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Veteran bank executives are meeting with senior lawmakers and federal officials as the government comes within two weeks of a potential debt default.
Veteran bank executives are meeting with senior lawmakers and federal officials as the government comes within two weeks of a potential debt default.
 
Former executives from Silicon Valley Bank and Signature Bank told members of the Senate on Tuesday that their institutions failed as a result of panic from depositors.
Former executives from Silicon Valley Bank and Signature Bank told members of the Senate on Tuesday that their institutions failed as a result of panic from depositors.
 
Multiple lawmakers sold their shares in First Republic Bank in the weeks before the firm collapsed and was sold to JPMorgan Chase by financial regulators.
Multiple lawmakers sold their shares in First Republic Bank in the weeks before the firm collapsed and was sold to JPMorgan Chase by financial regulators.
 
Officials at the Federal Reserve announced a 0.25% increase in the target federal funds rate on Wednesday, marking a slowdown from previous rate hikes meant to combat inflation, even as the financial sector contends with the collapse of three medium-sized regional banks.
Officials at the Federal Reserve announced a 0.25% increase in the target federal funds rate on Wednesday, marking a slowdown from previous rate hikes meant to combat inflation, even as the financial sector contends with the collapse of three medium-sized regional banks.
 
JPMorgan Chase assumed control of First Republic Bank on Monday after the latter company collapsed due to turmoil in the financial sector.
JPMorgan Chase assumed control of First Republic Bank on Monday after the latter company collapsed due to turmoil in the financial sector.
 
Economists at the Federal Reserve predicted that a mild recession would hit the United States in the second half of 2023.
Economists at the Federal Reserve predicted that a mild recession would hit the United States in the second half of 2023.
 
PacWest stock plummeted as investors remain worried about the financial sector, a decline which occurred despite Federal Reserve officials assuring market actors hours earlier that the banking system is “sound and resilient.”
PacWest stock plummeted as investors remain worried about the financial sector, a decline which occurred despite Federal Reserve officials assuring market actors hours earlier that the banking system is “sound and resilient.”
 
Western Alliance stock plummeted and partially recovered on Thursday as news outlets published reports that the regional bank would consider a sale, a claim the firm denied.
Western Alliance stock plummeted and partially recovered on Thursday as news outlets published reports that the regional bank would consider a sale, a claim the firm denied.
 
Unemployment fell in March as the number of new jobs aligned with expectations, according to data from the Bureau of Labor Statistics released Friday.
Unemployment fell in March as the number of new jobs aligned with expectations, according to data from the Bureau of Labor Statistics released Friday.
 
Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that she expects policymakers will increase the target federal funds rate beyond 5.0% as inflationary pressures continue to impact the economy.
Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday that she expects policymakers will increase the target federal funds rate beyond 5.0% as inflationary pressures continue to impact the economy.
 
JPMorgan Chase CEO Jamie Dimon expressed confidence about the future of the American economy despite the recent banking crisis that gripped the nation and his pessimistic comments last year.
JPMorgan Chase CEO Jamie Dimon expressed confidence about the future of the American economy despite the recent banking crisis that gripped the nation and his pessimistic comments last year.
 
The 17 former branches of SVB opened Monday morning as branches of First Citizens.
The 17 former branches of SVB opened Monday morning as branches of First Citizens.
 
Federal Deposit Insurance Corporation Chairman Martin Gruenberg revealed on Monday that the firm guaranteed as much as $13.3 billion in uninsured deposits for the 10 largest account holders at the defunct Silicon Valley Bank.
Federal Deposit Insurance Corporation Chairman Martin Gruenberg revealed on Monday that the firm guaranteed as much as $13.3 billion in uninsured deposits for the 10 largest account holders at the defunct Silicon Valley Bank.
 
As multiple banks implode, insurance deposit limit receives renewed scrutiny
As multiple banks implode, insurance deposit limit receives renewed scrutiny
 
One of Raleigh’s oldest banks is in the running to purchase the failed Silicon Valley Bank, also known as SVB.
One of Raleigh’s oldest banks is in the running to purchase the failed Silicon Valley Bank, also known as SVB.
 
First Citizens Bank will acquire Silicon Valley Bank on Monday after the latter company faced a run on deposits and collapsed.
First Citizens Bank will acquire Silicon Valley Bank on Monday after the latter company faced a run on deposits and collapsed.
 
North Carolina’s state pension system was among the victims of the recent collapse of two large Silicon Valley, California banks, with the loss of millions in stock at both banks.
North Carolina’s state pension system was among the victims of the recent collapse of two large Silicon Valley, California banks, with the loss of millions in stock at both banks.
 
Few Americans have trust in the nation’s banking sector following the recent collapses of Silicon Valley Bank and Signature Bank.
Few Americans have trust in the nation’s banking sector following the recent collapses of Silicon Valley Bank and Signature Bank.
 
