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The Latest Breaking News from US Federal Reserve

France says no risk of contagion as governments handle SVB collapse fallout

The bankruptcies of US banks Silicon Valley Bank (SVB) and Signature do not pose a danger to French financial institutions, Finance Minister Bruno Le Maire said Monday as authorities in the US and UK took extraordinary steps to stop a potential banking crisis.

France 24

The collapse of Silicon Valley Bank reveals cracks in a system that leans on government bonds

Unlike the debacle surrounding the collapse of Sam Bankman-Fried's crypto kingdom FTX late last year, the sudden demise of Silicon Valley Bank last weekend has its origins at the other end of the financial spectrum, explains Ian Verrender.

ABC News

HSBC to buy Silicon Valley Bank UK after weekend of crisis talks

Chancellor Jeremy Hunt said deposits will be protected

The Independent UK

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Asian shares mixed despite jitters after US bank failure

Asian shares are trading mixed, shaken by a Wall Street tumble that set off worries the biggest United States bank failure in nearly 15 years might have ripple effects around the world

The Independent UK

Regulators to protect SVB, Signature depositors, but no bailout - Roll Call

Federal regulators said Sunday they would protect all Silicon Valley Bank depositors, including those above the deposit insurance limit.

Roll Call

Backstopping SVB's fallout is the first unintended consequence of Fed's zero interest rate experiment

SVB's collapse has triggered a historic reframing of depression-era deposit insurance.

Fortune

Banking system is 'safe', Biden assures Americans after SVB collapse

US President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse of Silicon Valley Bank (SVB) and the federal takeover of a second bank.

France 24

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US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

Tribune News Service

Markets at risk of more upheaval as banking uncertainty persists

Traders are steeling themselves for the risk of more turbulence after the biggest U.S. bank collapse since the 2008 financial crisis sent shockwaves through markets.

Tribune News Service

Asian shares mostly sink on jitters after US bank failure

Asian shares have mostly fallen, shaken by a Wall Street tumble that set off worries the biggest U.S. bank failure in nearly 15 years might have ripple effects around the world

The Independent UK

US stems SVB fallout by backing customer deposits

US officials will shore up deposits to stem any broader financial fallout from the sudden collapse of Silicon Valley Bank.

The New Daily

Feds say Silicon Valley Bank clients will get funds as another troubled bank is shuttered

The Treasury, FDIC and Federal Reserve said clients of Silicon Valley Bank would be protected as the agencies sought to find a buyer and stop further bank runs.

Chicago Sun-Times

US plans emergency measures to backstop banks after SVB

The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the U.S. seeks to stave off a deeper crisis after SVB Financial Group’s failure.

Tribune News Service

Signature Bank takeover could leave crypto firms scrambling

The Treasury, Federal Reserve, and FDIC jointly announced that depositors would be made whole.

Fortune

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Axios

U.S. regulators will protect all Silicon Valley Bank depositors to stem fallout

Federal banking regulators took aggressive new actions aimed at preventing depositors' funds in failed Silicon Valley Bank from losing money.

Fortune

Mark Cuban urges Fed to buy Silicon Valley Bank debt ‘immediately,’ says it’s ‘not the wealthy taking the hit’

It's entrepreneurs and their employees and vendors who are "feeling the pain," Cuban said.

The Independent UK

Trump blamed over Silicon Valley Bank collapse for watering down financial regulations

Fifty Republican and 17 Democratic senators voted to reduce regulations on the bank

Tribune News Service

As banks topple, regulators face reckoning on week of mayhem

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.

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StockNews.com

Making Sense of a Wild Week in the Markets

It's been another doozy of a week for the S&P 500 (SPY). We had Fed Chair Jerome Powell giving his semiannual testimony before the Senate Banking Committee. We had the latest job openings summary from January. We had a surprise run on a bank in Silicon Valley push the entire…

StockNews.com

Bears FIRMLY Back in Charge of Stocks Once Again!

Did you ever really buy the bullish argument touted by some to start the new year? Yes, it was an amusing fable that has now lost its luster as the bears are firmly back in charge as proven by the break below the 200 day moving average for the S&P…

The Conversation

Silicon Valley Bank biggest US lender to fail since 2008 financial crisis – a finance expert explains the impact

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

Tribune News Service

Fed rate outlook overshadowed as SVB collides with jobs report

A hard job just got harder for the Federal Reserve after the biggest U.S. bank failure since 2008 overshadowed another strong payroll report.

Los Angeles Times

Michael Hiltzik: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours

All banking crises throughout history have shared a common element: Short-term depositors try to withdraw their money from institutions locked into long-term assets.

Fortune

SVB's collapse could lead to 'contagion' among regional banks—but experts say it's not a systemic risk to the entire financial system

“We do not believe there is contagion risk for the rest of the banking sector on the heels of SVB's struggles,” David Trainer, CEO of the investment research firm New Constructs, told Fortune.

Fortune

How did the tech world's biggest bank collapse in under a week?

The tech and VC sector's most reliable lender collapsed literally overnight. How did that happen?

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