WASHINGTON, March 24 (Reuters) – The U.S. multi-regulatory Financial Stability Oversight Board agreed on Friday that the U.S. banking system remains “sound and resilient” despite strains on some institutions, the U.S. Treasury said in its latest statement. to calm nervous markets and bank depositors. In a reading from a closed-door meeting chaired by Treasury Secretary … Read more
WASHINGTON, March 23 (Reuters) – For the fourth time in a week, U.S. Treasury Secretary Janet Yellen took a microphone on Thursday in a bid to reassure Americans about the safety of the U.S. banking system, each time with a subtle change of message. But the bankers and Wall Street never heard what they longed … Read more
NEW YORK, March 23 (Reuters) – Citizens Financial Group Inc (CFG.N) is working on a bid to acquire the private banking business of bankrupt Silicon Valley Bank, two people familiar with the matter said on Thursday. Citizens, one of the largest U.S. regional banks, is preparing to bid for the firm, which is called SVB … Read more
March 23 (Reuters) – The Bank of England followed the Federal Reserve and the Swiss National Bank in raising interest rates on Thursday as policymakers continued their fight against inflation amid ongoing instability. rippled through the global banking system this month. . Investors had wondered if central banks could continue their tightening policy after the … Read more
March 23 (Reuters) – Hindenburg Research disclosed short positions in Block Inc on Thursday and alleged that the payments company run by Jack Dorsey had overstated its user numbers and understated its cost of acquiring users. clients. Shares of Block fell 20% to $57.85 in premarket trading after the report. If the losses continue throughout … Read more
March 22 (Reuters) – Citigroup Inc (CN) CEO Jane Fraser expressed confidence in U.S. banks on Wednesday after a series of shutdowns rattled investors and fueled turmoil in global financial markets. “The banking system is pretty solid,” and the major regional banks are well capitalized, Fraser told the Economic Club of Washington DC on Wednesday. … Read more
WASHINGTON, March 22 (Reuters) – U.S. Treasury Secretary Janet Yellen told lawmakers on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing “blanket insurance” for bank deposits following the collapse of two major US banks this month. Some banking groups have urged Congress to temporarily guarantee all U.S. bank deposits, a move … Read more
March 22 (Reuters) – Last week’s banking sector turmoil had at least one silver lining for U.S. homebuyers: lower mortgage interest rates. Interest rates on America’s most popular home loan fell the most in four months last week after Silicon Valley Bank collapsed and emergency measures to shore up the broader banking system pushed investors … Read more
NEW YORK, March 22 (Reuters) – As embattled First Republic Bank (FRC.N) considers its options, analysts at Morgan Stanley say there is a “bullish case” for the stock if regulators assure the customer deposits until the end of the banking crisis. First Republic, whose shares have lost much of their value since the start of … Read more
US authorities support depositors UK deal ends frantic weekend talks UK Finance Minister: Safe Deposits LONDON, March 13 (Reuters) – HSBC (HSBA.L) bought the struggling UK arm of Silicon Valley Bank on Monday for a token pound, rescuing a key lender to Britain’s tech start-ups and helping to curb fallout from the biggest bank failure … Read more