The Latest Breaking News from SVB

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.

Credit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank as regulators urged it to pursue a deal with Swiss rival UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess…

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

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 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.

This week, over 30 venture capital firms signed a pledge to address founders' mental health following SVB’s collapse.

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

Vanessa Pham, cofounder of Asian home cooking startup Omsom, shared screenshots and text messages as she tried to save her startup when SVB crashed.