North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to …
US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis. Treasury Department staff are …
Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of the …
The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking – a bank run – which led to its failure on Friday. Its …
Banks should be more careful about the risks of fraud, legal uncertainty and misleading disclosures by crypto firms, U.S. regulators warned on Tuesday, just two months after the collapse of crypto exchange FTX stunned the financial world. In their first …
A U.S. banking regulator is urging banks dealing with cryptocurrency companies that they need to make sure customers know which of their funds will be insured by the government in case of collapse, and which have no safety net. The …
Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest because the FDIC waited too long —18 months after a final judgment — to try to collect it. The action …
The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold. …
For the past year, a special team of U.S. bank regulators has been on a quiet mission to end the belief on Wall Street that large banks are “too big to fail.” The team from the Federal Deposit Insurance Corp. …
The U.S. Senate voted on Tuesday to begin debating a bill that would keep a financial crisis-era deposit insurance program in place for two more years, but it will likely face strong opposition from the Republican-controlled House of Representatives. Separately, …
