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The Latest Breaking News from Silicon Valley Bank

Banking system is 'safe', Biden assures Americans after SVB collapse

US President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse of Silicon Valley Bank (SVB) and the federal takeover of a second bank.

France 24

US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

Tribune News Service

Signature Bank closed by New York regulators in SVB’s wake

Signature Bank was closed by New York state financial regulators on Sunday as the fallout from last week’s implosion of SVB Financial Group’s Silicon Valley Bank spreads to other lenders.

Tribune News Service

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Biden says those behind SVB bank ‘mess’ will be held accountable

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

Tribune News Service

US, UK try to stem fallout from Silicon Valley Bank collapse

US President Joe Biden says banking regulations must be bolstered amid fallout that has rocked global financial markets.

Al Jazeera

SVB Collapse: Here Is the Fed's Announcement to Help Banks

The Federal Reserve (Fed) announced a bank backstop on Sunday to avoid contagion from the collapse of Silicon Valley Bank.

The Street

SVB: Here Is the Joint Statement Of the Regulators to Reassure Everyone

The Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) unveiled an emergency plan on Sunday to avoid contagion from the collapse of Silicon Valley Bank.

The Street

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Asian shares mostly sink on jitters after US bank failure

Asian shares have mostly fallen, shaken by a Wall Street tumble that set off worries the biggest U.S. bank failure in nearly 15 years might have ripple effects around the world

The Independent UK

SVB Collapse: 'Big Short' Burry Accuses Regulators of Rewarding 'Greed'

U.S. regulators unveiled an emergency plan on Sunday, to avoid contagion from the collapse of Silicon Valley Bank.

The Street

Fed Steps-In With Massive Bank Lending Plan To Stem Contagion From SVB Collapse

The Fed launched a new lending program late Sunday that it hopes will prevent the spread of contagion from the Silicon Valley Bank Collapse.

The Street

Federal Regulators Launch $25 Billion Program to Protect Deposits

Federal regulators will protect deposits at banks through a new program and said all depositors at Silicon Valley Bank would receive their money.

The Street

Feds say Silicon Valley Bank clients will get funds as another troubled bank is shuttered

The Treasury, FDIC and Federal Reserve said clients of Silicon Valley Bank would be protected as the agencies sought to find a buyer and stop further bank runs.

Chicago Sun-Times

Signature Bank takeover could leave crypto firms scrambling

The Treasury, Federal Reserve, and FDIC jointly announced that depositors would be made whole.

Fortune

Signature Bank shut by regulators, noting systemic risk

Like Silicon Valley Bank, the firm's depositors will be made whole, officials say.

Axios

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The Independent UK

Second bank closed as regulators say they will protect Silicon Valley Bank deposits at no cost to taxpayer

Signature Bank of New York shuttered as federal government moves to protect depositors

WEKU

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank

Federal officials made the emergency announcement Sunday amid panic from depositors over the state of uninsured deposits.

The Street

SVB Collapse: U.S. Regulators Pull Out a Bazooka to Avert Disaster

U.S. regulators say that all Silicon Valley bank depositors will get their money back and announced the shutdown of another bank in 48 hours.

ABC News

ASX 200 falls, US regulators to protect all Silicon Valley Bank depositors — as it happened

The Australian share market closed lower on Monday, as the fallout from the collapse of startup-focused lender Silicon Valley Bank (SVB) spooked investors. Catch up on the day's market news.

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Axios

U.S. regulators will protect all Silicon Valley Bank depositors to stem fallout

Federal banking regulators took aggressive new actions aimed at preventing depositors' funds in failed Silicon Valley Bank from losing money.

The Street

'Our Capital Remains Strong': First Republic Bank Tries to Reassure After SVB Collapse

The regional bank was keen to send a reassuring message to investors and clients, as speculation about contagion from the collapse of Silicon Valley Bank is rife.

Fortune

More than 1,000 VC, PE, and investment firms held capital at SVB in 2022

General Catalyst, Two Sigma, and Andreessen Horowitz all kept some portion of their billions in fund assets at the bank.

The Independent UK

Biden unlikely to bail out Silicon Valley Bank, as right claims it failed because it was ‘woke’

Second-largest bank collapse in US history met with eyerolls in Washington

Evening Standard

Bank of London confirms bid to rescue Silicon Valley Bank UK

The clearing bank is the first confirmed bidder for the UK arm of the collapsed Silicon Valley Bank

The Street

SVB Collapse: Race Against Time to Avert Disaster

U.S. regulators are scrambling behind the scenes on Sunday to find cash for strapped depositors of failed Silicon Valley Bank.

Fortune

After Silicon Valley Bank failure ‘there’s going to be more,’ warns former FDIC Chair William Isaac

“There’s no doubt in my mind," said Isaac. "Seems to me to be a lot like the 1980s.”

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