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The Latest Breaking News from Silicon Valley Bank

Will US consumers have to bail out struggling banks?

WASHINGTON — Could taxpayers wind up bailing out wealthy customers at banks such as Silicon Valley Bank, Signature Bank and others that are struggling?

McClatchy Washington Bureau

Bank Stocks Rally: First Citizens Buys Silicon Valley Bank; Officials Weigh More Support

Bank stocks rallied as First Citizens agreed to buy Silicon Valley Bank while officials mull more First Republic support. KeyCorp got an upgrade.

Investors Business Daily

First Citizens Bank will buy Silicon Valley Bank

RALEIGH, N.C. — Raleigh’s First Citizens Bank is buying most of Silicon Valley Bank, the tech-focused financial institution which collapsed earlier this month.

Tribune News Service

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Markets Today: Stock Indexes Climb as Banking Concerns Ease

Morning Markets March S&P 500 futures (ESM2 3) this morning are up +0.62%, and March Nasdaq 100 E-Mini futures (NQM2 3) are up +0.25%. U.S. stock index futures this morning are moderately higher as the prospect of additional support from U.S. authorities eased some concerns about liquidity at regional banks...

Barchart

Dow Jones Rallies 300 Points On Silicon Valley Bank Purchase; First Republic Soars 31%

The Dow Jones rose 250 points Monday, as First Citizens bought FDIC-controlled Silicon Valley Bank. First Republic Bank soared 30%

Investors Business Daily

Saudi National Bank chair resigns after Credit Suisse comments

Ammar Al Khudairy’s remarks about Swiss lender spurred investor panic that led to emergency takeover

The Guardian - UK

Money's moving out of the banking system

Where is it landing?

Axios

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First Citizens Buy of SVB Could Boost Confidence in Banking System

Regional bank stocks are moving higher Monday following a late-night agreement by First Citizens to buy the assets of failed lender Silicon Valley Bank.

The Street

Stocks Higher, First Citizens Purchase, Inflation Data Focus, Bank Deposits Flee, Israel Protests - Five Things To Know

Stock futures higher as bank stocks rebound; Week Ahead: inflation data in focus as Fed rate bets fade; First Citizens agrees to buy Silicon Valley bank loans, deposits; U.S. bank stocks higher, but deposit outflows quicken and Israel protests deepen pressure on Prime Minister Netanyahu.

The Street

Stocks Set to Open Higher as SVB Deal Calms Banking Sector Fears

June S&P 500 futures (ESM23) are up +0.34%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning as market participants welcomed the news that First Citizens BancShares had agreed to acquire Silicon Valley Bank’s deposits and loans.

Barchart

Family run US bank rescues tech lender Silicon Valley Bank

FAILED tech lender Silicon Valley Bank was taken over today by First Citizens in a deal that will cost about $20 billion but offered hope that the crisis of confidence in the global banking system could be easing.

Evening Standard

The FDIC says First Citizens Bank will acquire Silicon Valley Bank

First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.

WEKU

Silicon Valley Bank: most of failed lender bought by First Citizens

Collapse of tech sector lender will cost about $20bn in deposit insurance payouts, say US regulators

The Guardian - UK

Markets rally despite banking fears; UK retailers turn optimistic after bleak winter – as it happened

Shares in First Citizens Bank surge 45% as it agrees to buy much of Silicon Valley Bank, while Saudi National Bank’s Ammar Alkhudairy resigns

The Guardian - UK

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Al Jazeera

Banking sector sees boost as First Citizens acquires failed SVB

SVB’s purchase gives markets some respite amid growing concerns over financial health of global banking system.

The Independent UK

AP News Digest 3 a.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

Evening Standard

FTSE 100 Live: FTSE closes up 0.9%, SVB deal allays banking fears, Binance CEO sued by US watchdog

Pressure on banking shares eased yesterday, after First Citizens’ deal to rescue Silicon Valley Bank. Shares in top lenders across the globe rose, with the FTSE up 0.9%.

The Independent UK

FDIC: First Citizens Bank to acquire Silicon Valley Bank

The Federal Deposit Insurance Corp. says it has agreed on the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. The sale involves the sale of all deposits and loans of SVB to First-Citizens

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Axios

First Citizens agrees to buy Silicon Valley Bank

This is a step toward stabilizing America's regional banking sector, after a month of tumult.

Bangkok Post

Thailand unscathed by Western banking turmoil

Most economists from the public and private sectors expect the ongoing US and European banking crisis to have a limited effect on the Thai banking sector thanks to the solid fundamentals of local banks and the strong supervision of the Bank of Thailand.

The Conversation

How can we maximize woke's potential while minimizing the culture war's divisiveness?

The recent collapse of Silicon Valley Bank (SVB) and other major banks has raised fears about a potential 2008-style banking crisis. While this seems unlikely, like so many events these days, SVB’s failure has also been caught in the sticky rhetorical web of the culture war.

The Guardian - US

Consider yourself lucky if your small business worked with Silicon Valley Bank

Yes, there were some scary moments, it was poorly regulated and your bank failed to protect your money – but you got it back

Zenger

Janet Yellen’s Comments Fail To Calm Investors As First Republic Stock Remains Volatile

Growing concerns about the safety of bank deposits have prompted investors to approach community and regional banks with caution

The Street

Banking Crisis: Small Banks Hit by Massive Cash Withdrawals

Americans have withdrawn nearly $120 billion in deposits from U.S. small banks in the week marked by the collapse of Silicon Valley Bank.

The Independent UK

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

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