bought most of collapsed rival Silicon Valley Bank, easing fears of a sector crisis.

The Street

First Citizens Buy of SVB Could Boost Confidence in Banking System

Regional bank stocks are moving higher Monday following a late-night agreement by First Citizens to buy the assets of failed lender Silicon Valley Bank.

The Street

Stocks Higher, First Citizens Purchase, Inflation Data Focus, Bank Deposits Flee, Israel Protests - Five Things To Know

Stock futures higher as bank stocks rebound; Week Ahead: inflation data in focus as Fed rate bets fade; First Citizens agrees to buy Silicon Valley bank loans, deposits; U.S. bank stocks higher, but deposit outflows quicken and Israel protests deepen pressure on Prime Minister Netanyahu.

Barchart

Stocks Set to Open Higher as SVB Deal Calms Banking Sector Fears

June S&P 500 futures (ESM23) are up +0.34%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning as market participants welcomed the news that First Citizens BancShares had agreed to acquire Silicon Valley Bank’s deposits and loans.

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