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…
ANALYSIS: How the Current Banking Crisis Is Different From the Financial Crisis of 2008
May 2, 2023
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
ANALYSIS: How the Current Banking Crisis Differs From the Financial Crisis of 2008
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
ANALYSIS: Comparing Today’s Banking Crisis to the 2008 Meltdown
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
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…
Signature Bank Executives Allegedly Sold $100 Million in Stock During Crypto Surge: WSJ
April 6, 2023
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Executives and directors at the recently failed Signature Bank allegedly sold more than $100 million in stock during the crypto boom. Senior bank insiders have been accused of participating in this scheme for three years leading up to the bank’s collapse in early March, according an analysis by The Wall Street Journal. Signature Bank collapsed on…
FDIC Looking to Sell $60 Billion Loan Portfolio It Acquired From Failed Signature Bank
April 4, 2023
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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….
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: Top Federal Banking Officials Testify to House on SVB and Signature Bank Failures
March 29, 2023
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Federal Deposit Insurance Corporation Chairman of the Board of Directors Martin Gruenberg; Federal Reserve Board of Governors Vice Chair for Supervision Michael Barr; and Under Secretary of the Treasury for Domestic Finance Nellie Liang testify at the U.S. House Financial Services Committee’s hearing on The Federal Regulators’ Response to Recent Bank Failures at 10:00 a.m. ET on…
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