The Latest Breaking News from Silicon Valley Bank

Australian banks ‘unquestionably strong’ despite global uncertainty in sector, RBA says

Assistant governor of the Reserve Bank says local banks are protected by strong balance sheets despite ‘strained’ conditions overseas

The Guardian - AU · Mar 19, 2023

Warren says she favors increasing FDIC’s deposit insurance cap

WASHINGTON — Sen. Elizabeth Warren is calling for more U.S. deposits to be covered by federal insurance and demanding government probes into whether lax regulation fueled this month’s collapse of Silicon Valley Bank and Signature Bank.

Tribune News Service · Mar 19, 2023

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

The Independent UK · Mar 19, 2023

UBS agrees to takeover of stricken Credit Suisse for $3.25bn

Swiss government forces through takeover at well below market value amid fears of global banking crisis

The Guardian - UK · Mar 19, 2023

Bank fail: How rising interest rates paved the way for Silicon Valley Bank's collapse

Silicon Valley Bank invested billions of dollars in super safe U.S. government bonds. But that choice exposed to the bank to a whole other set of risks.

WEKU · Mar 19, 2023

US banks want socialism for themselves - and capitalism for everyone else

When banks like Silicon Valley Bank collapse, money floods to bigger ones like JPMorgan. Clients know they’re ‘too big to fail’

The Guardian - US · Mar 19, 2023

‘We have money and power’: older Americans to blockade banks in climate protest

Demonstrations at 90 sites are billed as first major action by older activists: ‘It’s not fair to ask 18-year-olds to solve this’

The Guardian - US · Mar 19, 2023

Silicon Valley Bank collapse concerns founders of color

While Wall Street works to contain the biggest American bank failure since the 2008 financial meltdown, founders of startups who are people of color worry it could become even harder to secure financial support

The Independent UK · Mar 19, 2023

Midsize banks want unlimited FDIC insurance for 2 years

A coalition of midsize U.S. banks is reportedly calling on the government to insure all deposits for the next two years.

Axios · Mar 19, 2023

Millions paid in bonuses to UK Silicon Valley Bank staff days after £1 rescue

Workers reported to have received payouts from ‘modest’ pool of £15m-£20m following takeover deal by HSBC

The Guardian - UK · Mar 18, 2023