amelia.td (Amelia Thomson-DeVeaux, senior reporter): On Friday, financial regulators announced that they were taking control of Silicon Valley Bank, signaling the largest bank collapse since the globa...
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ABCNews: Amid crisis, Biden tells Americans ‘banking system is safe’
President Joe Biden spoke out Monday morning in an effort to reassure Americans there is no need for panic after federal agencies stepped in following the failures of two big banks over the weekend.
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Banking crisis: President Joe Biden says taxpayer money won’t be used to bail out SVB, Signature Bank
YAHOO Finance – President Joe Biden sought to calm market and taxpayer jitters early Monday, saying Americans can have "confidence" in the banking system after the collapse of Silicon Valley Bank.
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Joe Biden Dodges Questions After ‘Assurance Speech’ Amid Banking Crisis
US President Joe Biden's "gaffes" have a tendency to go viral and while his ducking out of planned press conferences mid-question was initially brushed off as amusing, the latest instance in the c...
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Bloomberg: First Republic Says Fed, JPMorgan, Push Liquidity to $70 Billion
(Bloomberg) -- The turmoil following the collapse of Silicon Valley Bank continued to spread Monday, with First Republic Bank shares falling about 60% in pre-market trading despite efforts by the US r...
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CNBC: First Republic drops 70%, leads decline in bank stocks despite government’s backstop of SVB
First Republic Bank led a decline in bank shares Monday that came even after regulators’ extraordinary actions Sunday evening to backstop all depositors in failed Silicon Valley Bank and Signature Ban...
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Bloomberg: US Regional Banks Remain Under Pressure as First Republic Sinks
(Bloomberg) -- The positive effect from the American regulators’ overnight support actions in the banking system quickly evaporated on Monday morning, with stocks signaling that fallout from the incid...
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Charles Schwab stock selloff deepens; Morgan Stanley calls it overdone
Charles Schwab (NYSE:SCHW) stock tanked 8% in Friday morning trading, adding to the 13% drop in the prior session when an 8.5M share block sale spooked investors. Even so, Morgan Stanley thinks the se...
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Bloomberg: Schwab Has Worst Drop in Years After SVB, Block Trade
(Bloomberg) -- The worst two-day stretch since 2016 for Charles Schwab Corp. looks like a case of bad timing for the buyers behind a large block trade in the brokerage.
Schwab is down 17% since...
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NYTimes: U.S. Steps In to Protect All Deposits at Silicon Valley Bank
Regulators also moved to contain damage, closing another bank and opening an emergency lending program. HSBC agreed to buy the lender’s British subsidiary.
Here’s what you need to know about Sili...
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