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The Latest Breaking News on Inside a bankruptcy committee’s ongoing investigation into the failure of Silicon Valley Bank

Army of lobbyists helped water down banking regulations

A handful of red-state Democrats were instrumental in helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018

The Independent UK

The Fed’s ‘stress tests’ were supposed to save banks from the exact crisis now engulfing markets. Here’s how they were so spectacularly wrong

“What the Fed saw as the big potential threats didn’t materialize, and the threat that did materialize they didn’t see coming,” says Thomas Hogan, a senior fellow at the American Institute for Economic Research.

Fortune

Lawmakers float ways to recapture deposit insurance discipline - Roll Call

The size of deposits covered by federal bank rescues has lawmakers talking about the discipline of a cap on deposit insurance.

Roll Call

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Why are banks collapsing? Signature Bank and SVB fail as UBS buys Credit Suisse

The aftermath of the SVB collapse led to heavy losses on the London Stock Exchange and a sharp fall in US banking stocks

Evening Standard

Silicon Valley Bank created a payroll nightmare. Here’s how to make sure it doesn’t happen to you

Silicon Valley Bank's collapse underscores the importance of a payroll continuity plan for startups.

Fortune

Opinion: What China Can Learn From SVB’s Collapse

The U.S. response to Silicon Valley Bank’s failure can offer valuable insights to China’s banking industry, an economist says

Caixin Global

Is it time to raise the FDIC deposit cap?

As it stands, things are murky: The cap exists, but it could be waived for banks that seem important enough

Axios

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How CFOs should be thinking about risk in light of SVB's collapse

CFOs are facing questions from boards, even if their company wasn't directly impacted.

Fortune

New York Community Bank agrees to buy a large portion of Signature Bank

The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries.

WEKU

US sees bank deposits stabilise even as some regional banks reel

Deposits in the country’s banking system are stabilising, Reuters reported citing unnamed US official.

Al Jazeera

New York Community Bank to buy failed Signature Bank

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday

The Independent UK

Collapse of Silicon Valley Bank Has Chinese Startups Worried

The now-failed SVB served roughly 2,200 clients in China and advised government regulators who were eager to build the country’s tech sector.

The News Lens

Midsize US banks ask FDIC to insure deposits for 2 years

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

Tribune News Service

Warren says she favors increasing FDIC’s deposit insurance cap

WASHINGTON — Sen. Elizabeth Warren is calling for more U.S. deposits to be covered by federal insurance and demanding government probes into whether lax regulation fueled this month’s collapse of Silicon Valley Bank and Signature Bank.

Tribune News Service

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The Guardian - US

Elizabeth Warren says Fed chair ‘failed’ and calls for inquiry into bank collapse

Progressive Democrat launches offensive on politicians on the left and the right who supported Trump-era deregulation of US banks

WEKU

Bank fail: How rising interest rates paved the way for Silicon Valley Bank's collapse

Silicon Valley Bank invested billions of dollars in super safe U.S. government bonds. But that choice exposed to the bank to a whole other set of risks.

The Guardian - US

US banks want socialism for themselves - and capitalism for everyone else

When banks like Silicon Valley Bank collapse, money floods to bigger ones like JPMorgan. Clients know they’re ‘too big to fail’

The Independent UK

Silicon Valley Bank collapse concerns founders of color

While Wall Street works to contain the biggest American bank failure since the 2008 financial meltdown, founders of startups who are people of color worry it could become even harder to secure financial support

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Axios

Midsize banks want unlimited FDIC insurance for 2 years

A coalition of midsize U.S. banks is reportedly calling on the government to insure all deposits for the next two years.

The Guardian - UK

The SVB debacle has exposed the hypocrisy of Silicon Valley

US tech innovators have a culture of regarding government as an innovation-blocking nuisance. But when Silicon Valley Bank collapsed, investors screamed for state protection

Axios

Bank sector set for third week of whipsaw action, questions

The banking sector is poised to head into a third week of existential questions and whipsaw volatility.

The Independent UK

Bank failures: Anger in Congress, but division on what to do

Congress is trying to figure out how best to respond to the abrupt failure of two U.S. banks

Asharq Al-Awsat

China's C.bank Warns SVB Failure Shows Impact of Rapid Global Rate Hikes

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.

Fortune

Who will bid for SVB?

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

Axios

Bank sector set for third week of whipsaw action, questions

The banking sector is poised to head into a third week of existential questions and whipsaw volatility.

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