Commentary In the most recent failure in the banking sector, earlier this week First Republic Bank collapsed, was placed into Federal Deposit Insurance Corp. (FDIC) receivership, and had most of its assets sold to JPMorgan Chase. With some $232 billion of assets, this marked the second-largest U.S. bank failure ever, only surpassed by Washington Mutual…
The Next Phase of the Banking Crisis
May 4, 2023
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Nearly Half of US Citizens Worried Their Bank Deposits Are Not Safe: Survey
May 4, 2023
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Nearly half of Americans are worried that their bank deposits are not safe, which is similar to levels last seen during the financial crisis of 2008–09, a recent Gallup survey has found. In the survey, 48 percent of U.S. adults said they were concerned about their money deposited in banks, with 19 percent saying they…
Ottawa Grants Itself Extraordinary Powers to Prepare for ‘Potential’ Bank Runs
April 29, 2023
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Bank scares in the United States and Switzerland have prompted the federal government to grant itself extraordinary powers to stem any financial panic in Canada, a parliamentary committee heard on April 27. Testifying before the Standing Committee on Finance, Rachel Grasham, a senior director with the federal finance department said those powers will be used…
Federal Reserve Admits It ‘Failed’ in Lead up to Silicon Valley Bank Collapse
The banking crisis that formed from the failures of Silicon Valley Bank (SVB) and Signature Bank was the result of a wide range of factors, including Federal Reserve supervisors who did not do enough to make sure that SVB management fixed the company’s problems, according to a new report from the central bank. The Fed Board…
LIVE 5 PM ET: NTD Business (April 25): GM ending production of Chevy bolt EV; First Republic Bank Shares Plummet nearly 50%
April 25, 2023
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Shares of First Republic Bank plummeted today, after it revealed massive withdrawal of deposit in the last quarter, it’s also laying off workers. The cheapest American EV is going away. Stay tuned to find out why GM is ending the production. Manufacturing giant 3M announcing a major layoffs today—how many are they letting go, and…
LIVE 5 PM ET: NTD Business (April 25): GM Ending Production of Chevy Bolt EV; First Republic Bank Shares Plummet Nearly 50 Percent
April 25, 2023
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3MbidenBusiness & MarketsChatGPTchevy bolteconomic policieseconomyEpochTVFirst Republic BankGeneral MotorsInvestmentLive VideosMarketsNTD BusinessSilicon Valley BankUSVideo
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Shares of First Republic Bank plummeted Tuesday, after it revealed a massive withdrawal of deposits in the last quarter. It’s also laying off workers. The cheapest American EV is going away. Find out why GM is ending the production. Manufacturing giant 3M announced major layoffs Tuesday—how many are they letting go, and why? In its…
Financial Turmoil Lingers as Fed Emergency Loans to Banks Pick Up Pace
Stresses continue to linger in the U.S. financial sector following a series of bank failures last month as banks have ramped up their borrowing from the Federal Reserve’s emergency lending facilities for the first time since the immediate aftermath of the spectacular collapse of Silicon Valley Bank (SVB) on March 10. Usage of the Fed’s…
US Lawmakers Went on Bank Stock-Selling Spree Amid Banking Crisis
Dozens of members of Congress and their close relatives continued to sell off banking stocks amid the extreme financial turbulence in March prompted by the collapse of Silicon Valley Bank (SVB), according to an analysis by Capitol Trades. Many of the selloffs came at the same time as some of the lawmakers were actively meeting with banking…
IN-DEPTH: Key Risks Facing Banks and What Americans Can Do About Them
April 19, 2023
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While the threat of financial contagion has abated following the bank turmoil sparked by the collapse of Silicon Valley Bank (SVB), experts warn that there are still risks facing U.S. banks that Americans should be mindful of. The collapse of SVB sent shockwaves through the U.S. banking sector, sparking a crisis of confidence and an…
Banking Turmoil Caused by SVB Mismanagement, Not Trump-Era Rollbacks: FDIC Official
April 12, 2023
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Former President Donald Trump’s loosening of rules in the banking sector in 2018 “had nothing to do with” the failure of Silicon Valley Bank and Signature Bank, according to Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill. Since the collapse of SVB and Signature Bank, a chorus of Democrats have asserted that the former…
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