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The Latest Breaking News from FDIC

Signature Bank seized to send banks a message, director says

A regulatory takeover of a New York-based bank was intended to send a message to banks to stay away from the cryptocurrency business

The Independent UK

The FDIC was created exactly for this kind of crisis. Here's the history

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

WEKU

SVB puts its $10 billion venture arm up for sale

SVB Capital blasted a letter, seen by Fortune, to its limited partners via email Monday morning, saying it was “continuing to operate” following the closure of the bank.

Fortune

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Seeing all red next to your bank's ticker? Here is what that means

“Consumers need to separate falling stock prices and volatile trading from their actual deposits in the bank,” explained Mark Neuman, financial advisor and CIO of Constrained Capital.

Fortune

Top Obama economist has a 3-point plan to prevent more bank failures

SVB’s collapse is dangerous to a stable financial system, and a blueprint of what banking should not do.

Fortune

How Silicon Valley Bank's collapse may affect crypto companies

SVB’s failure was the biggest bank collapse since Washington Mutual Bank in 2008.

Fortune

The SVB implosion shows why FDIC insurance is so important

For those with plenty of liquid assets, knowing how FDIC insurance works can save potential headaches down the line.

Fortune

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FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger

Michael Pascoe: Silicon Valley Bank downfall will increase nerves in a precarious sector

Silicon Valley Bank, an institution that specialised in tech, might seem a long way away from Australia, but we should take note.

The New Daily

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

ABC News

Avoiding the ‘B-word’: is the US response to SVB’s collapse a bailout?

Given the antipathy towards Wall Street bailouts in the 2008 crisis, Biden is at pains to stress that ‘no losses’ will be borne by taxpayers

The Guardian - US

Feds backstop all deposits of failed Silicon Valley Bank, second Bay Area bank plunges

SANTA CLARA, California — Federal officials moved to insure all deposits at failed Silicon Valley Bank, hoping to inoculate the banking system against contagion, but shares of another Bay Area regional bank plunged on Monday.

Tribune News Service

What happens to your money if your bank fails, plus expert tips on protecting your money

With more than $110 billion in assets, Signature Bank just became the third-largest bank failure in U.S. history. Here’s what consumers need to know about bank failures and protecting their money.

Fortune

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The Independent UK

Silicon Valley Bank collapse: What you need to know

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe

Investors Business Daily

Schwab Stock Drops Amid Financial Freakout — Is Your Money Safe?

Looks like the financial stock market freakout is taking down more than just regional banks. Charles Schwab is feeling the heat too.

Investors Business Daily

SVB Financial Crash: 15 Years After Bear Stearns, Has The Fed Upgraded Its Response?

What's the federal response to failing banks 15 years after Bear Stearns crumbled?

Investors Business Daily

Dow Jones Rises With Gold, Bitcoin Amid Bank Sell-Off; Analysts See Rate Freeze In March

The Dow Jones Industrial Average rose at noon after early volatility Monday, following last week's steep sell-off.

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Investors Business Daily

Fed May Pause Rate Hikes As Bank Stocks Keep Sliding, Despite New Rescue Fund

The Federal Reserve may not hike next week as the failure of SVB and two other banks shows the risk of moving too fast. Bank stocks fell further Monday.

Chicago Sun-Times

‘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.

Reason

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

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

Investors Business Daily

Bank Crisis: Bank Rally Slows; Moody's Targets These Banks For Downgrades

Financial rally turns mixed Tuesday following regulators move to contain the bank crisis. Moody's targets six banks for ratings downgrades.

Investors Business Daily

Dow Jones Reverses On SVB Rescue Plan; First Republic, Charles Schwab Crash On Bank Fears

The Dow Jones fell Monday, as the FDIC guaranteed all deposits of SVB Financial. First Republic crashed 75% on ongoing bank fears.

Investors Business Daily

'Is My Money Safe?' Financial Failures Spark Worry

The failure of Silicon Valley Bank is prompting all investors to ask themselves the question: Is my money safe? And if you don't know, now's the time to look.

Axios

Let the bailout debate begin

If a bailout doesn't cost anything, is it really a bailout?

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