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The Latest Breaking News from Signature Bank

It cost $22 billion to rescue two failed banks. Now the question is who will pay

Regulators need to decide how to recover the cost of rescuing Silicon Valley Bank and Signature Bank — and community banks across the country are warning they should not be on the hook.

WEKU

Developer of Signature Bank’s 24/7 payment system calls crypto ‘a distraction’

Tassat's CEO said other banks aren't inquiring about implementing its solution for crypto settlement.

Fortune

4 Stocks That Investors Should Buy During an Economic Downturn

Fears of a financial system collapse due to bank failures last month is rising. Investors have been dumping shares of banks despite assurances by the financial regulators. However, this presents an opportunity for contrarian traders to buy M&T Bank (MTB), Webster Financial (WBS), New York Community Bancorp (NYCB), and Pinnacle…

StockNews.com

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Bank failures likely to ‘exacerbate the existing liquidity crunch’ within the commercial real estate market

Experts in the commercial real estate space didn't mince words when speaking with Fortune: Buckle up, they say, for more CRE defaults.

Fortune

From stability to consolidation to the big crunch, here are the 3 questions every small business owner is asking about the banking system

The bank crisis could spark a credit crunch that will rock the economy. It'll be a major test for small businesses.

Fortune

ASX breaks seven-week losing streak on the back of stable commodity prices, builders Lloyd Group and Porter Davis collapse — as it happened

The ASX is on track to finish the day's trade with its first weekly gain in seven weeks as stable commodity prices bolster mining stocks. Look back on the day's events as they happened with our blog.

ABC News

Biden asks banking regulators to toughen some rules after recent bank failures

President Biden on Thursday urged banking regulators to take additional steps to reduce the risk of more mid-sized bank failures like Silicon Valley Bank and Signature Bank.

WEKU

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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

Janet Yellen says the Trump administration 'decimated' the Treasury's financial stability department and she's focused on repairing the 'cracks'

Yellen claimed many teams responsible for banking regulation were either drastically cut or completely eliminated before her tenure, and she’s had to “rebuild the financial stability infrastructure.”

Fortune

White House urges regulators to toughen rules after bank failures - Roll Call

The White House urged financial regulators to toughen rules on banks after several failures. A top House Republican criticized the move.

Roll Call

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

What bank CEOs should tell clients to reassure their money is safe

It’s up to bank CEOs to convince clients that their money is safe.

Fortune

GOP lawmakers accuse Fed of being lax before bank failure

Republican lawmakers accused top bank regulators of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference

The Independent UK

Senate committee questions federal regulators over US bank crisis

Tuesday marked the US Senate’s first public hearing into the collapse of Silicon Valley Bank in early March.

Al Jazeera

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ABC News

ASX closes higher as inflation falls for second month, US regulator slams Silicon Valley Bank for 'terrible' risk management

The Australian share market has closed higher for its third day in a row, while the ABS's latest inflation data shows cost-of-living pressure are easing, which may strengthen the case for the Reserve Bank to keep interest rates on hold next week.

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

Fortune

A famous market watcher who called the subprime mortgage crisis is warning that stocks are about to crash: 'It's the highest probability since COVID'

Larry McDonald developed a framework for analyzing stock market risk after his experience during the subprime mortgage crisis, and he says all his indicators are flashing warning signs.

Zenger

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

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Zenger

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

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.

The Guardian - US

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

Fortune

Banking crisis has ‘definitely’ tipped the U.S. closer to recession, warns top Fed official who was at the center of the 2008 bailout

“Not all of these stresses are behind us," warns Minneapolis Fed President Neel Kashkari, the former administrator of the Troubled Asset Relief Program.

Tribune News Service

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

WASHINGTON — President Joe Biden’s call for legislation that would allow regulators to claw back executive bonuses and stock sale proceeds in the lead up to the Silicon Valley Bank collapse has found a receptive audience on Capitol Hill.

McClatchy Washington Bureau

Will US consumers have to bail out struggling banks?

WASHINGTON — Could taxpayers wind up bailing out wealthy customers at banks such as Silicon Valley Bank, Signature Bank and others that are struggling?

Roll Call

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

Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.

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