Stocks slid after officials at the Federal Reserve announced a 0.25% increase in the target federal funds rate on Wednesday, continuing a slowdown from previous rate hikes meant to combat inflation and marking caution from policymakers given recent tumult in the banking sector.
Stocks slid after officials at the Federal Reserve announced a 0.25% increase in the target federal funds rate on Wednesday, continuing a slowdown from previous rate hikes meant to combat inflation and marking caution from policymakers given recent tumult in the banking sector.
 
Republican state attorneys general rebuked senior financial authorities on Tuesday over the role that left-wing regulatory priorities allegedly played in the recent collapse of Silicon Valley Bank.
Republican state attorneys general rebuked senior financial authorities on Tuesday over the role that left-wing regulatory priorities allegedly played in the recent collapse of Silicon Valley Bank.
 
In a stunning development resulting from the faltering of the United States banking system, banks have now begun calling their customers and asking for loans. According to reports, thousands of desperate bankers have called up lendees to ask for a few bucks.
In a stunning development resulting from the faltering of the United States banking system, banks have now begun calling their customers and asking for loans. According to reports, thousands of desperate bankers have called up lendees to ask for a few bucks.
 
At this time, the abbreviation 'NC' stands for 'no crisis.'” - State Treasurer Dale Folwell
At this time, the abbreviation 'NC' stands for 'no crisis.'” - State Treasurer Dale Folwell
 
The Federal Deposit Insurance Corporation (FDIC) announced on Monday that the bidding process for remaining assets at the defunct Silicon Valley Bank would be extended due to “substantial interest” from possible acquirers.
The Federal Deposit Insurance Corporation (FDIC) announced on Monday that the bidding process for remaining assets at the defunct Silicon Valley Bank would be extended due to “substantial interest” from possible acquirers.
 
Some 186 financial institutions in the United States are vulnerable to a collapse if uninsured depositors seek to withdraw their funds, according to a study from analysts with the National Bureau of Economic Research.
Some 186 financial institutions in the United States are vulnerable to a collapse if uninsured depositors seek to withdraw their funds, according to a study from analysts with the National Bureau of Economic Research.
 
Switzerland‘s two largest banks are poised to merge in a deal regulators sought to help create stability as volatility rocks financial institutions around the globe.
Switzerland‘s two largest banks are poised to merge in a deal regulators sought to help create stability as volatility rocks financial institutions around the globe.
 
Billionaire investor Warren Buffett reportedly spoke with Biden administration officials in recent days about contending with the banking crisis.
Billionaire investor Warren Buffett reportedly spoke with Biden administration officials in recent days about contending with the banking crisis.
 
Banking collapses have left the market reeling and worried about an imminent recession
 
Shares in First Republic Bank plummeted some 26% on Friday morning even after a rescue deal backed by a number of large financial institutions.
Shares in First Republic Bank plummeted some 26% on Friday morning even after a rescue deal backed by a number of large financial institutions.
 
Treasury Secretary Janet Yellen admitted in a Senate Finance Committee hearing Thursday that the Federal Deposit Insurance Corporation and the Federal Reserve might not guarantee large deposits at small community banks like they did for a failed California bank.
Treasury Secretary Janet Yellen admitted in a Senate Finance Committee hearing Thursday that the Federal Deposit Insurance Corporation and the Federal Reserve might not guarantee large deposits at small community banks like they did for a failed California bank.
 
Sen. Elizabeth Warren (D-MA) and Rep. Maxine Waters (D-CA) asserted that the Federal Deposit Insurance Corporation should “reexamine” the $250,000 deposit insurance threshold on bank accounts.
Sen. Elizabeth Warren (D-MA) and Rep. Maxine Waters (D-CA) asserted that the Federal Deposit Insurance Corporation should “reexamine” the $250,000 deposit insurance threshold on bank accounts.
 
Treasury Secretary Janet Yellen told members of the Senate Finance Committee on Thursday morning that the American financial system “remains sound” despite two recent bank failures.
Treasury Secretary Janet Yellen told members of the Senate Finance Committee on Thursday morning that the American financial system “remains sound” despite two recent bank failures.
 
Executives at investment bank Credit Suisse accepted a lifeline from Swiss authorities on Wednesday as concerns of a worldwide financial crisis loom.
Executives at investment bank Credit Suisse accepted a lifeline from Swiss authorities on Wednesday as concerns of a worldwide financial crisis loom.
 
SVB Financial Group, the parent company of now-defunct Silicon Valley Bank, is considering bankruptcy as a possible mechanism to sell its other assets, according to a Wednesday report from Reuters.
SVB Financial Group, the parent company of now-defunct Silicon Valley Bank, is considering bankruptcy as a possible mechanism to sell its other assets, according to a Wednesday report from Reuters.
 
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