What happened to Credit Suisse and why are banks needing bailouts again? Could isolated failures herald another global banking crisis? The Independent UK · Mar 21, 2023
What Happens To Education Institutions When A Bank Fails? The recent failure of Silicon Valley Bank should have implications for the way many education institutions go about their banking Tech&Learning · Mar 21, 2023
JPMorgan CEO Jamie Dimon reportedly leading discussions on First Republic rescue JPMorgan's 2008 rescues ended up costing the bank $19 billion. Fortune · Mar 21, 2023
Army of lobbyists helped water down banking regulations A handful of red-state Democrats were instrumental in helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018 The Independent UK · Mar 21, 2023
The Fed’s ‘stress tests’ were supposed to save banks from the exact crisis now engulfing markets. Here’s how they were so spectacularly wrong “What the Fed saw as the big potential threats didn’t materialize, and the threat that did materialize they didn’t see coming,” says Thomas Hogan, a senior fellow at the American Institute for Economic Research. Fortune · Mar 20, 2023
Lawmakers float ways to recapture deposit insurance discipline - Roll Call The size of deposits covered by federal bank rescues has lawmakers talking about the discipline of a cap on deposit insurance. Roll Call · Mar 20, 2023
First Republic’s shares crash more than 46% after downgraded credit rating The US bank may need to raise more funds despite a $30bn rescue last week The Guardian - UK · Mar 20, 2023
Silicon Valley Bank created a payroll nightmare. Here’s how to make sure it doesn’t happen to you Silicon Valley Bank's collapse underscores the importance of a payroll continuity plan for startups. Fortune · Mar 20, 2023
Four ways to protect your small business from a banking crisis The banking sector is currently experiencing great strain, which has resulted in several bank bailouts – most recently UBS’ deal to buy its Swiss competitor Credit Suisse following a collapse in confidence in the latter. HSBC’s acquisition of the UK arm of the collapsed Silicon Valley Bank the previous week… The Conversation · Mar 20, 2023
How is the global banking crisis impacting the US and what is being done to solve it? Collapse of Silicon Valley Bank sparks collapse of confidence in markets The Independent UK · Mar 20, 2023
Bitcoin soars past $28,000 to hit its highest point in 9 months as investors get spooked by the banking sector struggles The cryptocurrency had previously struggled to maintain momentum past the $25,000 mark. Fortune · Mar 20, 2023
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 · Mar 20, 2023
Worst bank turmoil since 2008 means Federal Reserve is damned if it does and damned if it doesn't in decision over interest rates The Federal Reserve faces a pivotal decision on March 22, 2023: whether to continue its aggressive fight against inflation or put it on hold. The Conversation · Mar 20, 2023
Opinion: What China Can Learn From SVB’s Collapse The U.S. response to Silicon Valley Bank’s failure can offer valuable insights to China’s banking industry, an economist says Caixin Global · Mar 20, 2023
Fortune · Mar 20, 2023 Coinbase offered $3.3 billion backstop to Circle as USDC teetered In the hours before regulators expanded FDIC insurance, Coinbase and Circle came up with a backstop plan of their own.
Axios · Mar 20, 2023 Is it time to raise the FDIC deposit cap? As it stands, things are murky: The cap exists, but it could be waived for banks that seem important enough
Fortune · Mar 20, 2023 How CFOs should be thinking about risk in light of SVB's collapse CFOs are facing questions from boards, even if their company wasn't directly impacted.
Los Angeles Times · Mar 20, 2023 Doyle McManus: Silicon Valley Bank's collapse may be a blessing in disguise In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever.
Los Angeles Times · Mar 20, 2023 Silicon Valley Bank's demise animates early days of California's 2024 US Senate contest With a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts.
WEKU · Mar 20, 2023 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.
The Guardian - AU · Mar 20, 2023 Explainer: are we in a banking crisis? The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing
Al Jazeera · Mar 20, 2023 US sees bank deposits stabilise even as some regional banks reel Deposits in the country’s banking system are stabilising, Reuters reported citing unnamed US official.
France 24 · Mar 20, 2023 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.
The Independent UK · Mar 20, 2023 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 News Lens · Mar 20, 2023 Collapse of Silicon Valley Bank Has Chinese Startups Worried The now-failed SVB served roughly 2,200 clients in China and advised government regulators who were eager to build the country’s tech sector.