The Latest Breaking News from Silicon Valley Bank

After Silicon Valley Bank collapsed, shaking world markets, Nobel economics prize winner Joseph Stiglitz says US authorities "did the right thing" by providing federal money to protect deposits. But the economist also says the financial system needs a rethink to properly bring it into the digital era.

A senior official at the People's Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper Shanghai Securities News reported.

The Stock Exchange of Thailand experienced its most volatile week of the year, with gains and losses of more than 40-50 points, as did global bourses as a bank run led to the collapse of Silicon Valley Bank (SVB) and eroded confidence in US lenders.

When Silicon Valley and Signature banks failed in early March 2023, government regulators rushed in to guarantee deposits and protect bank customers. Under current banking regulations, though, there was no obligation for the government to step in.

The embattled lender's dividend cut was just the latest sign of instability in the banking industry.

The sudden collapse of Silicon Valley Bank left its investors reeling, shocked and unsure of what had happened to their funds. SVB was one of the top 20 banks in the United States, and many had trusted their money with the bank, unaware of the crisis that was brewing.

WASHINGTON — President Joe Biden on Friday urged Congress to pass legislation that would give the Federal Deposit Insurance Corporation authority to “claw back” executive pay at failed banks and to bar the executives from jobs in the banking industry.

It's a familiar cycle: Boom, bust, then bailout. Now everyone is wondering where the financial regulators were

The sudden collapse of two U.S. banks last week left many people wondering about the safety of their own deposits, the health of the banking system and consequences down the road.