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The Latest Breaking News from SVB

While the recent banking debacle in the US and Europe sparked fears about a contagion spreading worldwide, the head of Thailand's Deposit Protection Agency (DPA) said since the agency's establishment in 2008, Thailand has never been close to requiring action to protect deposits.

Bangkok Post

Michael Hiltzik: Love it or hate it, the Silicon Valley Bank bailout won't cost taxpayers a cent

What's the dirtiest word in financial policy?

Los Angeles Times

The global economy's slow-motion reset

We are now in the early stages of a slow-moving process of markets, companies and governments adapting and readjusting to that reality.

Axios

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Billionaire investor Howard Marks outlines 4 key differences between the 2023 banking crisis and 2008

Oaktree Capital Management’s Howard Marks says “the similarities between 2008 and 2023 are limited” and he isn’t worried about systemic risk.

Fortune

5 policies that could make future bank failures less likely or severe

The abrupt failures of Silicon Valley Bank and Signature Bank and subsequent concerns about the stability of other banks have reignited a fierce debate among lawmakers, the financial industry, the Biden administration and former government officials about an array of banking reforms and regulatory changes.

The Conversation

How a pod of SVB bankers are starting over at a new firm after their world fell apart

Former SVB bankers Jake Moseley and Matt Trotter talk about their decision to join Stifel and the gaping hole left by SVB in venture lending.

Fortune

Citigroup CFO Mark Mason on how ‘careers are defined in times of crisis’

Mason discusses the regional bank turmoil but also shares how an earlier crisis shaped his career.

Fortune

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With the collapse of SVB, venture debt is drying up

An important source of funding for startups is harder to come by, and while private loans are an alternative they’re much more expensive.

Fortune

JPMorgan’s newest board member is thinking about risk

Alicia Boler Davis, who has held senior leadership roles at Amazon and GM, explains why she was drawn to the banking giant and what’s on her mind as she takes up the new role.

Fortune

JPMorgan Stock Leaps After Blasting Q1 Earnings Forecast As Higher Rates Lift Bottom Line

"The storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks," said JPMorgan CEO Jamie Dimon.

The Street

Bank bosses are hiding $600 billion in unrealized losses to keep their mega bonuses. Here’s why portfolio securities should be marked to market

It's time for regulators to require that all securities be marked to market and reflected in banks' income, without resorting to clumsy exceptions.

Fortune

US banks face increased scrutiny of Q1 results after SVB collapse

New York (AFP) - Roughly a month after Silicon Valley Bank's collapse sparked fears of contagion, quarterly earnings reported this week are expected to focus on bank liquidity and the industry's preparation in case of recession.

AFP

Warren Buffett Sends a Warning About the Banks

In his first interview since the banking crisis began, the legendary investor is not very reassuring about the health of banks.

The Street

Warren Buffett slams failed banks for doing ‘dumb things’ but says ‘depositors will be safe no matter what’

Buffett blamed failed-bank executives for causing instability in the financial sector Wednesday, but said with regulators’ backing, “banks can go bust” and “depositors aren’t going to be hurt.”

Fortune

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Fortune

Weeks after his ‘big failure’ losing almost $2 billion on SVB, Sweden’s top pension fund chief sacked ‘with immediate effect’

Magnus Billing urged Alecta to “take actions based upon the lessons learned.” The action was his dismissal.

The Street

Elon Musk Says Warren Buffett Would Be Great for This Job

The CEO of Tesla says legendary investor would be his choice for the U.S. Secretary of the Treasury.

The Street

Elon Musk Picks Warren Buffett for This Government Job

The CEO of Tesla says legendary investor would be his choice for the U.S. Secretary of the Treasury.

The Street

Elon Musk Proposes a Surprise Job for Warren Buffett

The CEO of Tesla says legendary investor would be his choice for the U.S. Secretary of the Treasury.

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Fortune

The strange case of SVB Capital

Hundreds of pages of bankruptcy filings reviewed by Term Sheet outline the bizarre limbo the VC unit finds itself in.

Fortune

Leaders lost their discipline. Now employees are paying the price.

Business leaders are changing tactics as the consequences of our abnormal pandemic behavior finally hit home.

AFP

Small US banks use enlarged deposit guarantee to compete with giants

New York (AFP) - In the wake of the latest US banking meltdown, small lenders might appear vulnerable to an exodus of depositors fleeing for larger banks.

The Street

Elon Musk Warns U.S. Banks Face a Big Problem

The sudden collapse of Silicon Valley Bank on March 10 caused panic among depositors at many banks, large and small.

Fortune

JPMorgan Chase CEO Jamie Dimon says we are ‘near the end’ of the banking crisis

“I think we’re getting near the end of this particular crisis,” Dimon told CNN Thursday—but he still worries about the potential for a U.S. recession.

Miami Herald

The Week Ahead: Watching for the balancing act by big banks

There are banks and then there are systemically important banks. These banks are too-big-to fail. They are required to maintain certain financial buffers to protect depositors from fast moving markets, concentrated bank investments and guard against putting the broader financial system at risk.

The Street

What Is the Dodd-Frank Act? Why Is It Important?

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on July 21, 2010. Introduced by Senator Christopher Dodd of Connecticut and Representative Barney Frank of Massachusetts, it sought to reform the financial industry after the Financial Crisis of 2007–2008 and the ...

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People

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