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The Latest Breaking News from Silicon Valley Bank

The Fed raises interest rates again in what could be its final attack on inflation

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

WEKU

Four U.S. Banks Have Collapsed. Which One Is Next?

Four U.S. regional banks failed in March and April. Stocks of smaller banks continue to sell off, a sign that the banking crisis is not over despite regulators' efforts.

The Street

Elizabeth Warren says U.S. taxpayers will have to foot the bill if JPMorgan ‘stumbles’ after First Republic buyout

The Democratic senator raised concerns about the deal reigniting the “too big to fail” problem.

Fortune

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Former CEOs of failed banks to testify before Senate panel

The former top executives of two failed banks will testify before Congress this month

The Independent UK

Is the banking crisis coming to an end? As JP Morgan CEO notes, risks linger

Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed

The Guardian - UK

Charlie Munger Warns That The Fall Of Property Values With Banks Full Of Bad Loans

Berkshire Hathaway distanced itself from Silicon Valley Bank and Signature Bank with history supporting instable banks.

Zenger

What Happened to Silicon Valley Bank? Why Is It in Trouble?

Silicon Valley Bank (SVB) was a regional bank located in the San Francisco Bay area. Founded in 1983, it specialized in granting loans to startup tech firms. According to the company’s website, in 2022, SVB funded nearly half of all venture-backed tech- and healthcare-related IPOs. Some of its ...

The Street

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Twitter played a role in the collapse of Silicon Valley Bank – new research

The Research Brief is a short take about interesting academic work.

The Conversation

VCs aren’t convinced JPMorgan’s acquisition of First Republic stems the crisis

“I think people will remain skittish for quite some time” after the collapse of First Republic, Cake Ventures’s Monique Woodward says.

Fortune

Where’s your money? Your bank should be able to tell you

The recent bank failures may have felt like 2008 deja vu because they similarly expose the weak spots in the system that have not been resolved.

Fortune

HSBC rules out banking crisis as profits triple after Silicon Valley Bank deal

Failure of four banks in six weeks is purely a sign of poor risk management, says chief executive

The Guardian - UK

Asia-Pacific to grow 4.6% in 2023; India, China to contribute half of global growth: IMF

India and China, the two largest emerging market economies of the region, are expected to contribute around half of global growth.

The Hindu

First Republic Bank seized, sold in fire sale to JPMorgan

In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. It’s the third midsize bank to fail in two months.

Chicago Sun-Times

Elon Musk Fires Off A Warning Of A Financial Crisis As First Republic Bank Falls

The Federal Reserve is poised to for another hike in the interest rate as Musk warns of a possible recession in the coming future.

Zenger

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Bangkok Post

SVB's collapse shows Fed failure to supervise banks

The aftershocks of the collapse of Silicon Valley Bank (SVB), while seemingly fading, are still reverberating around the world. Although Federal Reserve officials have taken pains to assure the public that the US banking system is sound, it is unclear why anyone should believe them. After all, Fed Chair Jerome…

Investors Business Daily

First Republic Bank Is The Second-Largest U.S. Bank Failure. What Comes Next?

First Republic Bank marked the 2nd largest bank failure in U.S. history. Are there more to come? What comes next from regulators?

The Independent UK

Why First Republic failed. Are other banks to follow?

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks

The Street

FDIC Has An Idea to Avoid Bank Runs

The FDIC recommends increasing the amount of deposit insurance after failures of several banks due to panicked depositors.

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Salon

First Republic Bank collapses, seized

"Ultimately taxpayers will be on the hook," Sen. Elizabeth Warren warned

Reason

Regulators Seize First Republic Bank and Sell It to JPMorgan Chase

Plus: Twitter complies with a greater portion of government censorship requests, a judge allows an antitrust suit against Google to go forward, and more...

Kiplinger

Five Places to Put Cash Rather Than in the Bank

FDIC sweep programs, money market funds, Treasuries and more could be alternative places to stash cash instead of keeping it in the bank.

Axios

JPMorgan Chase to acquire First Republic Bank

The bank's been on shaky ground since the failure of Silicon Valley Bank.

WEKU

JPMorgan Chase buys troubled First Republic Bank after U.S. government takeover

JPMorgan Chase is taking over First Republic after the troubled bank was placed in the FDIC's receivership in the latest failure in the banking system.

The Independent UK

First Republic in limbo as US regulators juggle bank's fate

Regulators are searching for a solution to First Republic Bank’s woes, hoping to find a way forward before U.S. stock markets open Monday

The Independent UK

Stock market today: Tokyo gains, most Asian markets closed

Shares have advanced in Tokyo and Sydney while most Asian markets were closed for May 1 holidays

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