The Latest Breaking News from Silicon Valley Bank

Stock Market Today: Stocks Fall After First Republic Bank Suspends Dividend

The embattled lender's dividend cut was just the latest sign of instability in the banking industry.

Kiplinger · Mar 17, 2023

What Canada can learn from the collapse of Silicon Valley Bank

The sudden collapse of Silicon Valley Bank left its investors reeling, shocked and unsure of what had happened to their funds. SVB was one of the top 20 banks in the United States, and many had trusted their money with the bank, unaware of the crisis that was brewing.

The Conversation · Mar 17, 2023

Biden seeks FDIC authority to claw back bankers’ compensation

WASHINGTON — President Joe Biden on Friday urged Congress to pass legislation that would give the Federal Deposit Insurance Corporation authority to “claw back” executive pay at failed banks and to bar the executives from jobs in the banking industry.

Tribune News Service · Mar 17, 2023

Biden wants Congress to boost penalties for executives when mid-sized banks fail

President Biden said the current law limits his administration's power to hold executives responsible when mid-sized banks fail due to mismanagement.

WEKU · Mar 17, 2023

The European Central Bank seems to have got away with raising interest rates in the middle of a banking crisis – here's why

In the middle of a market panic that has felled two US banks and pushed several others to the brink, the European Central Bank (ECB) has raised interest rates by another 0.5 percentage points. The ECB’s president, Christine Lagarde, had been warning this was necessary to bring eurozone inflation back…

The Conversation · Mar 17, 2023

Biden to Congress: Ban execs of failed banks from the industry

Silicon Valley Bank and Signature Bank were both taken over by the FDIC in the last week.

Axios · Mar 17, 2023

This week in the metaverse: Yuga Labs adds to NFT game, The Sandbox opens a virtual Irish pub, and Silicon Valley Bank spooks Web3 traders

Yuga Labs builds upon Dookey Dash with a new collection, a virtual Irish pub opens in The Sandbox, and Silicon Valley Bank takes a toll on NFT traders.

Fortune · Mar 17, 2023

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 · Mar 17, 2023

Silicon Valley Bank’s parent company files for bankruptcy

SVB Financial Group files for chapter 11 protection but failed Silicon Valley Bank, now under FDIC control, is not part of bankruptcy

The Guardian - US · Mar 17, 2023

Near 'cliff's edge,' Credit Suisse not seen as systemic risk

Longtime troubles at Credit Suisse have come to a head this week with a record stock plunge that spread fears of a banking crisis jumping from the U.S. to Europe

The Independent UK · Mar 17, 2023