The Federal Deposit Insurance Corporation (FDIC) is looking to sell a $60 billion loan portfolio in the new few months, which it acquired in receivership following the collapse of Signature Bank last month. The portfolio mainly consists of commercial real estate loans (CRE), commercial loans, and a small pool of single-family residential loans, the FDIC said in a statement….
FDIC Looking to Sell $60 Billion Loan Portfolio It Acquired From Failed Signature Bank
April 4, 2023
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Should You Be Worried About Your Money in the Bank?
On the off chance you haven’t been paying attention to world news, several banks in the U.S. collapsed (gone broke, busted, washed up, taken down, bankrupt) in recent days. Now, others here and abroad appear to be threatening to follow suit. In A Nutshell What this means is that these failed banks accepted customers’ deposits,…
White House Calls For Tougher Bank Rules After Crisis
President Joe Biden is urging federal banking agencies to consider a series of reforms that would “reduce the risk of a future banking crisis” and refrain from penalizing community banks, says a White House official. Speaking in a call with reporters on Thursday, the administration official confirmed that the president is recommending reinstating rules and…
Fed Was in Talks With Silicon Valley Bank to Use Discount Window Before Collapse
March 30, 2023
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Federal Reserve officials were reportedly in discussions with Silicon Valley Bank (SVB) to use its discount window, right before its collapse earlier this month. The Fed’s top enforcer testified in front of Congress on March 29, as the elected representatives demanded answers for the California-based lender’s collapse. House lawmakers questioned the regulators’ competency and accused…
Bank Deposit Bailouts Could Cost Taxpayers Billions
March 29, 2023
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Following a string of regional bank failures over the past several weeks, bank regulators were quick to guarantee all depositors for the full balance of their bank accounts, even beyond the $250,000 limit set by the Federal Deposit Insurance Corp. (FDIC). At the time, the Biden administration assured Americans that taxpayers would not be on…
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…
Silicon Valley Bank and the Soft Pivot of Our Weak-Kneed Fed
March 23, 2023
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Commentary Old habits die hard for the folks over at the Federal Reserve, who immediately rung in the 2023 financial crisis with what will in due time be recalled as the fifth round of quantitative easing, the Fed’s preferred term for monetary expansion. It’s now apparent that the Fed currently finds itself between a proverbial…
Former FDIC Chair Speaks Out Against SVB ‘Bailout,’ Says Biden Admin Overreacted
Sheila Bair, former chair of the Federal Deposit Insurance Corporation (FDIC), has criticized the Biden administration’s decision to guarantee all deposits at the failed Silicon Valley Bank (SVB), labeling it an “overreaction.” Bair said during a recent appearance on “The Washington Post Live” series that insuring all deposits at SVB and at the failed Signature…
Yellen: Government Could Step in Again to Protect Other Banks From Deposit Runs to Stop Contagion
March 21, 2023
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U.S. Treasury Secretary Janet Yellen on Tuesday defended government intervention in the banking sector and suggested that it may be necessary to take similar measures in case smaller financial institutions experience deposit runs that could lead to contagion. She also called the American banking system “sound,’ and said that overall “the situation is stabilizing” due to…
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