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The Latest Breaking News from FDIC

Bank failures and rescue test Yellen's decades of experience

Treasury Secretary Janet Yellen worked against the clock with other regulators, lawmakers and business leaders to come up with a plan that would prevent a full blown banking crisis

The Independent UK

Silicon Valley Bank failure unites Democrats and Republicans in fundraising

WASHINGTON — The collapse of Silicon Valley Bank has united deeply divided lawmakers toward a singular goal: raising money off the news.

Tribune News Service

Best Money Market Accounts

Money market accounts are interest-bearing accounts at a bank or credit union, typically paying high interest rates. Here are the best ones.

Kiplinger

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Commentary: The Fed just raised interest rates. Does that mean there is no banking crisis?

Do we have a banking crisis in the United States or don’t we?

Los Angeles Times

U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That's not a problem—until it is

"As long as people aren't all coming in at the same time and demanding that their deposits back, you're okay, but that's exactly what's been happening," Prof. Stephan Weiler told Fortune. "So the chances of facing those unrealized losses are going up."

Fortune

Dow Jones Futures Fall As Deutsche Bank Becomes Latest Bank Pain Point

The stock market rally attempt slashed big gains in whipsaw fashion. Bank stocks tumbled as Moody's warned of risks of wider "turmoil."

Investors Business Daily

‘Gerbil banking’ preceded the Great Depression. We’re seeing it again today

Big banks are attracting more deposits–and putting money back into failing banks. A similar system existed in the run-up to the Great Depression.

Fortune

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Best 5-Year CD Rates for July 2023

Here are the best 5-year CD rates as the Fed continues its campaign to raise interest rates to try to combat inflation.

Kiplinger

Dow Jones Futures Rise After Fed Sell-Off; Apple, 5 Titans Mask Market Weakness

Techs led futures higher after Wednesday's Fed-led sell-off. Apple and other titans have masked market weakness

Investors Business Daily

Silicon Valley Bank might have just blown up a banking regulation that was put in place at the depths of the Great Depression

Why deposit insurance matters: Without it, America's press secretary had to put his money under a mattress in the 1930s.

Fortune

SVB Collapse: FDIC Removed $2 Billion Cash From Parent Company

The FDIC seized $2 billion from Silicon Valley Bank's former parent company, SVB Financial who may be on the hook for the bank's collapse.

The Street

Bank Stocks Falter After Fed Raises Rates, Repairs Continue

Bank stocks were mixed early Wednesday ahead of the Fed rate hike decision. Regional banks falter on First Republic, PacWest updates.

Investors Business Daily

PacWest Stock Slides After Scrapping Capital Increase Amid Deposit Slump

PacWest said its plans to raise new capital "would not be prudent" given "current volatility in the market and depressed market prices for regional bank stocks".

The Street

Why everybody's talking about deposit insurance

Regulators are setting a precedent with potentially long-lasting consequences and thin legal authority.

Axios

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ABC News

The SVB collapse 'contagion effect' will make it harder for startups, and more banks may fall

The SVB collapse didn't just leave the banking sector in disarray; technology startups are bracing for a harder time, and there are fears the global economy is at risk of recession.

Investors Business Daily

Indexes Close At Session Highs Ahead Of The Fed; Meme Stock GameStop On Fire After-Hours

Meme play GameStop GME stock is on fire after Tuesday's closing bell.

The Street

Investors React to Jim Cramer's Latest Banking Advice

Cramer has a plan for insuring bank deposits.

Los Angeles Times

Michael Hiltzik: The Fed's errors have brought the economy to the brink of recession. Raising rates again might send it over

The Federal Reserve system was stung in late 2021 when it declared signs of emerging inflation to be "transitory" and delayed taking strong action to tamp down price increases.

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news in one place.

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Tribune News Service

US studies ways to insure all bank deposits if crisis grows

U.S. officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.

The Street

Yellen Hints at Expanded Deposit Support; First Republic Soars, Bank Stocks Surge

Treasury secretary says 'similar actions' to the deposit guarantees for Silicon Valley Bank and Signature Bank 'could be warranted if similar institutions suffer deposit runs that pose the risk of contagion.'

The Conversation

What does 'moral hazard' mean? A scholar of financial regulation explains why it's risky for the government to rescue banks

“Moral hazard” refers to the risks that someone or something becomes more inclined to take because they have reason to believe that an insurer will cover the costs of any damages.

Axios

First Citizens submits offer for all of failed SVB: Source

Separate bids for the commercial and private banks due this week

The Street

Elon Musk Has a Bold Idea to End the Banking Crisis

The billionaire urges the federal government to guarantee all deposits in order to stop bank runs.

Fortune

How the SVB collapse could impact startup funding

The bank has been a central artery in the startup financing ecosystem—and its failure has created uncertainty.

The Street

Stocks Higher, Deposit Guarantees, Nvidia AI, Tesla Upgrade, Nike Earnings - Five Things To Know

Stock futures add to gains as bank crisis concerns ease; Treasury Said To Mull Expanded U.S. Bank Deposit Guarantees; Nvidia CEO Jensen Huang set for keynote address on AI technology; Tesla edges higher after Moody's lifts 'junk status' rating and Nike Q3 earnings on deck as rival Adidas staggers from…

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