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The Latest Breaking News from FDIC

Best No-Penalty CD Rates: Lock in Rates at 4%

No-penalty CDs provide a high return while giving you the flexibility to access your cash whenever needed. Check out Kiplinger's top choices.

Kiplinger

The banking crisis has a silver lining. Businesses might actually start protecting their cash

Humans are naturally quite bad at projecting risk. We rarely think about what might happen if there is a sudden ban run and our deposits are in peril.

Fortune

Mercury Takes Aim At Replacing Silicon Valley Bank As Tech Hubs Go-To Bank And Lender

Silicon Valley Bank’s collapse has paved the way for other banking institutions to step up and meet demand for venture debt

Zenger

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After the Recent Banking Crisis, What Can You Bank On?

Now would be a good time to take stock of how your nest egg may be exposed in a banking crisis. Here are five things you should know about.

Kiplinger

Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

Los Angeles Times

FDIC chair Gruenberg gets heat from lawmakers over bargain basement SVB deal

Shares in regional lender First Citizens skyrocketed this week after scooping up SVB on the cheap, prompting questions from Congress whether the FDIC negotiated a poor deal that will now cost banks $20 billion.

Fortune

Community bank CEO: ‘Congress must raise the bank deposit insurance limit to $10 million’

Exception-based coverage signals to depositors that they might get some extra protection at a systemically important bank–and compounds risk.

Fortune

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In the wake of SVB collapse, the White House is calling for new rules for regional banks

The administration wants to reverse some Trump-era policies

Axios

Biden Eyes New Regulations As Congress Dives Into Silicon Valley, Signature Bank Failures

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

Zenger

Bipartisan group of senators offer clawback bill for bank failures

WASHINGTON — A bipartisan group of senators released draft legislation Wednesday that would claw back executive pay in the five years leading up to a bank’s failure, following President Joe Biden’s call on Congress to take action.

Tribune News Service

Bipartisan group of senators offer clawback bill for bank failures - Roll Call

Four senators from both parties released a draft bill to claw back executive compensation in the five years leading up to a bank failure.

Roll Call

Karl W. Smith: Insurance for all bank deposits is a manageable cost

A group of conservative Republicans representatives known as the House Freedom Caucus came out last week against any proposal that would lift the cap on deposit insurance, currently set at $250,000. Members of U.S. Congress on both sides of the aisle are understandably cautious about taking such a dramatic step…

Tribune News Service

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

The Conversation

Key takeaways from the Senate’s bank failure hearing

Amid all the finger-pointing, Senators and speakers said more monitoring was needed in the banking sector.

Fortune

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Kiplinger

How to Protect Your Cash and Investments in a Banking Crisis

A focus on FDIC insurance and Treasury-only money market or bond fund options can help safeguard investments when a banking crisis threatens.

Chicago Sun-Times

Fed official says banking rules are under review in the wake of SVB failure

Michael Barr, the nation’s top banking regulator, said Silicon Valley Bank was warned in the fall of 2021 that its interest rate model was not ‘aligned with reality.’

Salon

FDIC reveals SVB "billionaire bailout"

"The core reason SVB's depositors got bailed out had little to do with morals or even financial risk," critic says

WEKU

5 things we learned from the Senate hearing on the Silicon Valley Bank collapse

A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse

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news in one place.

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Kiplinger

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.

Tribune News Service

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.

Zenger

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

Axios

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.

Roll Call

Fed’s Barr: SVB ignored ‘bread and butter’ banking issues - Roll Call

The Fed official in charge of bank supervision said SVB was warned about its risks and that it ignored “bread and butter” banking issues.

Fortune

Here's how First Citizens should approach the SVB acquisition, according to experts

Communicating quickly to try and retain the best clients is a pivotal move.

Axios

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

The difference between the bank failures of 2008 and today.

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