US regulators say banking system ‘sound and resilient’

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

Exclusive: Citizens Financial considering bid for SVB’s private bank, sources say

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

Central banks continue to hike rates amid banking turmoil

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

Hindenburg shorts Jack Dorsey’s Block payment firm, shares fall

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

Citigroup CEO says ‘this is not a credit crisis’ after US bank failures

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

First Republic could rally if FDIC insures deposits – analyst

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

HSBC saves the UK branch of the distressed Silicon Valley Bank

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

Global markets brace for aftershocks as SVB collapse reverberates

LONDON, March 12 (Reuters) – Markets were set for a bumpy ride this week as the fallout from the collapse of startup lender Silicon Valley Bank (SVB), the biggest U.S. bank failure since the crisis fiscal 2008, coincide with key economic data and political meetings. US inflation figures for February are due out on Tuesday, … Read more

The collapse of the SVB could add to the anxiety of Chinese equity investors

HONG KONG, March 12 (Reuters) – Chinese stock investors, already disappointed by Beijing’s weaker-than-expected economic growth target for the year, will be further discouraged by the sharp collapse of U.S. lender SVB Financial Group, market participants said. China’s CSI300 index (.CSI300) fell 4% last week, while Hong Kong’s Hang Seng (.HSI) fell 6% amid China’s … Read more

US weighs new fund to guarantee deposits if more banks fail, according to Bloomberg News

March 11 (Reuters) – The U.S. Federal Reserve and Federal Deposit Insurance Corp are considering a fund that would allow regulators to prop up more deposits at banks struggling in the wake of the Silicon Valley meltdown Bank, Bloomberg News reported on Saturday. Regulators have discussed the new special vehicle in conversations with bank executives … Read more