NEW YORK - North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sendin...
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WSJ: UBS Confirms Acquisition of Credit Suisse in Over $3 Billion Deal
UBS Group AG agreed to take over its longtime rival Credit Suisse Group AG more than $3 billion, pushed into the biggest banking deal in years by regulators eager to halt a dangerous decline in co...
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Fed’s Emergency Bank Lending Soars to New Record
Financial institutions took billions in short-term loans this week from the Federal Reserve as the industry copes with a serious crisis of confidence and liquidity, the central bank reported Thurs...
Investing
A Retrospective on US Financial Crises: Lessons from History and Unique Analyses
As we navigate through the current economic turmoil caused by the COVID-19 pandemic, it is crucial to learn from our past financial crises. From the Great Depression to the 2008 recession, America's h...
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Eleven Banks Deposit $30 Billion in First Republic Bank
WSJ: The biggest banks in the U.S. swooped in to rescue First Republic Bank FRC 9.98%increase; green up pointing triangle
with a flood of cash totaling $30 billion, in an effort to stop a sprea...
Investing
Credit Suisse to borrow up to $54 bln from Swiss National Bank
Investing.com -- Embattled Swiss lender Credit Suisse Group AG (SIX:CSGN) (NYSE:CS) said on early-Thursday that it will exercise an option to borrow up to 50 billion Swiss francs ($53.68 billion) ...
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What Does the Silicon Valley Bank Collapse Mean For The Economy?
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...