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The Latest Breaking News from FDIC

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That's not a problem—until it is

"As long as people aren't all coming in at the same time and demanding that their deposits back, you're okay, but that's exactly what's been happening," Prof. Stephan Weiler told Fortune. "So the chances of facing those unrealized losses are going up."

Fortune

‘Gerbil banking’ preceded the Great Depression. We’re seeing it again today

Big banks are attracting more deposits–and putting money back into failing banks. A similar system existed in the run-up to the Great Depression.

Fortune

Best 5-Year CD Rates for July 2023

Here are the best 5-year CD rates as the Fed continues its campaign to raise interest rates to try to combat inflation.

Kiplinger

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Silicon Valley Bank might have just blown up a banking regulation that was put in place at the depths of the Great Depression

Why deposit insurance matters: Without it, America's press secretary had to put his money under a mattress in the 1930s.

Fortune

Why everybody's talking about deposit insurance

Regulators are setting a precedent with potentially long-lasting consequences and thin legal authority.

Axios

The SVB collapse 'contagion effect' will make it harder for startups, and more banks may fall

The SVB collapse didn't just leave the banking sector in disarray; technology startups are bracing for a harder time, and there are fears the global economy is at risk of recession.

ABC News

Michael Hiltzik: The Fed's errors have brought the economy to the brink of recession. Raising rates again might send it over

The Federal Reserve system was stung in late 2021 when it declared signs of emerging inflation to be "transitory" and delayed taking strong action to tamp down price increases.

Los Angeles Times

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US studies ways to insure all bank deposits if crisis grows

U.S. officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.

Tribune News Service

What does 'moral hazard' mean? A scholar of financial regulation explains why it's risky for the government to rescue banks

“Moral hazard” refers to the risks that someone or something becomes more inclined to take because they have reason to believe that an insurer will cover the costs of any damages.

The Conversation

First Citizens submits offer for all of failed SVB: Source

Separate bids for the commercial and private banks due this week

Axios

How the SVB collapse could impact startup funding

The bank has been a central artery in the startup financing ecosystem—and its failure has created uncertainty.

Fortune

What Happens To Education Institutions When A Bank Fails?

The recent failure of Silicon Valley Bank should have implications for the way many education institutions go about their banking

Tech&Learning

Could the banking turmoil affect you? 5 ways it might

There are possible consequences for regular people, small businesses and the economy.

WEKU

First Republic Bank shares sink to another record low, but stock markets are calmer

Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.

WEKU

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Fortune

The Fed’s ‘stress tests’ were supposed to save banks from the exact crisis now engulfing markets. Here’s how they were so spectacularly wrong

“What the Fed saw as the big potential threats didn’t materialize, and the threat that did materialize they didn’t see coming,” says Thomas Hogan, a senior fellow at the American Institute for Economic Research.

Roll Call

Lawmakers float ways to recapture deposit insurance discipline - Roll Call

The size of deposits covered by federal bank rescues has lawmakers talking about the discipline of a cap on deposit insurance.

Tribune News Service

US banks on bumpy path as First Republic’s troubles persist

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

Fortune

Coinbase offered $3.3 billion backstop to Circle as USDC teetered

In the hours before regulators expanded FDIC insurance, Coinbase and Circle came up with a backstop plan of their own.

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news in one place.

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Axios

Is it time to raise the FDIC deposit cap?

As it stands, things are murky: The cap exists, but it could be waived for banks that seem important enough

Los Angeles Times

Doyle McManus: Silicon Valley Bank's collapse may be a blessing in disguise

In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever.

WEKU

New York Community Bank agrees to buy a large portion of Signature Bank

The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries.

Al Jazeera

US sees bank deposits stabilise even as some regional banks reel

Deposits in the country’s banking system are stabilising, Reuters reported citing unnamed US official.

France 24

New York Community Bank to buy large part of failed Signature Bank, US agency says

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday.

The Independent UK

New York Community Bank to buy failed Signature Bank

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday

The News Lens

Collapse of Silicon Valley Bank Has Chinese Startups Worried

The now-failed SVB served roughly 2,200 clients in China and advised government regulators who were eager to build the country’s tech sector.

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