Shares of Pacific Western Bank fell again on May 10 after the lender confirmed it continued to see deposit outflows of nearly 10 percent in the first week of the month. The California-based lender disclosed in a securities filing that its deposits fell around 9.5 percent during the week of May 5, with the majority of withdrawals taking…
Pacific Western Shares Slide as Bank Reports Deposits Fall, Pledges More Assets as Collateral
The Banks Are Still in Trouble
The last few days have revealed just how bad the first quarter was for the banking sector. Credit Suisse, which in March collapsed into the arms of its main competitor UBS, recently reported that it had lost $69 billion of customer deposits in the first quarter, bringing the six-month total to an astronomical $225 billion…
Warren Buffet Bets $1 Million That No American Will Lose Money in Coming Bank Failures
Billionaire investor Warren Buffett predicts more U.S. banks will fail, yet he’s so confident that not a single American depositor will lose any money in a bank collapse thanks to federal deposit insurance that he’s willing to bet $1 million on that outcome. “We’re not through with bank failures,” Buffett said in an interview on CNBC’s…
Biden Says Deposits Are Safe, US Banks in ‘Pretty Good Shape’
OTTAWA, Canada—President Joe Biden on Friday praised his administration’s management of the recent banking crisis, saying that the banks are in good shape but that it will take some time for markets to settle down. “I think we’ve done a pretty … good job. People’s savings are secure,” Biden said during a press conference in…
‘Most Vulnerable’ US Banks Lost $1 Trillion in Deposits in a Year: JPMorgan
New YORK—JPMorgan Chase & Co. analysts estimate that the “most vulnerable” U.S. banks are likely to have lost a total of about $1 trillion in deposits since last year, with half of the outflows occurring in March following the collapse of Silicon Valley Bank. The team of JPMorgan analysts led by Nikolaos Panigirtzoglou did not…
Canada’s Banking System Differs From US, Unlikely to See Run on Deposits: Economist
News Analysis Canada’s banks are fundamentally different from American banks and less likely to suffer from the malaise that has consumed the U.S. financial system for most of March, says a U.S.-based economist and former senior fellow with the Montreal Economic Institute. He nevertheless adds that banking reform, as it relates to protection for depositors,…
Not All Uninsured Deposits Will Be Government-Protected in Future Bank Failures: Yellen
March 20, 2023
admin
bankBusiness & Marketsdepositseconomic policieseconomyInvestmentpersonal financeSilicon Valley BankUSUS Newsyellen
0 Comment
Not all Americans’ uninsured deposits will be protected by the federal government in the event of future bank collapses, Treasury Secretary Janet Yellen warned during a hearing before the U.S. Senate Finance Committee on March 16. “I can reassure the members of the committee that our banking system remains sound and that Americans can feel confident…
Banks Begin Failing as Biden Authorizes FDIC Takeover: How to Prepare | Facts Matter
On March 10, Silicon Valley Bank was closed by financial regulators, making it not only the first bank to fail since the 2008 financial crisis, but also, given the fact that they had over $175 billion worth of deposits, they are the second largest bank to fail in all of U.S. history. But then, it…
Silicon Valley Bank Fails, FDIC Steps in to Protect Depositors From Losing All Their Money
March 10, 2023
admin
Bank RunBusiness & MarketsCompaniesdepositseconomic policieseconomyFDICInvestmentpersonal financeSVBUS
0 Comment
The Federal Deposit Insurance Corporation (FCIC) has assumed control of Silicon Valley Bank (SVB) to protect depositors from losing all of their money after it was closed by the California Department of Financial Protection and Innovation. Federal banking regulators on March 10 took custody of the country’s 16th largest bank, which was a top lender for American…
FDIC Takes Control of Silicon Valley Bank After Its Collapse
March 10, 2023
admin
Bank RunBusiness & MarketsCompaniesdepositseconomic policieseconomyFDICInvestmentpersonal financeSVBUS
0 Comment
The Federal Deposit Insurance Corporation (FCIC) has assumed control of Silicon Valley Bank (SVB) to protect depositors from losing all of their money after it was closed by the California Department of Financial Protection and Innovation. Federal banking regulators on March 10 took custody of the country’s 16th largest bank, which was a top lender for American…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta