US Banks

Collapse of Silicon Valley Bank, Signature Bank and First Republic Bank exposed different vulnerabilities that the Fed will likely address through new proposals, Powell said

First Republic Bank is the third major US bank to fail in two months after Silicon Valley Bank and Signature Bank

The scrutiny of bank stock, which will kick off the earnings season, will be more this time in the wake of the two biggest bank failures since the 2008 financial crisis

The Fed's report showed that by bank size, lending decreased $23.5 billion at the 25 largest domestically chartered banks in the latest two weeks

Economists say one factor working in favour of Asia-Pacific is generally softer pivot in monetary policy, with central banks in Australia, S Korea, Indonesia and India pausing their tightening cycles

The government shouldn't overreact to the banking crisis by imposing more rules on the industry, Dimon said

Before the collapse of Silvergate Capital Corp and other regional institutions, bigger banks were steeling themselves for more regulations since Michael Barr took over as the Fed's No. 2 official

Virgin Orbit, the rocket company founded by British billionaire Richard Branson, has filed for bankruptcy after announcing to lay off 85 per cent of its employees.

The Federal Reserve's bank supervisors informed Silicon Valley Bank's management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said on Tuesday, but the bank's managers failed to take the steps necessary to fix its problems. The Fed official, Michael Barr, the nation's top banking regulator, said during a Senate Banking Committee hearing that the Fed is considering whether stronger bank rules are needed to prevent a similar bank failure in the future. Supervisors had rated the bank at a very low rating," Barr said. At the holding company level it was rated deficient, which is also clearly not well-managed. The timeline that Barr laid out for when the Fed had alerted Silicon Valley Bank's management to the risks it faced is earlier than the central bank has previously said the bank was on its radar screen. Silicon Valley's deposits grew rapidly and were heavily concentrated in the high-tech sector, which made it particularly ...

The collapse of Silicon Valley Bank and the swift intervention by the US authorities hold lessons for India - to complete the unfinished policy agenda on handling failed financial firms

The lender said it will assume $56 billion in deposits and 17 legacy branches will begin operating Silicon Valley Bank, a division of First Citizens

Immediate action by the government to help Indian startups in the aftermath of Silicon Valley Bank (SVB) collapse ensured they were not adversely impacted by the "minor crisis", Union Minister Ashwini Vaishnaw said on Monday. He also exhorted the entire startup community to think of the Indian banking sector as their trusted partner. Vaishnaw, Minister for IT and Communications, also noted the rapid strides taken by India in areas of Artificial Intelligence (AI) and quantum computing. Speaking at India Global Forum event, the Minister said while there was a time when India was only seen as a consumer of technology, today "many global developers like to have Indian start ups, entrepreneurs and academicians as their partners, as technology gets developed". "... In these two technologies, we would like use of Indian talent for developing solutions for India and for the world," he said. To a question on whether India can produce something equivant to ChatGPT, the Minister said "wait f

Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15

The Swiss banks were included in a recent wave of subpoenas sent out by the US government, the people said. The information requests were sent before the crisis

Regularly scheduled meeting could discuss banking troubles in the US and Europe

Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on March 25 for performance review in the backdrop of failure of few banks in the US and liquidity crisis faced by Credit Suisse. The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and emergency credit line guarantee scheme (ECLGS) to help businesses affected by Covid-19, according to sources. This is the first full review meeting after the presentation of Budget 2023-24 and banks would be asked to focus on the areas highlighted by the Budget including credit flow to productive sectors. The finance minister would review credit growth, asset quality, and capital raising and business growth plan of banks for next financial year, the sources said, adding non-performing assets (NPAs) of Rs 100 crore and the recovery status

Veteran company executive previously handled roles in consumer banking, retail, cards

The West can learn from India the art of keeping a balance between the asset and liabilities sides. But it won't

The bank is currently operating at a loss and that is not sustainable over the longer term absent a balance sheet restructuring, they said

Market valuations are becoming reasonable