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The Latest Breaking News from Silicon Valley Bank

How CFOs should be thinking about risk in light of SVB's collapse

CFOs are facing questions from boards, even if their company wasn't directly impacted.

Fortune

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.

Los Angeles Times

Silicon Valley Bank's demise animates early days of California's 2024 US Senate contest

With a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts.

Los Angeles Times

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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.

WEKU

Explainer: are we in a banking crisis?

The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing

The Guardian - AU

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.

Al Jazeera

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.

France 24

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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 Independent UK

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.

The News Lens

Australian banks ‘unquestionably strong’ despite global uncertainty in sector, RBA says

Assistant governor of the Reserve Bank says local banks are protected by strong balance sheets despite ‘strained’ conditions overseas

The Guardian - AU

Credit Suisse is the car crash in its own Bonfire of the Vanities

The name's Bond – unhedged Treasury bond. Jonathan Milne argues that bond traders have again become sexy, for all the wrong reasons.

Newsroom.co.nz

Warren says she favors increasing FDIC’s deposit insurance cap

WASHINGTON — Sen. Elizabeth Warren is calling for more U.S. deposits to be covered by federal insurance and demanding government probes into whether lax regulation fueled this month’s collapse of Silicon Valley Bank and Signature Bank.

Tribune News Service

What happened to Credit Suisse and why are banks needing bailouts again?

Could isolated failures herald another global banking crisis?

The Independent UK

UBS to take over 167-year-old rival Credit Suisse

Deal done: UBS will buy Credit Suisse after increasing its offer to more than $US2 billion, the Financial Times reports

The New Daily

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Axios

Warren calls for investigation into the Fed amid banking turmoil

"The fed doesn't just get to do its own investigation," Warren said.

The Guardian - UK

Silicon Valley Bank’s collapse will not be a one-off – a banking crisis was long overdue

We now know what happens when central banks raise rates and reverse QE

The Guardian - UK

Slash interest rates and stop bond sales, ex-policymaker tells Bank of England

Exclusive: David Blanchflower urges rethink after collapse of Silicon Valley Bank and lifeline thrown to Credit Suisse

The Guardian - UK

UBS agrees to takeover of stricken Credit Suisse for $3.25bn

Swiss government forces through takeover at well below market value amid fears of global banking crisis

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WEKU

Bank fail: How rising interest rates paved the way for Silicon Valley Bank's collapse

Silicon Valley Bank invested billions of dollars in super safe U.S. government bonds. But that choice exposed to the bank to a whole other set of risks.

The Guardian - US

US banks want socialism for themselves - and capitalism for everyone else

When banks like Silicon Valley Bank collapse, money floods to bigger ones like JPMorgan. Clients know they’re ‘too big to fail’

The Guardian - US

‘We have money and power’: older Americans to blockade banks in climate protest

Demonstrations at 90 sites are billed as first major action by older activists: ‘It’s not fair to ask 18-year-olds to solve this’

The Independent UK

Silicon Valley Bank collapse concerns founders of color

While Wall Street works to contain the biggest American bank failure since the 2008 financial meltdown, founders of startups who are people of color worry it could become even harder to secure financial support

Axios

Midsize banks want unlimited FDIC insurance for 2 years

A coalition of midsize U.S. banks is reportedly calling on the government to insure all deposits for the next two years.

The Guardian - UK

Millions paid in bonuses to UK Silicon Valley Bank staff days after £1 rescue

Workers reported to have received payouts from ‘modest’ pool of £15m-£20m following takeover deal by HSBC

The Guardian - UK

Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis

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