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The Latest Breaking News from FDIC

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

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.

ABC News

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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.

Investors Business Daily

Investors React to Jim Cramer's Latest Banking Advice

Cramer has a plan for insuring bank deposits.

The Street

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.

Los Angeles Times

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.

Tribune News Service

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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 Street

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.

The Conversation

First Citizens submits offer for all of failed SVB: Source

Separate bids for the commercial and private banks due this week

Axios

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.

The Street

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.

Fortune

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…

The Street

What Happens To Education Institutions When A Bank Fails?

The recent failure of Silicon Valley Bank should have implications for the way many education institutions go about their banking

Tech&Learning

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WEKU

Could the banking turmoil affect you? 5 ways it might

There are possible consequences for regular people, small businesses and the economy.

AFP

US government seeks to avoid 'bailout' label amid banking turmoil

New York (AFP) - US authorities may have taken extraordinary steps in recent weeks to assure depositors of failed lenders Silicon Valley Bank and Signature Bank, but they are avoiding parallels with bailouts of the 2008 crisis -- which have been criticized.

WEKU

First Republic Bank shares sink to another record low, but stock markets are calmer

Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.

Fortune

The Fed’s ‘stress tests’ were supposed to save banks from the exact crisis now engulfing markets. Here’s how they were so spectacularly wrong

“What the Fed saw as the big potential threats didn’t materialize, and the threat that did materialize they didn’t see coming,” says Thomas Hogan, a senior fellow at the American Institute for Economic Research.

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Roll Call

Lawmakers float ways to recapture deposit insurance discipline - Roll Call

The size of deposits covered by federal bank rescues has lawmakers talking about the discipline of a cap on deposit insurance.

Investors Business Daily

Federal Reserve Rate Hike Odds Grow As Bank-Crisis Fears Ebb; S&P 500 Rises

With a Federal Reserve rate hike this week still in doubt, the S&P 500 rallied on Monday as the bank crisis showed signs of stabilizing.

The Street

Elon Musk Warns the Banking Crisis May Lead to Something Bigger

The crisis of confidence affecting regional banks poses a serious risk to the economy, the billionaire entrepreneur warns.

Investors Business Daily

Bank Crisis: UBS Buys Credit Suisse; U.S. Bank Upgraded, PacWest, N.Y. Community Bank Rally

Swiss bank UBS agreed to buy Credit Suisse Sunday in a government-backed deal; First Republic downgraded, plans stock sale.

AFP

Two weeks of banking turbulence

Paris (AFP) - After three US regional lenders collapsed and UBS swooped to buyout troubled Credit Suisse to avoid a wider crisis, AFP looks back at the last two weeks of banking turbulence:

Tribune News Service

US banks on bumpy path as First Republic’s troubles persist

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

The Street

Failed Signature Bank Finds a Buyer

The 40 branches of Signature Bank were acquired by a subsidiary of New York Community Bancorp on March 19.

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