The Latest Breaking News from SVB

Washington (AFP) - Recent banking sector turmoil is a reminder that work on reforms remains unfinished, and there is a need to "consider whether deregulation may have gone too far," US Treasury Secretary Janet Yellen said Thursday.

It’s up to bank CEOs to convince clients that their money is safe.

What was the No. 2 Swiss bank was acquired on March 19 for the modest sum of $3.24 billion by its rival and peer UBS.

Four senators from both parties released a draft bill to claw back executive compensation in the five years leading up to a bank failure.

Jason Lee's last startup was DailyPay, which raised over $1 billion, including $175 million in equity capital and the remainder in a revolving credit facility and a term loan. (SVB Capital, the venture capital and credit investment arm of SVB Financial Group, provided a small portion of the DailyPay term…

What was the No. 2 Swiss bank was acquired on March 19 for the modest sum of $3.24 billion by its rival and peer UBS.

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

Amid all the finger-pointing, Senators and speakers said more monitoring was needed in the banking sector.

El-Erian warned “fallout” from recent banking stress is adding to pressure on the economy.