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The Latest Breaking News from FDIC

FDIC recommends overhauling US insurance deposit system

The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring only as much as $250,000 in bank deposits

The Independent UK

The banking crisis is over, according to Jamie Dimon: “The banking system is very stable”

Dimon says that First Republic was the last of the troubled banks to fall.

Fortune

Stocks Mostly Higher on Corporate Earnings and Economic Optimism

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.24%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.40%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.17%. U.S. stock indexes this morning are mixed, with the...

Barchart

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FDIC recommends raising deposit insurance cap for businesses - Roll Call

The FDIC recommends that Congress raise the cap on deposit insurance for business payment accounts to avoid disruption in bank failures.

Roll Call

Markets Today: Stock Indexes Modestly Higher as JPMorgan Acquires First Republic

Morning Markets The S&P 500 Index ( $SPX ) ( SPY ) today is up +0.23%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up +0.31%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is up +0.06%. U.S. stock indexes this morning are...

Barchart

First Republic Bank collapses, seized

"Ultimately taxpayers will be on the hook," Sen. Elizabeth Warren warned

Salon

Regulators Seize First Republic Bank and Sell It to JPMorgan Chase

Plus: Twitter complies with a greater portion of government censorship requests, a judge allows an antitrust suit against Google to go forward, and more...

Reason

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Markets Today: Stock Index Futures Modestly Lower as JPMorgan Acquires First Republic

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.10%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.20%. U.S. stock index futures this morning are modestly lower. The markets are awaiting quarterly earnings results this week from Apple, Advanced Micro Devices, and Ford...

Barchart

Microsoft chief scientific officer Eric Horvitz says few aspects of humanity will be replaced by A.I.

“I put a lot of my time and attention into this, because I think it really threatens to erode democracies,” says Horovitz.

Fortune

JP Morgan to take over US bank First Republic after lender becomes third to collapse

Banking giant JP Morgan will take over $295 billion (£236 billion) in assets and liabilities of First Republic Bank after the third major US institution collapse in the last two months

Daily Mirror

Is my money safe? What you need to know about bank failures

Recent bank failures may have you worried about your money

The Independent UK

Five Places to Put Cash Rather Than in the Bank

FDIC sweep programs, money market funds, Treasuries and more could be alternative places to stash cash instead of keeping it in the bank.

Kiplinger

JP Morgan boss plays down risk of crisis after second biggest bank failure in US history

Jamie Dimon’s remarks follow $10.6bn takeover brokered by US regulators to buy most of failed First Republic

The Guardian - UK

First Republic Bank seized by US regulators and sold to JP Morgan Chase

Drastic intervention to contain third US bank failure in two months

The Independent UK

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WEKU

JPMorgan Chase buys troubled First Republic Bank after U.S. government takeover

JPMorgan Chase is taking over First Republic after the troubled bank was placed in the FDIC's receivership in the latest failure in the banking system.

The Independent UK

First Republic in limbo as US regulators juggle bank's fate

Regulators are searching for a solution to First Republic Bank’s woes, hoping to find a way forward before U.S. stock markets open Monday

Chicago Sun-Times

First Republic Bank’s fate is up in air as regulators seek a solution to its woes

First Republic is seen as the next bank likely to fail after Silicon Valley Bank, Signature Bank because of its amount of uninsured deposits and exposure to low interest rates.

The Independent UK

First Republic up in air as regulators juggle bank's fate

Regulators continued their search for a solution to First Republic Bank’s woes over the weekend before stock markets were set to open Monday

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The Guardian - UK

Time running out for US financial firms to bid for ailing bank First Republic

Deadline of Sunday set for companies such as JPMorgan Chase to table offer for California bank whose shares have plummeted

Axios

Banks submit First Republic bids to FDIC

The government hopes to resolve the fate of bank by Monday's open on Wall Street.

Axios

JPM eyes First Republic as FDIC prepares takeover

The regional bank has lost 97% of its value since March.

ABC News

Spectre of first global credit crunch since global financial crisis emerges as another US bank faces collapse

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

Barchart

Strong Earnings Results Boost Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Friday closed up +0.83%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.80%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.65%. Stock indexes Friday posted moderate gains, with the S&P...

Fortune

SVB Securities to be rescued from limbo by end of May auction

According to SVB’s most recent bankruptcy filings, the company’s investment banking arm will be put on the block in May.

Axios

Federal Reserve will consider tougher rules for banks after Silicon Valley Bank failure

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.

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