SVB Financial Group
The SVB sale is close. The FDIC is seeking a settlement by Monday.
The Federal Deposit Insurance Corp. plans to announce its decision on the sale of Silicon Valley Bank this weekend, Barron’s Advisor has learned. A person familiar with the FDIC’s plans says the banking regulator hopes to introduce a resolution to the auction over the weekend. There are still many moving coins at the auction, which … Read more
Why analysts say banks will be fine
Betsie Van Dermeer | Stone | Getty Images Banks have experienced this recently. Earlier this month, Silicon Valley Bank and Signature Bank both saw their deposits plummet as customers quickly withdrew billions of dollars that financial firms had no cash to repay. The Federal Deposit Insurance Corporation seized failing banks and guaranteed all uninsured deposits, … Read more
Bill Ackman says US did the right thing in protecting SVB depositors
Billionaire investor Bill Ackman said the US government’s intervention to protect depositors after the Silicon Valley Bank implosion is “not a bailout” and is helping to restore confidence in the banking system. In a tweet, the Pershing Square CEO said Monday’s SVB fallout indicated the government had done the “right thing”. But not all Wall … Read more
Wall Street gears up for Silicon Valley’s next bank
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