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The Latest Breaking News from Silicon Valley Bank

Karl W. Smith: Insurance for all bank deposits is a manageable cost

A group of conservative Republicans representatives known as the House Freedom Caucus came out last week against any proposal that would lift the cap on deposit insurance, currently set at $250,000. Members of U.S. Congress on both sides of the aisle are understandably cautious about taking such a dramatic step…

Tribune News Service

Bank Crisis Credit Crunch Will Clip Earnings and Slam Stocks

The banking crisis might be neutralized, but its impact will hit earnings growth and U.S. stock performance over the coming months.

The Street

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

The Conversation

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Key takeaways from the Senate’s bank failure hearing

Amid all the finger-pointing, Senators and speakers said more monitoring was needed in the banking sector.

Fortune

How to Protect Your Cash and Investments in a Banking Crisis

A focus on FDIC insurance and Treasury-only money market or bond fund options can help safeguard investments when a banking crisis threatens.

Kiplinger

WeWork mugs for $500: 10 of the strangest merch items from companies that crashed

FTX fortune cookies and Theranos gift cards offer souvenirs from recent business disasters

The Guardian - US

Fed official says banking rules are under review in the wake of SVB failure

Michael Barr, the nation’s top banking regulator, said Silicon Valley Bank was warned in the fall of 2021 that its interest rate model was not ‘aligned with reality.’

Chicago Sun-Times

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Senate committee questions federal regulators over US bank crisis

Tuesday marked the US Senate’s first public hearing into the collapse of Silicon Valley Bank in early March.

Al Jazeera

ASX closes higher as inflation falls for second month, US regulator slams Silicon Valley Bank for 'terrible' risk management

The Australian share market has closed higher for its third day in a row, while the ABS's latest inflation data shows cost-of-living pressure are easing, which may strengthen the case for the Reserve Bank to keep interest rates on hold next week.

ABC News

5 things we learned from the Senate hearing on the Silicon Valley Bank collapse

A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse

WEKU

One Of The Best Traders In Congress Sells Shares Of Distressed Regional Bank On Day Of Stock Crash

Several banks have collapsed in 2023, including Silvergate Capital, Signature Bank and Silicon Valley Bank, unit of SVB Financial

Zenger

US officials signal new rules for banks after SVB, Signature failures

Top U.S. financial officials on Tuesday outlined what’s likely to be the biggest regulatory overhaul of the banking sector in years, in an initiative aimed at addressing underlying issues that contributed to the collapse of Silicon Valley Bank and other U.S. regional lenders.

Tribune News Service

How A $700M Tech VC Firm Was Saved From SVB Collapse, And Why Its CEO Still Banks There

The collapse of Silicon Valley Bank has sounded an alarm for the entire banking sector as a VC Tech still banks there

Zenger

Fox allies pan Trump's "worst interview"

"I think that was the worst interview I've seen the president do," said Fox pundit Jason Chaffetz

Salon

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Investors Business Daily

SVB Failure Due To Mismanagement, Regulators Say; First Republic No Longer For Sale

Lawmakers grilled U.S. financial regulators Tuesday on the Silicon Valley Bank and Signature Bank failures during a Senate hearing.

Roll Call

Fed’s Barr: SVB ignored ‘bread and butter’ banking issues - Roll Call

The Fed official in charge of bank supervision said SVB was warned about its risks and that it ignored “bread and butter” banking issues.

The Independent UK

Watch live as Senate committee holds hearing on Silicon Valley Bank collapse

Watch live as a US Senate committee holds a hearing on the collapse of Silicon Valley Bank.

The Guardian - US

US senators grill banking regulators in first Silicon Valley Bank hearing

Lawmakers aim to determine how Silicon Valley Bank and Signature Bank failed, sparking fears of financial crisis

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The Independent UK

Small businesses weigh banking options amid bank turmoil

The recent banking turmoil has been a jolt for small businesses of all stripes, spurring many to scrutinize their banking services and mull whether or not they should make changes

The Independent UK

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

The Guardian - UK

Bank of England ‘vigilant’ in wake of Silicon Valley Bank collapse, says Bailey

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

Barchart

Stock Index Futures Muted as Bond Yields Tick Higher Amid Easing Banking Fears

June S&P 500 futures (ESM23) are down -0.10%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.20% this morning after the Dow and S&P 500 closed in the green on Monday as a buyout deal for the failed Silicon Valley Bank calmed investor concerns about the banking sector, while…

The Street

Stocks Slip, Barr Testimony, Lyft Leaps, Occidental Buffett Boost, Alibaba Plans Split - Five Things To Know

Stock futures slip lower as bank sector worries clip sentiment; Fed supervisor Barr to face Senate lawmakers on SVB collapse; Lyft shares leap as founders step aside for new CEO David Risher; Occidental shares jump as Warren Buffett adds more shares to holding and Alibaba shares spike on plans to…

Barchart

Stock Index Futures Muted as Bond Yields Tick Higher, Bank Stocks Extend Recovery

Evening Standard

Bank of England chief: HSBC was only reasonable bidder for Silicon Valley Bank UK

Other prospective bidders, Andrew Bailey said, either never submitted a firm offer or attached terms the Bank couldn’t agree to

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