Expect to see more consolidation in the banking sector amid the latest industry turmoil, but not right away. Already, we have seen government-led acquisitions of Credit Suisse by UBS (UBS) as well as much of what was Signature Bank by Flagstar, a subsidiary of New York Community Bancorp (NYCB). Not to mention the continued efforts … Read more
Last updated: March 24, 2023 at 5:39 a.m. ET First published: March 24, 2023 at 5:10 a.m. ET Shares of Deutsche Bank tumbled on Friday, putting the health of another global systemically important bank in the spotlight ahead of the weekend. Shares of German lender XE:DBK fell 8% in Frankfurt trade and the Euro Stoxx … Read more
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
Regional banks shouldn’t be the only cause for concern over the potential fallout from the rapid pace of Federal Reserve interest rate hikes over the past year, a former top banking regulator said. “I don’t see regional banks as having a particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 … 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
Last updated: March 12, 2023 at 7:22 p.m. ET First published: March 12, 2023 at 6:35 p.m. ET State authorities shut down New York-based Signature Bank SBNY on Sunday after regulators shuttered Silicon Valley Bank on Friday in the biggest bank failure since the 2008 financial crisis. All Signature Bank depositors will be compensated, according … Read more
March 12, 2023 5:39 pm ET When Silicon Valley Bank collapsed following a run on deposits, many of its customers rushed to make up for it after being starved of funds. The severity of the exposure of the companies concerned depends on the share of their money trapped in uninsured deposits and the share of … Read more
