After the collapse of Switzerland’s second-largest bank, Credit Suisse, investors looking for the next bank failure fixed their eyes on Deutsche Bank, Germany’s largest bank. The tell-tale signs of blood in the water appear in a bank’s share price and the cost of its credit-default swaps (CDS). Equity investors last week sold off Deutsche Bank…
Analysts: Deutsche Bank Is Not the Next Credit Suisse
March 30, 2023
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LIVE NOW: FDIC, Federal Reserve, and Dept. of Treasury Officials Testify to Senate on Recent Bank Failures
March 28, 2023
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The Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg; Federal Reserve Board Vice Chairman for Supervision Michael Barr; and Under Secretary of the Treasury for Domestic Finance Nellie Liang testify on the “Recent Bank Failures and the Federal Regulatory Response” in a hybrid hearing by U.S. Senate Bank Committee at 10:00 a.m. ET on March…
LIVE NOW: Senate Committee Holds Hearing on Silicon Valley Bank Collapse
March 28, 2023
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The Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg; Federal Reserve Board Vice Chairman for Supervision Michael Barr; and Under Secretary of the Treasury for Domestic Finance Nellie Liang testify on the “Recent Bank Failures and the Federal Regulatory Response” in a hybrid hearing by U.S. Senate Bank Committee at 10:00 a.m. ET on March…
The Fed’s Dilemma: Fight Inflation or Save Failing Banks
March 25, 2023
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The Federal Reserve has painted itself into a corner with its fight against inflation, and some experts say it now has no coherent plan for how to get out of it. Having kept interest rates near zero for more than a decade and expanded its balance sheet to $9 trillion to stimulate the economy, the…
Canada’s Banking System Safe, Recession and High Unemployment Still Likely: Experts
Canada’s bank system is safe from widespread failure, but a recession coupled with high unemployment rates remains likely, expert witnesses told the House of Commons standing committee on finance March 23. Representatives from BMO and Desjardins Group answered MP questions about U.S. banking volatility and whether Canada’s banking system is in any danger. Canada’s banks…
Senate Committee on Banking to Hold Hearings on SVB Collapse: ‘Hold Those Responsible Accountable’
March 22, 2023
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The Senate Committee on Banking, Housing and Urban Affairs said it would hold hearings next week on the collapse of Silicon Valley Bank (SVB) and Signature Bank earlier this month. Senate Banking Committee chairman Sherrod Brown (D-Ohio) announced on March 21 the first of several hearings on the latest banking crisis and promised to hold those responsible…
How to Protect Your Money in a Bank Failure
March 21, 2023
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Two large banks in the United States, Silicon Valley Bank and Signature Bank, have recently failed. Most people are aware of it, and it has left many people wondering if their money is safe in a bank. Besides the bank failures, other economic conditions have added to the confusion causing people to wonder how to…
Goldman Sachs Cuts GDP Forecast, Warns of Economic Hit From Bank Rout
March 16, 2023
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Goldman Sachs Group (GSG) slashed its U.S. GDP forecast and warned of an economic hit from recent bank failures. The investment bank raised its estimate of the odds of an American recession on March 15, to 35 percent over the next 12 months due to increased concern over the economic impact of stress in the…
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