by Ken Chase | Apr 3, 2023 | Banks, News
President Joe Biden is now urging federal banking regulators to impose tougher regulatory requirements for the nation’s banks, suggesting that increased oversight is necessary to prevent banks like Silicon Valley Bank from collapsing in the future. The President’s...
by Ken Chase | Mar 28, 2023 | Banks, News
North Carolina-based regional bank First Citizens has agreed to purchase Silicon Valley Bank, according to a March 26 statement from the Federal Deposit Insurance Corporation (FDIC). The FDCI confirmed that it had agreed to the deal, which will see the regulatory...
by Ken Chase | Mar 24, 2023 | Banks, News
Regional bank Pac West Bancorp has secured a $1.4 billion line of credit from an Atlas SP Partners finance facility as part of its effort to boost liquidity, after customers withdrew roughly 20% of their deposits in the first few months of 2023. According to a...
by Ken Chase | Mar 20, 2023 | Banks, News
UBS reached an agreement to purchase embattled Credit Suisse on Sunday for a reported $3.2 billion. The agreement came after weekend negotiations orchestrated by the Swiss National Bank and Swiss regulators, which pushed for the emergency rescue as a way to shore up...
by Ken Chase | Mar 18, 2023 | Banks, News
The Financial Times has reported that UBS is currently involved in talks to acquire part or all of embattled Credit Suisse. The Times’ sources reportedly include “multiple people briefed on the talks” who claimed that Switzerland’s central bank and financial...
by Ken Chase | Mar 13, 2023 | Banks, News
The Treasury Department, Federal Reserve Board, and Federal Deposit Insurance Corporation issued a joint statement on Sunday confirming that all Silicon Valley Bank uninsured deposits will be fully covered. The same announcement confirmed similar protections for...
