Stock market today: Tokyo gains, most Asian markets closed Shares have advanced in Tokyo and Sydney while most Asian markets were closed for May 1 holidays The Independent UK · May 1, 2023
First Republic Bank’s fate is up in air as regulators seek a solution to its woes First Republic is seen as the next bank likely to fail after Silicon Valley Bank, Signature Bank because of its amount of uninsured deposits and exposure to low interest rates. Chicago Sun-Times · May 1, 2023
First Republic up in air as regulators juggle bank's fate Regulators continued their search for a solution to First Republic Bank’s woes over the weekend before stock markets were set to open Monday The Independent UK · Apr 30, 2023
Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year. ABC News · Apr 29, 2023
Recent banking crises are rooted in a system that rewards excessive risk-taking -- as First Republic's failure shows First Republic Bank became the second-biggest bank failure in U.S. history after the lender was seized by the Federal Deposit Insurance Corp. and sold to JPMorgan Chase on May 1, 2023. First Republic is the latest victim of the panic that has roiled small and midsize banks since the failure… The Conversation · Apr 28, 2023
Fed blames itself for Silicon Valley Bank collapse Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday The Independent UK · Apr 28, 2023
Federal Reserve will consider tougher rules for banks after Silicon Valley Bank failure The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse. Axios · Apr 28, 2023
Is my money safe? What you need to know about bank failures Recent bank failures may have you worried about your money The Independent UK · Apr 28, 2023
The Fed admits some of the blame for Silicon Valley Bank's failure in scathing report The Federal Reserve says its own light-touch approach to bank regulation is partly to blame for the collapse of Silicon Valley Bank last month, and it promised more vigorous oversight in the future. WEKU · Apr 28, 2023
NatWest first-quarter profits jump by 50% after interest rate rises Banking group says some customers have had to dip into savings because of rising prices The Guardian - UK · Apr 28, 2023
Fed's review of role in Silicon Valley Bank collapse due out The Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry The Independent UK · Apr 28, 2023
What went wrong at Silicon Valley Bank? The Fed is set to release a postmortem report The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession. WEKU · Apr 27, 2023
First Republic Bank stock plunges nearly 60% in a week First Republic Bank's stock continued to sink Wednesday, an ongoing rout that has erased 60% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses. France 24 · Apr 26, 2023
Did Tweets Help Crash Silicon Valley Bank? Paper Shows New Social Media Risks A new study on Silicon Valley Bank's demise links depositor flight and stock crash with Twitter mentions. Kiplinger · Apr 26, 2023
WEKU · Apr 26, 2023 First Republic Bank shares plummet, reigniting fears about U.S. banking sector Trading of First Republic Bank shares were halted multiple times today, as investors sold off shares, alarmed by financial disclosures from the bank.
The Independent UK · Apr 26, 2023 Shares of First Republic Bank continue to slide Shares of First Republic Bank are continuing on their downturn before the market open Wednesday as investors remain jittery about the bank’s financial health
StockNews.com · Apr 26, 2023 Could Tech Industry Be Facing Headwinds as 3 Major Players Struggle With Uncertain Future The tech industry has been facing headwinds with year-long interest rate hikes, waves of job cuts, and trouble in the banking sector. Given the economic uncertainties ahead, I think fundamentally weak tech stocks Ouster (OUST), Alpine 4 (ALPP), and Integrated Media (IMTE) might be best avoided. Keep reading.
Al Jazeera · Apr 26, 2023 First Republic shares hit record low after depositors pull $100bn First Republic’s stock closes down nearly 50 percent amid questions about San Francisco lender’s future.
The Guardian - US · Apr 25, 2023 First Republic Bank shares fall 50% after reporting dramatic slump in deposits Bank now faces tough options to turn around its business with the creation of a ‘bad bank’ or asset sales possibilities
The Independent UK · Apr 25, 2023 Central banks end crisis offer as bank system fears ease Major central banks are standing down from their offer of daily emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about the stability of the global financial system
The Independent UK · Apr 24, 2023 First Republic clients pulled $100B in deposits during panic Depositors at First Republic Bank pulled more than $100 billion in deposits out of the bank during last month’s crisis
Fortune · Apr 24, 2023 Twitter poses a risk to the financial system and helped fuel the SVB run, says first major study to investigate the topic Academics warn that social media is a new “catalyst” for bank runs and argue that venture capitalists bear some of the blame for Silicon Valley Bank’s downfall.
The Independent UK · Apr 24, 2023 Banks are paying savers again after many years of low rates Banks are paying up for savers’ deposits in a much bigger way than they have in a long time
Axios · Apr 24, 2023 Twitter fueled run on Silicon Valley Bank, new paper finds Social media-fueled bank runs are a new risk to the financial system, and regulators don't know yet how to manage them.
The Guardian - US · Apr 24, 2023 ‘Market rules should benefit the majority of the citizenry’: historians Naomi Oreskes and Erik M Conway In their new book, The Big Myth, the authors document the rise of ‘market fundamentalism’ and Americans’ relationship with government regulations