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The Latest Breaking News from Silicon Valley Bank

Silicon Valley Bank fallout drags in a bank with a similar name after ‘baseless rumors and mischief-mongering’

SVC Bank threatened to take legal action against ‘mischief mongers’ who were alleging it had ties to collapsed SVB.

Fortune

How the Fed's rate hike campaign broke things

The pain from monetary tightening has only just begun.

Axios

How Fed shrapnel killed Silicon Valley Bank

Continuing to tighten monetary policy in this environment of bank blowups and declining consumer and business confidence is a surefire recipe for disaster.

Fortune

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read the most diverse news in one place.

Relief in the UK over Silicon Valley Bank. Panic in the US

Sale of SVB’s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy halo

The Guardian - UK

Biden offers assurances after major US banks collapse

President says banking system is ‘safe’ but will seek accountability after second largest failure in US history.

Al Jazeera

Paul J. Davies: A full banking crisis isn’t apparent in the SVB wreckage

The market still appears to be hunting for weakness among some smaller U.S. banks and even across Europe after U.S. authorities stepped in to guarantee deposits at Silicon Valley Bank. This makes little sense: There should be no snowballing of runs on banks. But profit expectations could be trimmed at…

Tribune News Service

Biden says banking system is safe, blames Trump for Silicon Valley Bank failure

WASHINGTON — President Joe Biden said Monday that the U.S. banking system is “safe and secure” following the failure of Silicon Valley Bank and closure of Signature Bank last week.

Los Angeles Times

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OPINION - Tech & Science Daily podcast: Why Silicon Valley Bank UK rescue ‘protects tech industry’

The UK branch of Silicon Valley Bank has managed to avoid being declared insolvent by the Bank of England - after being bought by HSBC for £1.

Evening Standard

How the Fed Broke Silicon Valley Bank

The Fed's anti-inflation measures had to hurt someone.

Reason

How savers can keep their money safe when banks collapse

Collapse of Silicon Valley Bank sparks memories of 2007/8 global financial crisis

The Independent UK

HSBC buys Silicon Valley Bank UK in rescue deal to avoid tech sector chaos

The 11th-hour sale was agreed after all-night talks between the Government and the Bank of England.

The Independent UK

‘Your deposits will be there when you need them,’ president says

President Joe Biden on Monday moved to assure the public after the swift and stunning collapse of two banks that prompted fears of a broader upheaval.

Chicago Sun-Times

Silicon Valley Bank: global banking shares slide as fallout spreads

Stock markets fail to be reassured by Joe Biden’s intervention, as SVB failure is followed by Signature

The Guardian - UK

Biden blames Trump deregulation for Silicon Valley Bank failure

WASHINGTON — President Joe Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump’s 2018 decision to scrap some Obama-era banking regulations.

Los Angeles Times

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Reason

Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse

Plus: Fox News troubles, junk statistics about illicit economies, and more...

The Guardian - US

There’s a deeper story to Silicon Valley Bank’s failure. What can we learn from it?

Financial deregulation led to the crash in 2008 and it could again in 2023. It’s time to make banking boring again

The Independent UK

Biden says banking system is ‘safe’ after Silicon Valley Bank collapse and vows accountability for executives

‘No losses will be borne by the taxpayers,’ the president says

Fortune

Billionaire investor Bill Ackman says U.S. regulators ‘did the right thing’ by saving Silicon Valley Bank depositors

But he warns more banks "will likely fail."

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WEKU

Banking shares slump despite U.S. assurances that deposits are safe

The declines come despite emergency measures by regulators to protect depositors at Silicon Valley Bank and Signature Bank and President Biden's remarks to reassure Americans.

Axios

Biden says "banking system is safe" after Silicon Valley Bank collapse

Biden also promised to do "whatever is needed" to prevent any other bank runs.

The Guardian - US

Biden stresses taxpayer funds won’t be used in Silicon Valley Bank collapse – as it happened

President reassures Americans ‘banking system is safe’ as US government announces plans to stabilize situation

WEKU

Biden reassures bank customers and says the failed firms' leaders are fired

President Biden also said insiders and investors won't be bailed out, but that companies that used the bank will be able to pay their employees and bills.

The Independent UK

Watch as Biden speaks on US financial system following collapse of Silicon Valley Bank

Watch as Joe Biden addresses the nation on Monday (13 March) following the collapse of Silicon Valley Bank.

Tribune News Service

US regional banks remain under pressure as First Republic sinks

Turmoil continued to engulf shares in banks as investors rushed to reduce exposure to the banking industry after seeing equity stakes wiped out at Silicon Valley Bank and Signature Bank.

The Independent UK

Central banks could ‘ease up on rate hikes’ after Silicon Valley Bank collapse

The events will add to pressure on UK and US central banks to ease up on raising interest rates, some experts have suggested

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