Tag: DIS
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US organizes ‘material action’ to stop SVB outages
NEW YORK, March 12 (Reuters) – US authorities on Sunday were preparing “material action” to bolster deposits at Silicon Valley Bank (SVB) and try to mitigate any wider financial fallout from the sudden collapse of the technology-based startup-focused lender counter. sources familiar with the matter told Reuters. Officials in the Biden administration worked all weekend […]
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US considering new fund to cover deposits as more banks fail, Bloomberg News says
March 11 (Reuters) – The US Federal Reserve and the Federal Deposit Insurance Corp are considering the creation of a fund that would allow regulators to cover more deposits at banks troubled by the collapse of Silicon Valley Bank, Bloomberg News reported on Saturday. Regulators discussed the new dedicated vehicle in talks with bank executives […]
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Silicon Valley Bank employees offered 45 days of work at 1.5 times wages, FDIC email shows
NEW YORK, March 11 (Reuters) – Silicon Valley Bank employees were offered 45 days of work at one and a half times their salary by the Federal Deposit Insurance Corp, the US regulator that took control of the collapsed lender on Friday, according to an email to employees seen by Reuters. Workers will be enrolled […]
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The UK Chancellor of the Exchequer and the Bank of England are working to contain the effects of the SVB
LONDON, March 11 (Reuters) – The UK Treasury and the Bank of England are working together to minimize the disruption that could result from a collapse of the UK arm of Silicon Valley Bank (SIVB.O), which has seized taken by US regulators. , the ministry said on Saturday. Talks were scheduled later on Saturday to […]