The Latest Breaking News from The Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation accidentally revealed unintended details about the Silicon Valley Bank rescue.

What Is Deposit Insurance?Amidst a wave of bank failures in 2023, Americans should take comfort in the fact that there’s an entire government agency whose mission is to keep their deposits safe. The Federal Deposit Insurance Corporation (FDIC) was formed during the Great Depression. After the stock ...

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.

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

Cuban suggested a measure that needs to be taken regarding insured accounts at banks is necessary.

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

The failure of one of the largest commercial banks in the U.S. left people frantically figuring out next steps Friday morning.