Finance Minister Chrystia Freeland is assuring that Canada’s financial institutions are secure after meeting with the head of Canada’s bank regulator and the Bank of Canada. The meeting follows the closure of California-based Silicon Valley Bank by U.S. regulator on Friday, which also prompted Canada’s Office of the Superintendent of Financial Institutions (OSFI) to seize…
Freeland Meets With Bank Regulator Head, BoC Following US Bank Collapse
‘It Is a Bailout’: Former FDIC Chair Says of Special Treatment of Silicon Valley, Signature Bank
Former Federal Deposit Insurance Corporation (FDIC) chair Sheila Bair has said that Silicon Valley Bank (SVB) received a “bailout” out from the federal government following its collapse last week. Bair made the comments during an appearance on FOX Business Network’s “The Claman Countdown” on Mar. 13, shortly after the Federal Reserve, the Treasury Department, and the FDIC announced additional…
Shareholder Lawsuit Accuses Silicon Valley Bank Executives of Fraud
March 14, 2023
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Shareholders of the collapsed Silicon Valley Bank (SVB) have filed a class action lawsuit against the institution, its CEO Greg Becker, and CFO Daniel Beck, alleging violations of securities laws by concealing the bank’s vulnerability to a bank run. The shareholders claim in a complaint (pdf) filed Monday in federal court in San Jose, California…
LIVE 7 AM ET: NTD Good Morning (Mar. 14): Australia Buying Nuclear-Powered Attack Submarines From US; After Effects of Bank Failures
Australia will purchase nuclear-powered attack submarines from the United States. That’s amid growing concerns over China’s influence in the indo-Pacific region. Fallout and after effects from the recent Bank failures. And the Fed investigates the collapse of Silicon Valley Bank to find out why regulators didn’t see it coming. A controversial oil drilling project in…
NTD Good Morning (Mar. 14): Australia Buying Nuclear-Powered Attack Submarines From US; After Effects of Bank Failures
Australia will purchase nuclear-powered attack submarines from the United States. That’s amid growing concerns over China’s influence in the indo-Pacific region. Fallout and after effects from the recent Bank failures. And the Fed investigates the collapse of Silicon Valley Bank to find out why regulators didn’t see it coming. A controversial oil drilling project in…
NTD Good Morning (March 14): Australia Buying Nuclear-Powered Attack Submarines From US; After Effects of Bank Failures
Australia will purchase nuclear-powered attack submarines from the United States amid growing concerns over China’s influence in the Indo-Pacific region. After the recent bank failures, the Fed investigates the collapse of Silicon Valley Bank to find out why regulators didn’t see it coming. A controversial oil drilling project in Alaska is now approved. The Biden…
Australian Tech Firms Face Difficulties Following Silicon Valley Bank’s Demise
The sudden collapse of Silicon Valley Bank (SVB) in the United States has spelt trouble for a number of Australian technology companies. While no significant losses were reported as the U.S. Federal Reserve stepped in to stabilise the banking system, the collapse caused some disruptions in business activities as many firms were temporarily unable to…
Over $240 Million Assets Belonging to Chinese Drugmakers Exposed After Silicon Valley Bank Failure
All eyes are on America’s banking system after the collapse of Silicon Valley Bank (SVB), the biggest bank failure in the United States since 2008 with over $200 billion in assets on the line. But the companies hit aren’t just in America. Several Chinese startups are also embroiled in the fall. One sector alone has…
Banks Begin Failing as Biden Authorizes FDIC Takeover: How to Prepare | Facts Matter
On March 10, Silicon Valley Bank was closed by financial regulators, making it not only the first bank to fail since the 2008 financial crisis, but also, given the fact that they had over $175 billion worth of deposits, they are the second largest bank to fail in all of U.S. history. But then, it…
Silicon Valley Bank Crash Due to Monetary Policy: Economist
Who is to blame for the collapse of Silicon Valley Bank? Daniel Lacalle, chief economist at hedge fund Tressis argues that the Federal Reserve’s loose monetary policy is partly responsible. He believes that if the Fed had tackled inflation earlier and had not labeled inflation as transitory, the Silicon Valley Bank fall could have been…
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