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The Latest Breaking News from Signature Bank

Biden wants Congress to boost penalties for executives when mid-sized banks fail

President Biden said the current law limits his administration's power to hold executives responsible when mid-sized banks fail due to mismanagement.

WEKU

Biden to Congress: Ban execs of failed banks from the industry

Silicon Valley Bank and Signature Bank were both taken over by the FDIC in the last week.

Axios

Biden seeks FDIC authority to claw back bankers' compensation - Roll Call

President Biden asked Congress for FDIC authority to claw back compensation from executives at failed banks, and bar them from the industry.

Roll Call

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Big banks came to First Republic's rescue, but changing the 'psychology of depositors' may not be easy

“Founders are pretty confused at [the] moment” one venture investor said.

Fortune

Martin Schram: Biden is having too many Casey Stengel days

You are sitting at your desk in the world’s most famous workplace. Day after day, you are feeling like your supremely skilled experts somehow just managed to paint you into yet another corner in your unique Oval Office.

Tribune News Service

Editorial: The ghosts of 2007. Why learn from history when repeating it is so much fun?

Back in 2017, when Congress and the Trump administration were pushing a bill to weaken hard-fought banking regulations, we warned that they were playing with fire. Barely a decade had passed since the 2007-2008 economic meltdown. Blatant abuses in the financial industry had more than merited the tough banking regulations…

St. Louis Post-Dispatch

Fed's emergency bank lending soars to new record

The report sheds light on banks' demand for short-term cash in the early days of the fallout from the Silicon Valley Bank crisis.

Axios

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Big US banks benefit from surge in deposits after SVB and Signature Bank collapses

Though some consumers have pulled their money out of smaller banks, a Treasury official said those withdrawls have slowed

The Independent UK

Experts, banks look for ideas to stop next bank failure

The warning signs were all there

The Independent UK

What happened with Credit Suisse, is it connected to Silicon Valley Bank, and what does it mean for Australia?

Global financial markets are on edge after Credit Suisse shed nearly a quarter of its value on the stock market. How did it happen, is it related to Silicon Valley Bank's collapse, and could Australian banks be impacted?

ABC News

Federal Reserve Rate-Hike Odds Dive As Latest Bank Fix Has Holes; S&P 500 Falls

A Federal Reserve rate hike next week looks less likely as bank stocks and the broader S&P 500 resumed their fall on Friday.

Investors Business Daily

Elizabeth Warren slams Powell for weak regulation, oversight of SVB

Senator Elizabeth Warren blasted Federal Reserve Chair Jerome Powell for “an astonishing list of failures” that contributed to the collapse of Silicon Valley Bank and Signature Bank in a letter to the Fed chief Wednesday.

Tribune News Service

The DOJ And The SEC Probing The Investigations Of The Collapse Of Silicon Valley Bank

The investigation of the failure of Silicon Valley Bank involve shares that sold and bonds that were bought by the bank

Zenger

Top GOPer: No need for tougher bank rule

Critics say Mike Crapo's law exempting SVB and others from stricter requirements led to collapse

Salon

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Fortune

FDIC wants buyer of Signature Bank to give up crypto business, report says

The failed New York-based bank was a popular option among crypto firms.

The Independent UK

Janet Yellen says US banking system ‘remains sound’ and Americans should be ‘confident’

Treasury Secretary appears before the Senate Finance Committee a week after the second-largest bank collapse in the nation’s history

WEKU

Credit Suisse shares soar after the bank secures a $54 billion lifeline

Shares of the Swiss banking giant rallied significantly Thursday after Switzerland's central bank agreed to lend it $54 billion.

The Independent UK

NY bank's demise: Contagion or a problem with the business?

A New York-based bank's demise was stunningly fast

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Salon

SVB-backed GOPers "want to go further"

"They don't want any kind of oversight whatsoever," watchdog group warns

StockNews.com

2 Big Problems the Feds Have to Overcome…

Lots has happened in the past two weeks and it has certainly been a bumpy ride for the S&P 500 (SPY). Just when it looked like hotter-than-expected data points were pushing us toward a 50-bps rate hike, we saw two banks collapse seemingly out of the blue in a single…

Chicago Sun-Times

Is my money safe in the wake of two big bank failures? A consumer guide to what you need to know.

Is there any reason to be worried about bank failures after the government-ordered closings of Silicon Valley Bank and Signature Bank? And what can you do to protect yourself?

Newsroom.co.nz

Fisher Funds loses $80m in bank collapse – just the start of the hit to KiwiSavers

A Newsroom investigation shows the big funds manager had gone big on Signature Bank – money it will never see again. But it says other funds are down as well. Jonathan Milne reports.

Roll Call

Lawmakers from both parties skeptical of legislation over SVB - Roll Call

President Biden's call for a legislative response to the SVB collapse is meeting skepticism from members of both parties on Capitol Hill.

Tribune News Service

Shuli Ren: The Fed’s easy fix to avert another bank crisis

The Federal Reserve's plan to expand oversight of lenders after the collapse of SVB Financial Group and Signature Bank is a move in the right direction. While it will likely be a laborious process, there is also an easy fix.

Investors Business Daily

Report: 10 Banks Are Most Exposed To Uninsured Deposits

High levels of uninsured deposits helped do in Silicon Valley Bank and Signature Bank. But it turns out they're not alone.

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