House lawmakers rip top banking regulators in second hearing this week on meltdown

House lawmakers rip top banking regulators in second hearing this week on meltdown

House lawmakers ripped into top U.S. banking regulators on Wednesday, questioning their competence and saying examiners were asleep at the wheel, in a second day of congressional hearings this week into how Silicon Valley Bank and Signature Bank collapsed virtually overnight on March 10 and 12. “We need competent financial supervisors, but Congress cannot legislate … Read more

How Experts Say You Can Have Bank Deposits Over $250,000 Insured

How Experts Say You Can Have Bank Deposits Over 0,000 Insured

The collapse of Silicon Valley Bank and Signature Bank continues to bring scrutiny to FDIC coverage limits, which are typically $250,000 per depositor. On Friday, President Joe Biden said the FDIC could guarantee deposits above $250,000 if further instability occurs. However, experts say it is possible to get more insurance on your deposits on your … Read more

The First Republic rebounds 25% on Monday to lead the return of regional banks

The First Republic rebounds 25% on Monday to lead the return of regional banks

Bloomberg News reported on Saturday that U.S. officials are considering expanding federal programs that provide banks with liquidity, in part to help the First Republic while it searches for a buyer. CNBC reported on Saturday that deposit inflows to big banks from smaller regions have slowed significantly. Regional bank stocks have come under significant pressure … Read more

Janet Yellen changed the mood – again

Janet Yellen changed the mood – again

US Treasury Secretary Janet Yellen testifies before a subcommittee on March 23, 2023 in Washington, DC. Alex Wang | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new international markets newscast. CNBC Daily Open updates investors on everything they need to know, wherever they are. Like what you … Read more

Asian markets mostly down as investors weigh in on Yellen’s banking remarks

Asian markets mostly down as investors weigh in on Yellen’s banking remarks

5 hours ago Treasury Secretary Yellen says emergency actions to support banks could be used again if needed Treasury Secretary Janet Yellen said Thursday that federal emergency measures used to support customers of Silicon Valley Bank and Signature Bank could be used again if needed. “We used important tools to act quickly to prevent contagion. … Read more

US banking regulators slammed in EU after SVB collapse

US banking regulators slammed in EU after SVB collapse

Regulators and officials across the European Union are worried about possible contagion to their banking sectors after the recent turmoil in the United States. However, they believe that the United States should learn from some of the regulatory work put in place in the euro zone. Basel III is a set of reforms that strengthens … Read more

Crypto Firms Turn to Swiss Lenders After Silvergate and Signature Bank Fail

Crypto Firms Turn to Swiss Lenders After Silvergate and Signature Bank Fail

Cryptocurrency companies are scrambling to find institutions to do business with after the collapse of Signature Bank and Silvergate Capital. These companies have turned to crypto-friendly Swiss banks, inundating them with requests for banking services, according to several industry insiders who spoke to CNBC. Part of the reason companies seek out Swiss banks is the … Read more

JPMorgan CEO Jamie Dimon leads efforts to craft new rescue plan for First Republic Bank

JPMorgan CEO Jamie Dimon leads efforts to craft new rescue plan for First Republic Bank

Discussions, though preliminary, have focused on how the industry could arrange an investment that would increase the bank’s capital, according to people familiar with the matter. Among the options on the table, people said, is investment in the First Republic by the banks themselves. Eleven major banks banded together last week to deposit $30 billion … Read more

What Happens During a “Credit Crunch” and How You Can Prepare For It

What Happens During a “Credit Crunch” and How You Can Prepare For It

A credit crunch is a significant tightening of lending standards between banks. Loans are more difficult to obtain and become more expensive. The banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank will likely lead small and medium-sized institutions to prioritize a healthy balance sheet. The prospect of a recession led … Read more

Top 10 things to watch on Monday: Banks, Nvidia, Starbucks

Top 10 things to watch on Monday: Banks, Nvidia, Starbucks

Top 10 things to watch Monday, March 20 1. Wall Street looks stable to start the week and ahead of the Fed’s interest rate decision after Wednesday afternoon’s meeting. The market is putting about a 60% chance on a quarter-point rate hike and 40% on no hike as policymakers watch ongoing banking struggles. Here are … Read more