Banking Crisis 2023

The Federal Deposit Insurance Corp. acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion.

Federal Reserve Board Gov. Phillip Jefferson joined three other board members in supporting a notice of proposed rulemaking, but expressed concerns about the economic impact of the changes.

The two Trump-appointed governors expressed skepticism that the increased capital requirements for regional banks were necessary to keep the banking sector resilient.

Following the difficulties of Silicon Valley Bank and Signature Bank this spring, banks are approaching the emergency lending facility more proactively, the Federal Reserve chair said.

Post-merger Banc of California will target "in-market relationship banking" by focusing on treasury management services and loan growth to boost "low-cost" commercial deposits, CEO Jared Wolff said.

Federal Deposit Insurance Corp. sales from the portfolios of failed Silicon Valley Bank and Signature could be complete by September, according to a report published Tuesday by FHN Financial.

Lenders must ensure that compliance and risk management teams are fully staffed and supported at the highest levels of the organization, writes the director of technology product management at Wolters Kluwer.

The FDIC's New York regional office faced staffing shortages throughout its supervision of now-failed Signature Bank. Experts say more competitive wages, culture shifts and whistleblower protections could help regulators attract and retain talent and improve oversight.

Federal Reserve Vice Chair for Supervision Michael Barr said he is overseeing a six-month project to overall supervisory culture, practices, behavior and tools. He said regulatory changes will also be explored.

In a speech, the Federal Reserve Board governor said tighter monetary policy is not to blame for the volatility seen in the banking system this spring.