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The Latest Breaking News from Silicon Valley Bank

Silicon Valley Bank's failure: Could something similar happen in Canada?

American business magnate Warren Buffett once famously observed: “You don’t find out who has been swimming naked until the tide goes out.”

The Conversation

Debt limit breach would be ‘devastating’ for banks, Yellen says at hearing

WASHINGTON — Treasury Secretary Janet L. Yellen told senators on Thursday that the banking system remains sound in the aftermath of Silicon Valley Bank's collapse. But she warned that failure to raise the debt limit in time would be devastating for banks after the turmoil.

Tribune News Service

Fears of another financial crisis remain despite £45bn Credit Suisse lifeline

The Swiss giant went cap-in-hand to the country’s central bank to shore up its finances. Experts called it a vital intervention to stem fears about banking system

Daily Mirror

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Experts, banks look for ideas to stop next bank failure

The warning signs were all there

The Independent UK

What happened with Credit Suisse, is it connected to Silicon Valley Bank, and what does it mean for Australia?

Global financial markets are on edge after Credit Suisse shed nearly a quarter of its value on the stock market. How did it happen, is it related to Silicon Valley Bank's collapse, and could Australian banks be impacted?

ABC News

First Republic becomes the latest bank to be rescued, this time by its rivals

The lenders including J.P.Morgan and Wells Fargo would deposit $30 billion into the beleaguered midsized lender as part of the rescue.

WEKU

Lawmakers are split on how to respond to the recent bank failures

Days after the failure of two regional banks shook the financial industry, lawmakers say they want answers but disagree on what role Congress should play right now.

WEKU

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New CEO of failed Silicon Valley Bank was once fired from his Charlotte banking job

The new CEO of failed Silicon Valley Bank is a familiar name to many in Charlotte’s banking community — Tim Mayopoulos was fired as general counsel of Bank of America in 2008 in the midst of the financial crisis and escorted out of the office by an HR representative.

Tribune News Service

Banks said to be working on rescue plan for First Republic

Some of America’s largest banks are working on a rescue package for First Republic Bank

The Independent UK

Credit Suisse and SVB banking crises are 'not a repeat of 2008'

The sudden collapse of Silicon Valley Bank and renewed crisis at Credit Suisse are raising fears of another global financial crisis, but most experts agree that we shouldn't worry too much … yet.

ABC News

Elizabeth Warren slams Powell for weak regulation, oversight of SVB

Senator Elizabeth Warren blasted Federal Reserve Chair Jerome Powell for “an astonishing list of failures” that contributed to the collapse of Silicon Valley Bank and Signature Bank in a letter to the Fed chief Wednesday.

Tribune News Service

Silicon Valley Bank flagged risks from remote work on performance in its latest annual report

Remote work “reduced productivity and/or significant disruptions in our business operations," SVB said in its 2023 annual report published last month.

Fortune

How crypto Ponzi scheme threatens banks

It’s the big bank failure story no one is talking about

Salon

The DOJ And The SEC Probing The Investigations Of The Collapse Of Silicon Valley Bank

The investigation of the failure of Silicon Valley Bank involve shares that sold and bonds that were bought by the bank

Zenger

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Investors Business Daily

Banking Crisis News

As the banking crisis triggered by the collapse of Silicon Valley Bank unfolds, track the latest financial news and analysis.

Al Jazeera

Yellen seeks to reassure US legislators after bank collapse

Treasury chief tells lawmakers customers ‘can feel confident that their deposits will be there when they need them’.

Roll Call

Yellen: Debt limit breach would be 'devastating' for banks - Roll Call

Treasury Secretary Janet L. Yellen told senators on Thursday that the banking system remains sound despite Silicon Valley Bank's collapse.

The Independent UK

What happened to Credit Suisse and what’s at stake if it goes bust? REDIRECTED

The Asian and Australian stock markets fell following the panic

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Evening Standard

Silicon Valley Bank: what really happened and what it means for London

Silicon Valley Bank almost collapsed this week until leading figures in the US and UK stepped in — but what is the bank and why did it create such panic? Rohan Silva reports

Salon

Top GOPer: No need for tougher bank rule

Critics say Mike Crapo's law exempting SVB and others from stricter requirements led to collapse

The Guardian - US

Janet Yellen says ‘serious risk of contagion’ prompted intervention in banking crisis – as it happened

Senate finance committee holds hearing on bank’s collapse and the role relaxing banking regulations had in the crisis

The Independent UK

Janet Yellen says US banking system ‘remains sound’ and Americans should be ‘confident’

Treasury Secretary appears before the Senate Finance Committee a week after the second-largest bank collapse in the nation’s history

The Conversation

US regulators avoided a banking crisis by swift action following SVB's collapse – but the cracks it exposed continue to weaken the global financial system's foundation

U.S. regulators’ swift reaction to the collapse of Silicon Valley Bank and two other lenders partially restored calm to markets, but concerns remain over the stability of the global financial system.

WEKU

Credit Suisse shares soar after the bank secures a $54 billion lifeline

Shares of the Swiss banking giant rallied significantly Thursday after Switzerland's central bank agreed to lend it $54 billion.

The Independent UK

Yellen to tell Congress US banking system 'remains sound'

Treasury Secretary Janet Yellen says the U.S. banking system remains sound

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