FDIC won’t have to return $1.71 billion to SVB creditors
A federal judge found SVB Financial's management negligently prioritized yield over safety, allowing the Federal Deposit Insurance Corp. to retain the deposits after the bank's 2023 collapse.
Banking Crisis 2023
FDIC admits oversight shortcomings in First Republic Bank’s collapse
The Federal Deposit Insurance Corp. acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion.
Banks’ CLO holdings stagnate despite their strong returns and rising interest rates
Regional banks may soon favor CLOs again while proposed rules could draw banks to the market long-term.
By
John Hintze
Fed’s Jefferson voices concerns over Basel III capital proposal
Federal Reserve Board Gov. Phillip Jefferson joined three other board members in supporting a notice of proposed rulemaking, but expressed concerns about the economic impact of the changes.
The big names that got backstop for billions in uninsured SVB deposits
Some of the firms include Sequoia Capital, the world's most prominent venture-capital firm, which got covered for the $1 billion it had with the lender. Kanzhun Ltd., a Beijing-based tech company that runs mobile recruiting app Boss Zhipin, received a backstop for more than $900 million.
Powell: Fed watching Treasury issuance, impact on balance sheet
The Federal Reserve chair said that as the Treasury replenishes its general account at the Fed, it will lead to fewer reserves in the banking system.
What’s next for Fed supervision? Basel’s Pillar 2 may hold the key
The global accord's provision on supervision establishes broad authorities over risks not expressly covered in capital rules. The Federal Reserve's top regulator has already hinted that those authorities might be relied on more in the wake of this spring's bank failures.
Senators lambaste former Silicon Valley Bank CEO for ‘really stupid bet’
Democratic and Republican lawmakers alike pilloried former Silicon Valley Bank CEO Greg Becker over his compensation package.
Quarles issues stark warnings to Fed in wake of bank failures
The former vice chair for supervision challenged his successor's report on the failure of Silicon Valley Bank, said changes that move away from transparency and consistency 'won't survive' in court.
Fed’s Bowman: Recent failures don’t justify higher capital requirements
The Federal Reserve Board governor also called for the Fed to commission an independent investigation into the failure of Silicon Valley Bank.
Treasury’s Liang says bank liquidity risk is stable, but nonbank fears mount
Speaking before the International Swaps and Derivatives Association's annual meeting, Treasury Undersecretary for Domestic Finance Nellie Liang said liquidity and interest rate risk in the banking sector is being managed, but said fears of risk mounting in the nonbank sector are a source of concern.
Fed’s Williams says commercial real estate a ‘real issue’ for banks
The president of the Federal Reserve Bank of New York said the performance of office loans is a top supervisory issue, but not an immediate threat to financial stability.
California regulators admit some fault in Silicon Valley Bank failure
The California Department of Financial Protection and Innovation says in a new report that it failed to keep pace with Silicon Valley Bank's rapid growth. But it placed blame on the Federal Reserve, too.
Powell: Fed made ‘mistakes’ in regulation and supervision on his watch
The Federal Reserve chair said he holds himself accountable for ensuring proper regulatory and supervisory changes are enacted in response to recent bank failures.
Bank jitters hit stocks as traders rush into bonds: markets wrap
Treasury two-year yields slumped as much as 21 basis points and approaching the 4% threshold. Bonds also climbed after data showing JOLTS jobs opening figures.
JPMorgan Chase, FDIC put an end to First Republic’s slow bleed
First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.
FDIC largely blames poor management for Signature’s failure
The Federal Deposit Insurance Corp. said in a report released Friday that Signature's rapid, unrestrained growth and inadequate risk management practices outpaced supervisors' ratings and responses, even though the issues were known to the agency.
Banks, experts call for accountability above all else in Fed’s SVB report
On Friday, Federal Reserve Vice Chair for Supervision Michael Barr will share findings from his review of the supervision of Silicon Valley Bank before its failure last month.
PacWest plans to shrink assets, make ‘significant expense reductions’
The California bank, which endured large deposit outflows in March, anticipates selling its $2.7 billion lender finance portfolio in the coming months. It's also looking at cutting facilities, employee headcount and vendor costs.
Fed’s Barr to release Silicon Valley Bank report Friday
Federal Reserve Vice Chair for Supervision Michael Barr had promised to share findings from his review of the Fed's oversight efforts for the failed bank by May 1.
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