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The Latest Breaking News on Financial Services

Banking System Is Sound, Regulators Say In The Face Of Flurry Of Questions From Senate Banking Committee

Regulators faced the U.S. Senate Committee in the collapse of Silicon Valley Bank and Signature Bank as the banks to address risk

Zenger

Why These 3 High Volume Financial Stocks Are Not Worth Buying

Volumes have soared with bottom fishers expecting gains through the residual value of sunken financial stocks Credit Suisse (CS), First Republic (FRC), and Silvergate (SI). However, with deflating asset prices amid increasing interest rates, it would be wise to avoid them altogether. Continue reading….

StockNews.com

One Of The Best Traders In Congress Sells Shares Of Distressed Regional Bank On Day Of Stock Crash

Several banks have collapsed in 2023, including Silvergate Capital, Signature Bank and Silicon Valley Bank, unit of SVB Financial

Zenger

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Study Reveals the Most Trusted Banks

A recent study reveals the top 15 most trusted banks, with one bank ranking as the most trusted for five consecutive years.

Kiplinger

US officials signal new rules for banks after SVB, Signature failures

Top U.S. financial officials on Tuesday outlined what’s likely to be the biggest regulatory overhaul of the banking sector in years, in an initiative aimed at addressing underlying issues that contributed to the collapse of Silicon Valley Bank and other U.S. regional lenders.

Tribune News Service

How A $700M Tech VC Firm Was Saved From SVB Collapse, And Why Its CEO Still Banks There

The collapse of Silicon Valley Bank has sounded an alarm for the entire banking sector as a VC Tech still banks there

Zenger

Nottingham hospitals spent £90million on shift cover in one year

The most expensive shift was £2,053

Nottingham Post

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Phone call scam warning as fraudsters claim to be gardai calling about suspicious bank transactions

The sophisticated scam comes from a phone number that looks quite legitimate and gardai have issued a statement

Dublin Live

The huge question created by SVB's failure

A huge open question is not whether bank supervisors can identify problems but what ought to happen when they do.

Axios

Anger as bank nurses and staff exempt from NHS Wales bonus cash

Unions say by not offering bank staff the one-off payment it is driving employees to work for agencies at a time when the Welsh Government needs to reduce the amount it spends on agency workers

Wales Online

Somerset leather goods firm Pittards looks to raise £255,000 as it struggles to ease credit issues

Yeovil-based leather goods producer saw its shares plummet 39% to 23p each last week

Birmingham Post

US senators grill banking regulators in first Silicon Valley Bank hearing

Lawmakers aim to determine how Silicon Valley Bank and Signature Bank failed, sparking fears of financial crisis

The Guardian - US

Small businesses weigh banking options amid bank turmoil

The recent banking turmoil has been a jolt for small businesses of all stripes, spurring many to scrutinize their banking services and mull whether or not they should make changes

The Independent UK

"Badwill" hunting: The difference between the bank failures of 2008 and today

The difference between the bank failures of 2008 and today.

Axios

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The Independent UK

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

The Guardian - UK

Bank of England ‘vigilant’ in wake of Silicon Valley Bank collapse, says Bailey

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

AVNetwork

How Lightware Solutions Empower Seamless Connectivity for Alaska Bank

Lightware's zero-latency MMX HDMI Matrix Switcher and Cisco solutions help solve many challenges for videoconferencing.

Evening Standard

Bank of England chief: HSBC was only reasonable bidder for Silicon Valley Bank UK

Other prospective bidders, Andrew Bailey said, either never submitted a firm offer or attached terms the Bank couldn’t agree to

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The Independent UK

Asian shares mostly rise on relief over US bank strength

Asian shares are higher as investors got some relief from worries over troubled U.S. lenders with a planned takeover of failed Silicon Valley Bank

The Independent UK

Fed official: SVB itself was main cause of bank's failure

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse

Bangkok Post

BKI allocates B1bn to buy local shares

SET-listed Bangkok Insurance (BKI) has set aside 1 billion baht for its investment in Thai shares this year, with a focus on banking stocks that are projected to yield higher returns than last year as interest rates rise, says chairman Chai Sophonpanich.

ABC News

Australian banks are boring, scrutinised … and safe, says APRA boss

In his first public speech, the chair of bank, insurance and super regulator APRA moves to reassure Australians that our banks are safe amid the recent turmoil on global financial markets.

The New Daily

Local banks ‘well-positioned’ to resist overseas storm

Australia's financial system is in a strong position to withstand a banking crisis overseas, say the financial services minister and banking association chief.

Tribune News Service

News briefs

Lawmakers open to Biden’s call to claw back SVB executive pay

AAP

Local banks 'well positioned' to resist overseas storm

Australia's financial system is in a strong position to withstand a banking crisis overseas, say the financial services minister and banking regulators.

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