In the wake of the failure of several regional banks, lawmakers are furiously at work drafting new bills to give regulatory authorities more control over banks. But some experts say that bank regulators already had all the power they needed, but failed to use it effectively. “Every time we have a crisis on our hands,…
Bank Regulators Want New Powers to See What Many Say Should Have Been Obvious
June 24, 2023
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bank regulationBusiness & Marketseconomic policiesFDICFederal ReserveFirst Republic Bankpersonal financePolicies & Impactsregional banksSignature BankSVB CollapseUSUS News
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Regional Banks Scramble to Unload Commercial Real Estate Loans, Fearing New Crisis
June 14, 2023
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bank failuresBusiness & Marketscommercial real estateCompanieseconomyInvestmentregional banksSilicon Valley Bank CollapseUS
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The work-from-home trend has been taking its toll on office landlords and is now making its way through to banks’ commercial loan portfolios, leading some analysts to predict that more trauma could be on the way for regional banks this year. And in the current climate of bank failures, short sellers, and nervous depositors, banks…
Jamie Dimon Sees Rough Times Ahead for Smaller Banks, Predicting Interest Rates as High as 7 Percent
May 24, 2023
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Business & MarketsCompanieseconomic policieseconomyinflationJamie DimonJPMorgan ChaseMarketsrecessionregional banksUS
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JPMorgan CEO Jamie Dimon, predicts rough times ahead for regional banks and warns of more deposit runs, as future interest rate hikes become increasingly likely. Dimon warned at a May 22 Q&A Investor Day meeting at JPMorgan Chase that interest rates were likely to go higher from here and rise to as much as 7 percent….
Regional Bank Stocks See Sharp Rebound After Jobs Report Posts Huge Beat
Regional bank shares rallied sharply premarket and extended those gains in early trading Friday after a bruising session the day prior, as a government jobs report beat market forecasts for both payroll growth and the unemployment rate despite banking sector turmoil and a slowing economy. PacWest led the charge in the regional bank stock rebound,…
Regional Banking System ‘at Risk,’ Warns Bill Ackman
Famed investor Bill Ackman is warning that America’s regional banking system is at risk and criticized the Federal Deposit Insurance Corporation (FDIC) for worsening the banking crisis facing the nation. “The regional banking system is at risk,” Ackman stated in a tweet on May 4. The collapse of Silicon Valley Bank (SVB) has “woke up…
Regional Bank Stocks Plunge as Gloom from First Republic Failure Sinks Markets
May 2, 2023
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Business & MarketseconomyFirst Republic BankMarketsPacWestRegional & State Newsregional banksstocksUSUS News
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A day after U.S. financial regulators ordered First Republic Bank closed and JPMorgan Chase agreed to take it over in a rescue move, other regional bank stocks have plunged. In early trading on Tuesday, regional bank stock indexes fell sharply amid persistent jitters following Monday’s regulatory decision to seize First Republic and then facilitate its…
Yellen: Government Could Step in Again to Protect Other Banks From Deposit Runs to Stop Contagion
March 21, 2023
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banking sectorBusiness & MarketsCompaniescongresseconomic policieseconomyExecutive BranchFDICinflationInvestmentJanet YellenMarketsPolicies & ImpactsPoliticsRegional & State Newsregional banksSilicon Valley BankUSUS News
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U.S. Treasury Secretary Janet Yellen on Tuesday defended government intervention in the banking sector and suggested that it may be necessary to take similar measures in case smaller financial institutions experience deposit runs that could lead to contagion. She also called the American banking system “sound,’ and said that overall “the situation is stabilizing” due to…
What’s Ailing Regional Banks?
Commentary Bank runs, as they say, have a way of spiraling. The first two bank failures, those of Silvergate Bank and Silicon Valley Bank (SVB), were the results of idiosyncratic circumstances at those two entities. Or so the analysts say. But when New York-based Signature Bank was also taken over by regulators on March 12,…
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