The Latest Breaking News from SVB

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The San Francisco, Calif.-based bank was shut down on May 1, becoming the third major U.S. bank to fail since March 10.

The regional bank has lost 97% of its value since March.

First Republic Bank is rocked by a crisis of confidence that threatens its survival, unless there is a last-minute bailout.

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

According to SVB’s most recent bankruptcy filings, the company’s investment banking arm will be put on the block in May.

The Federal Reserve admitted it should have taken more action before Silicon Valley Bank collapsed on March 10.

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…

Washington (AFP) - The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank (SVB) last month.