Tag: credit
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Silicon Valley Bank’s former parent company says FDIC seized about $2 billion in cash
Silicon Valley Bank’s former parent company cannot access about $2 billion it deposited with the bankrupt bank after regulators froze the company’s accounts and are investigating whether it should bear costs related to the bank’s bankruptcy . Lawyers for SVB Financial Group, the holding company that formerly controlled the now-defunct bank, alleged Tuesday at the […]
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First Republic Bank asks Lazard for help with strategic options assessment
First Republic Bank FRC 29.47% strengthens his ranks of advisors as the troubled lender tries to stay afloat and plan for a post-crisis future amid a transatlantic crisis of confidence in the banking system. The Bank of California this week tapped Lazard Ltd. LAZ 3.23% to help assess strategic options, such as a sale, a […]
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What the Fed’s next move means for mortgages, loans and credit cards
The bar Americans must clear to get approved for loans and credit cards is likely to rise along with interest rates, due in part to the fallout from the collapse of Silicon Valley Bank. The Federal Reserve is expected to raise rates again on Wednesday, though some economists say it could go on hiatus this […]
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Fund managers fear a ‘systemic credit event’ as the biggest threat to markets: BofA
Published: March 21, 2023 at 8:53 a.m. ET Fund managers fear a systemic credit crunch is the biggest tail risk this month, Bank of America strategists said, citing data from their latest poll. The bank’s most recent global survey of fund managers found that 31% of the 212 fund managers surveyed chose the biggest threat […]
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JPMorgan CEO Jamie Dimon leads efforts to create new First Republic Bank Rescue Plan
Discussions, while tentative, focused on how the industry could arrange an investment that would bolster the bank’s capital, according to people familiar with the matter. One of the options on the table, people said, is an investment in First Republic by the banks themselves. Eleven major banks joined forces last week to deposit $30 billion […]
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Senator Elizabeth Warren is calling for an independent inquiry into the Fed’s banking regulations
Published: March 19, 2023 at 7:05 PM ET Senator Elizabeth Warren is calling for an independent investigation into the Federal Reserve and “the entire regulatory system” following the banking sector’s worst crisis in more than a decade. On Sunday, the Massachusetts Democrat told ABC News’ This Week that the chaos of the past few weeks […]