The Latest Breaking News from Silicon Valley Bank

Recent failures have some banking experts and policymakers asking whether it’s time to raise the FDIC deposit insurance limit.

Billionaire investors are worried. Stanley Druckenmiller sees a "hard landing" on the way and bond king Jeffrey Gundlach is warning that economic indicators are now "full-on recessionary."

The hedge fund manager foresees a change in the banking industry after a chain of events in the banking collapse.

Three recent and very serious US bank failures – Silicon Valley Bank (SVB), Signature and First Republic – have one common denominator: all three businesses were audited by one of the world’s major professional services firms, KPMG.

In a companywide email Wednesday morning, First Citizens Chairman and CEO Frank Holding Jr. said his Raleigh, North Carolina-based bank is laying off former employees of Silicon Valley Bank, the failed financial institution that First Citizens purchased two months ago.

After the high-profile failures of Silicon Valley Bank and Signature Bank, Federal Reserve Bank of Minneapolis President Neel Kashkari argued requiring banks to have higher capital levels could be the best solution to addressing the underlying weakness in the banking system.

Western Alliance sparked a regional bank rally Wednesday. Regional banks traded sharply higher early Thursday.

Watch live as the House Financial Services Committee questions Silicon Valley Bank (SVB) and Signature Bank executives on Wednesday, 17 May, on failings which led to the collapse of the banks earlier this year.

Greg Becker tells banking committee that takeover of SVB was ‘personally and professionally devastating’