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The Latest Breaking News from Silicon Valley Bank

Recent banking crises are rooted in a system that rewards excessive risk-taking -- as First Republic's failure shows

First Republic Bank became the second-biggest bank failure in U.S. history after the lender was seized by the Federal Deposit Insurance Corp. and sold to JPMorgan Chase on May 1, 2023. First Republic is the latest victim of the panic that has roiled small and midsize banks since the failure…

The Conversation

Fed blames itself for Silicon Valley Bank collapse

Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday

The Independent UK

Federal Reserve will consider tougher rules for banks after Silicon Valley Bank failure

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.

Axios

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Is my money safe? What you need to know about bank failures

Recent bank failures may have you worried about your money

The Independent UK

The Fed admits some of the blame for Silicon Valley Bank's failure in scathing report

The Federal Reserve says its own light-touch approach to bank regulation is partly to blame for the collapse of Silicon Valley Bank last month, and it promised more vigorous oversight in the future.

WEKU

NatWest first-quarter profits jump by 50% after interest rate rises

Banking group says some customers have had to dip into savings because of rising prices

The Guardian - UK

Fed's review of role in Silicon Valley Bank collapse due out

The Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry

The Independent UK

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What went wrong at Silicon Valley Bank? The Fed is set to release a postmortem report

The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession.

WEKU

First Republic Bank stock plunges nearly 60% in a week

First Republic Bank's stock continued to sink Wednesday, an ongoing rout that has erased 60% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses.

France 24

Did Tweets Help Crash Silicon Valley Bank? Paper Shows New Social Media Risks

A new study on Silicon Valley Bank's demise links depositor flight and stock crash with Twitter mentions.

Kiplinger

First Republic Bank shares plummet, reigniting fears about U.S. banking sector

Trading of First Republic Bank shares were halted multiple times today, as investors sold off shares, alarmed by financial disclosures from the bank.

WEKU

Shares of First Republic Bank continue to slide

Shares of First Republic Bank are continuing on their downturn before the market open Wednesday as investors remain jittery about the bank’s financial health

The Independent UK

11 Bank Stocks Tank Again — Fueling Financial Crisis Dumpster Fire

Just when you thought the S&P 500 banking crisis was over, tanking financial stocks remind investors the crisis still rages.

Investors Business Daily

Could Tech Industry Be Facing Headwinds as 3 Major Players Struggle With Uncertain Future

The tech industry has been facing headwinds with year-long interest rate hikes, waves of job cuts, and trouble in the banking sector. Given the economic uncertainties ahead, I think fundamentally weak tech stocks Ouster (OUST), Alpine 4 (ALPP), and Integrated Media (IMTE) might be best avoided. Keep reading.

StockNews.com

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Al Jazeera

First Republic shares hit record low after depositors pull $100bn

First Republic’s stock closes down nearly 50 percent amid questions about San Francisco lender’s future.

The Guardian - US

First Republic Bank shares fall 50% after reporting dramatic slump in deposits

Bank now faces tough options to turn around its business with the creation of a ‘bad bank’ or asset sales possibilities

The Independent UK

Central banks end crisis offer as bank system fears ease

Major central banks are standing down from their offer of daily emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about the stability of the global financial system

The Independent UK

First Republic clients pulled $100B in deposits during panic

Depositors at First Republic Bank pulled more than $100 billion in deposits out of the bank during last month’s crisis

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Fortune

Twitter poses a risk to the financial system and helped fuel the SVB run, says first major study to investigate the topic

Academics warn that social media is a new “catalyst” for bank runs and argue that venture capitalists bear some of the blame for Silicon Valley Bank’s downfall.

The Independent UK

Banks are paying savers again after many years of low rates

Banks are paying up for savers’ deposits in a much bigger way than they have in a long time

Axios

Twitter fueled run on Silicon Valley Bank, new paper finds

Social media-fueled bank runs are a new risk to the financial system, and regulators don't know yet how to manage them.

The Guardian - US

‘Market rules should benefit the majority of the citizenry’: historians Naomi Oreskes and Erik M Conway

In their new book, The Big Myth, the authors document the rise of ‘market fundamentalism’ and Americans’ relationship with government regulations

Financial Times

Silicon Valley Bank: the multiple warnings that were missed

Ahead of the first official postmortem on its collapse, bankers, regulators and executives admit that it was a crisis hiding in plain sight

Kiplinger

Why Investors Should Avoid Buying the Banking Sector Dip

Even though things appear to have settled after SVB's collapse, that doesn’t mean all is clear. Consider options like healthcare and consumer staples instead.

The Guardian - UK

Banks line up to reassure investors as season of turbulence subsides

First-quarter results for the UK’s big four will vary by exposure to volatile markets, but the boost from high interest rates won’t last

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