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 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...
by Ken Chase | Feb 21, 2023 | Banks, News
Major banks have recently weighed in with their expectations for additional Federal Reserve interest rate hikes, forecasting that the central bank will raise those rates three more times before the end of 2023. That’s according to Reuters, which cited predictions from...
by Ken Chase | Feb 6, 2023 | News
The Federal Reserve announced yet another interest rate hike this week, as it continues its efforts to rein in stubbornly high inflation. Unlike its most recent rate hikes, however, this increase was a more modest boost of a quarter of a percentage point. The central...
