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Tag: PacWest Bancorp

  • First Republic rallies 25% Monday to lead regional banks’ comeback

    Bloomberg News reported Saturday that US officials are considering expanding federal programs that provide banks with liquidity, in part to help First Republic search for a buyer. CNBC reported on Saturday that the inflow of deposits into major banks from the smaller regions has slowed significantly. Regional bank stocks have been under a lot of […]

  • Stocks make the biggest moves premarket: PINS, FCNCA, CAT

    Jim Umpleby, CEO of Caterpillar Inc. Adam Jeffrey | CNBC Check out the companies making headlines before the bell rings. Pinterest — Pinterest gained 4.3% after UBS upgraded its social media stock to buy, saying shares could rise more than 25% as the company improves its advertising strategy. First Citizens BancShares — Stocks rose 40% […]

  • Deposit outflow from small banks to JPM, WFC, C delayed

    The wave of deposits moving from smaller banks to big institutions like JPMorgan Chase and Wells Fargo has slowed to a trickle in recent days, CNBC has learned. Deposit outflows, which rocked markets worldwide and forced regulators to step in to protect bank customers, began to improve around March 16, people with knowledge of inflows […]

  • Janet Yellen’s guarantee to banks has a catch

    US Treasury Janet Yellen speaks at the American Bankers Association Washington Summit on March 21, 2023 in Washington, DC. Drew Anger | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need to […]

  • TSLA, FRC, UBS, FL and more

    A vehicle charges at a Tesla Supercharging station in Corte Madera, California, USA on Thursday, March 2, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making the biggest strides in premarket trading: Tesla – The electric vehicle maker rose 2% after Moody’s gave it a Baa3 rating and removed its […]

  • Not everyone is happy that UBS is buying Credit Suisse

    A construction site security guard outside a bank branch of Credit Suisse Group AG in Bern, Switzerland, on Monday, March 20, 2023. Stefan Wermuth | Bloomberg | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they need […]

  • 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 […]

  • US stocks rise, but First Republic Bank slides

    In trading at 4pm ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 was up 0.9%. The tech-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday, but so far have remained relatively isolated from the banking crisis. Authorities have been trying to halt a dangerous drop in […]

  • Stocks make the biggest moves premarket: CS, LEN, PACW

    Axel Lehmann, Chairman of Credit Suisse Group AG, speaks at the annual membership meeting of the Institute of International Finance (IIF) in Washington, DC, on Friday, October 14, 2022. Ting Shen | Bloomberg | Getty Images Check out the companies making headlines before the bell rings. Credit Suisse — Shares of Credit Suisse fell 21.5% […]

  • FDIC transfers all deposits from Silicon Valley Bank to the newly established bridge bank

    The Federal Deposit Insurance Corp. said Monday it transferred all deposits, both insured and uninsured, from the former Silicon Valley Bank to a newly created full-service FDIC-managed bridge bank in a move that aims to protect all of the bank’s depositors. The move comes after the regulator closed the bank and its 13 branches on […]