OTTAWA, March 24 (Reuters) – President Joe Biden said on Friday federal deposit insurance could be tapped for deposits above $250,000 if other U.S. banks fail, expressing confidence that mid-sized US banks would survive the strains in the sector. Biden said U.S. banks were in “pretty” good shape, people’s savings were safe, and he didn’t … 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) – 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) – The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, mounting pressure on the largely unsettled industry. regulated. Coinbase shares fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it … 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
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
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