NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be made whole, similar to a decision made by the federal government to bail out California’s Silicon Valley Bank (SVB).
FDIC Investigating First Republic Bank Amid Bank Run Concerns: BrightScope CEO
Alfred confirmed that First Republic Bank started limiting outbound wires on Saturday, and eventually stopped processing wires altogether by the end of the day.
Rumors Circulate of Potential FDIC Takeover of First Republic Bank
It remains to be seen whether the rumors of a takeover will materialize, and if so, what the implications will be for First Republic Bank and its stakeholders.
Silicon Valley Bank Failure Could Trigger Run on U.S. Regional Banks
Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions concerning the future of Silicon Valley Bank may affect regional banks across the United States, putting trillions of dollars at risk of a bank run, said former Bridgewater executive and CEO of investment firm Unlimited Bob Elliot.
FDIC Races to Return Some Uninsured SVB Deposits Monday
The initial payout — the amount of which is still being determined — would aim to tide over the firm’s distressed customers, many of them Silicon Valley entrepreneurs and their companies, with more cash to follow as the bank’s assets are sold. The amount will depend in part on the Federal Deposit Insurance Corp.’s progress in turning assets to cash by Sunday night.
SVB’s New Owner, the FDIC, Gives Workers 45 Days of Employment
The Federal Deposit Insurance Corporation added a few new employees to its payroll late Friday, taking on workers from shuttered Silicon Valley Bank, at least for a few weeks, as it serves as receiver of the collapsed lending institution.
FDIC Races to Return Some Uninsured SVB Deposits Monday
US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.
U.S. Lawmakers Met With Fed, FDIC to Discuss Collapse of Silicon Valley Bank: Source
U.S. lawmakers met with the Federal Reserve and Federal Deposit Insurance Corp. on Friday to discuss the collapse of Silicon Valley Bank (SVB).
Silvergate Reportedly Talks With FDIC on Ways To Avoid Shutdown
United States banking regulators have reportedly been sent to Silvergate's headquarters in La Jolla, California — looking for ways to save the crypto-friendly bank from a possible shutdown.
FDIC-Insured Citizens Trust Bank To Hold $65M in USDC Reserves
Citizens Trust Bank, a financial institution regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD Coin (USDC) — a move the companies said would promote financial inclusion and digital literacy in the greater Atlanta area.
