The seal of the U.S. Federal Reserve before a news conference following a meeting of the Federal Open Market Committee (FOMC) in Washington, DC, U.S., Wednesday, March 22, 2023. Al-Draco | Bloomberg | Getty Images U.S. officials are considering expanding an emergency lending facility that would offer more support to banks, in an effort that … Read more
The influx of deposits from smaller banks to larger institutions, including JPMorgan Chase and Wells Fargo, has slowed in recent days, CNBC has learned. Deposit flight, which has rocked global markets and forced regulators to intervene to protect bank customers, began to improve around March 16, people with knowledge of the inflows at major banks … Read more
First Republic Bank worked overtime on Sunday to reassure customers it was safe to operate after the collapse of Silicon Valley Bank last week sparked fears of contagion in the banking sector. But its stock plunged nearly 50% ahead of Monday’s open despite attempts to reassure customers of the strength of its business. Early Sunday … Read more
First Republic Bank was under pressure following the collapse of Silicon Valley Bank. Photo: Devin Blaskovich for The Wall Street Journal Updated March 12, 2023 9:00 PM ET Bank of the First Republic FRC -14.84% said it strengthened its finances with additional funding from the Federal Reserve and JPMorgan Chase JPM 2.54% & What. The … Read more
Investors feared the fastest interest rate increases in decades meant something in the economy could snap. Last week it was. Now investors are wondering: what else could crack? Silicon Valley Bank was shut down on Friday after being hit by a run on its deposits, the second-largest bank failure in US history. The fallout rocked … Read more