The Latest Breaking News from Silicon Valley Bank

Washington (AFP) - The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector. 

The ASX finishes lower at market close, off the back of the US Federal Reserve lifting interest rates for the ninth consecutive time. Look back at the day's events and insights as they happened with our business reporters on the ABC News markets blog.

The regional bank says it's adding new accounts and customers as investors fear risk of contagion after Silicon Valley Bank collapse.

Banking is the confidence trick at the heart of capitalism, but preserving the trick has meant that banks have become arms of the state.

The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.

Only 10% of U.S. adults say they have significant confidence in the nation’s banks and financial institutions, a new poll finds

Banks are in the news again. Two bank failures in the US, and the forced takeover of Credit Suisse by UBS in Switzerland, have triggered the worst turmoil in the banking sector since the 2008 financial crisis. There’s talk of a lack of trust, of a collapse in confidence, of…

The legendary investor published a chart which quantifies the uninsured clients and unrealized capital losses for major regional banks.

Bank stocks were mixed early Wednesday ahead of the Fed rate hike decision. Regional banks falter on First Republic, PacWest updates.