Svb

A takeover, a comeback and a resignation: The latest from three weeks of banking turbulence

It's been three weeks of banking turbulence. On Monday, North Carolina-based First Citizens Bank announced it had agreed to purchase Silicon Valley Bank while the chairman of Saudi National Bank, the main shareholder of troubled lender Credit Suisse, resigned

5 banks, 2 weeks: How the banking crisis unfolded

After three US regional lenders failed, UBS swooped in to buy out troubled Credit Suisse in order to avoid a larger crisis. The turmoil began on 8 March, with Silvergate Bank's announcement of liquidation, followed by the collapse of Silicon Valley Bank

TikTok-onomics: Thanks to a viral TikTok trend, Americans are going back to cash to curb spending

Thanks to a viral TikTok trend, more and more Americans are ditching their credit and debit cards, and switching over to cash, and stuffing them in envelopes earmarked for different expenses - rent, utilities, groceries, shopping etc. This practice is called cash stuffing

US government seeks to avoid 'bailout' label amid banking turmoil

Days after SVB's collapse this month, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced that its depositors -- along with those of Signature Bank -- would have access to their money

Explained: Was Signature Bank a victim of panic after the collapse of Silicon Valley Bank?

There were few outward signs that Signature Bank was crumbling before the New York Department of Financial Services on Sunday seized the bank's assets and asked the Federal Deposit Insurance Corp take over its operations

Explained: How the last banking crisis fuelled today's populist politics

Mike Pence and Bernie Sanders are hardly political allies. But their similar tone in the aftermath of two large bank failures reflects the populism that has swept through Republicans and Democrats in the 15 years since shaky financial institutions last sparked concern about the broader economy

Investment bank Credit Suisse's shares sink as top shareholder rules out more cash

Credit Suisse's market value had already suffered heavy falls this week over fears of contagion from the collapse of two US banks and its annual report citing "material weaknesses" in internal controls

Silicon Valley Bank Collapse: How US banking regulators missed the red flags

The Federal Reserve announced plans for a ‘thorough, transparent, and swift’ review of Silicon Valley Bank supervision, which will be made public on 1 May, effectively admitting that it could have done better

Credit Suisse bank's executive board won't receive a bonus for 2022

This comes after the company, in 2022 reported its biggest annual loss since the 2008 global financial crisis

Class action lawsuit filed against Silicon Valley Bank's parent company

The lawsuit from shareholders led by Chandra Vanipenta says some quarterly and annual financial reports from SVB didn't fully account for warnings from the Federal Reserve about interest rate hikes