-
The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.
April 24 -
The Phoenix bank provided behind-the-scenes details of the fallout from March's banking crisis, when it lost $8 billion of deposits in a single day. The company's share price closed up 24% on Wednesday after executives vowed to reassess its capital and liquidity strategy.
April 19 -
The Federal Deposit Insurance Corp. said it will propose a special assessment to cover losses from Silicon Valley Bank and Signature Bank in May, and noted that bank deposit outflows are largely uninsured.
April 18 -
IntraFi, R&T Deposit Solutions and other companies help banks capture and insure the entirety of their customers' balances — a cogent need in the aftermath of SVB.
April 11 -
The Los Angeles company says it secured $1.4 billion of cash from a financing facility from Atlas SP Partners after clients drew down an additional 20% of the bank's deposits. Deposit levels have "stabilized," PacWest says.
March 22 -
In prepared remarks to the American Bankers Association, Treasury Secretary Janet Yellen says the government's intervention to cover uninsured deposits at Silicon Valley and Signature banks "reduced the risk of further bank failures."
March 21 -
After a bank run led to Signature Bank's failure, New York Community Bancorp bought much of what was left from the FDIC. The acquirer now faces questions about how it will persuade the remaining depositors to stick around.
March 20 -
Since the sudden collapse of Silicon Valley Bank on March 10, unstable deposit funding has roiled the banking industry. Ideas on how to reestablish confidence include providing a temporary guarantee for all deposits, raising the deposit insurance limit and reviving an expired program that helped quell market panic in 2008.
March 20 -
The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.
March 20 -
Shadows loomed over Credit Suisse and First Republic early Thursday, but the sector outlook brightened after billions of deposits were pledged to the U.S. bank.
March 16