WASHINGTON—Treasury Secretary Janet Yellen said regulators may need to tighten banking rules after the collapse of Silicon Valley Bank and Signature Bank, arguing that the recent turmoil is a sign that efforts to strengthen the financial system are incomplete. Speaking at an economic conference on Thursday, Ms Yellen questioned whether the regulatory system she helped … Read more
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
In the wake of recent market volatility and sharp falls in share prices, Morgan Stanley warned that the European banking sector was “not as attractive as it used to be”. Shares of Deutsche Bank fell on Friday as concerns over the stability of European banks lingered after the forced acquisition of troubled Credit Suisse by … Read more
Gold prices have more room for improvement and could reach $2,600 an ounce. Investors turned to gold and Treasuries after the collapse of the struggles of Silicon Valley Bank and Credit Suisse. Gold’s all-time high was $2,075 in August 2020, according to data from Refinitiv. Investors flocked to gold and Treasuries as bank stocks were … Read more
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
WASHINGTON — The Federal Reserve raised concerns about risk management at Silicon Valley Bank at least four years before its failure earlier this month, documents show. In January 2019, the Fed issued a warning to SVB SIVB -60.41% on its risk management systems, according to a presentation released last year to employees of SVB’s venture … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
The liquidation of regional banks is overdone, with four names looking particularly attractive at these levels, according to UBS. While bank stocks rose on Thursday, volatility increased this week. The banking sector began to nose dive shortly before the Silicon Valley Bank collapse and continued this week, although regulators said on Sunday they would back … Read more
The Bank of England announced on Friday that, “in the absence of any other significant information”, it would place Silicon Valley Bank UK in insolvency proceedings. More than 200 companies – depositors with SVB UK – wrote to the UK Treasury on Saturday asking for help. HSBC UK announced at 7am London time on Monday … Read more
Silicon Valley Bank executives went to Goldman Sachs Group Inc. GS -3.09% end of February looking for advice: they needed to fundraise, but weren’t sure how to do it. Soaring interest rates had weighed heavily on the bank. Deposits and the value of the bank’s bond portfolio had fallen sharply. Moody’s Investors Service was preparing … Read more
