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The Latest Breaking News from SVB

Credit Suisse Meets to Weigh Options, under Pressure to Merge with UBS

Credit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank as regulators urged it to pursue a deal with Swiss rival UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess…

Asharq Al-Awsat

Regional banks safe from US contagion

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

Bangkok Post

As in 2008, JPMorgan chief plays key role in bank rescue

NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

Bangkok Post

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JPMorgan's Jamie Dimon plays key role in bank rescue, in echo of 2008

New York (AFP) - Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

AFP

Who will bid for SVB?

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

Fortune

Kevin O'Leary Has a Warning for Depositors, Investors

Kevin O'Leary is swearing off bank stocks.

The Street

SVB Collapse: Why Customers Are Keeping Money At Bank

Some customers are keeping their deposits at Silicon Valley Bank since the FDIC took control of the failed California bank.

The Street

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The collapse of major US banks leads to bills calling for more regulation

When Silicon Valley and Signature banks failed in early March 2023, government regulators rushed in to guarantee deposits and protect bank customers. Under current banking regulations, though, there was no obligation for the government to step in.

The Conversation

What Canada can learn from the collapse of Silicon Valley Bank

The sudden collapse of Silicon Valley Bank left its investors reeling, shocked and unsure of what had happened to their funds. SVB was one of the top 20 banks in the United States, and many had trusted their money with the bank, unaware of the crisis that was brewing.

The Conversation

Wall Street giants move to rescue First Republic Bank

New York (AFP) - America's largest banks moved Thursday to shore up First Republic, easing fears that the regional lender could be the next domino to fall after collapses including Silicon Valley Bank.

AFP

Bank fears return to haunt stock markets

London (AFP) - Stocks markets tumbled again on Friday as fears of a banking crisis resurfaced despite massive financial lifelines thrown at embattled lenders to prevent contagion across the sector.

AFP

'You can lose everything': How founders’ mental health also collapsed with SVB's downfall

This week, over 30 venture capital firms signed a pledge to address founders' mental health following SVB’s collapse.

Fortune

Interest rate risk: SVB's nemesis a well-known foe in banking

New York (AFP) - Among the mysteries surrounding the collapse of Silicon Valley Bank, finance experts have fixated on the California lender's failure to practice basic risk management.

AFP

Yellen says US banking system sound despite turmoil

Washington (AFP) - The US banking system remains sound despite market anxiety over the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, Treasury Secretary Janet Yellen told members of Congress on Thursday.

AFP

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Tribune News Service

Biden seeks FDIC authority to claw back bankers’ compensation

WASHINGTON — President Joe Biden on Friday urged Congress to pass legislation that would give the Federal Deposit Insurance Corporation authority to “claw back” executive pay at failed banks and to bar the executives from jobs in the banking industry.

Salon

SVB collapse reveals regulatory failure

It's a familiar cycle: Boom, bust, then bailout. Now everyone is wondering where the financial regulators were

Fortune

Bank run mints viral star

Vanessa Pham, cofounder of Asian home cooking startup Omsom, shared screenshots and text messages as she tried to save her startup when SVB crashed.

Al Jazeera

Biden urges ‘accountability’ for executives of failed banks

US president calls on Congress to impose tougher penalties on senior officials of banks that fail due to mismanagement.

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Kiplinger

Germany's Weed Legalization Efforts Progress: This Week in Cannabis Investing

Weed legalization efforts in Europe's second most-populous country received "very good feedback" from the EU.

The Street

Suze Orman Reacts to Ron DeSantis's Claims Diversity Caused SVB Failure

The financial expert calls the claims 'ridiculous.'

AFP

Social media frenzy fuels bank busting panic

New York (AFP) - Fearful Twitter posts and anxious WhatsApp exchanges coupled with online banking ease are seen as helping power an internet-age run on a pair of now-collapsed American lending institutions.

The Conversation

The European Central Bank seems to have got away with raising interest rates in the middle of a banking crisis – here's why

In the middle of a market panic that has felled two US banks and pushed several others to the brink, the European Central Bank (ECB) has raised interest rates by another 0.5 percentage points. The ECB’s president, Christine Lagarde, had been warning this was necessary to bring eurozone inflation back…

The Street

SVB Collapse: Billionaire Peter Thiel Had Millions Blocked in Failed Bank

Founders Fund, founded by the investor Peter Thiel, is accused of having accelerated the depositor run that brought down Silicon Valley Bank.

The Street

After SVB Collapse, Depositors Weigh Banks Versus Credit Unions

Do credit unions offer more protection than banks?

The Guardian - US

Why did the $212bn tech-lender Silicon Valley bank abruptly collapse?

Was it the result of Trump-era regulation rollbacks, risk mismanagement at the bank, sharp interest rate rises – or a combination of all three?

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