by Ken Chase | Apr 3, 2023 | Banks, News
President Joe Biden is now urging federal banking regulators to impose tougher regulatory requirements for the nation’s banks, suggesting that increased oversight is necessary to prevent banks like Silicon Valley Bank from collapsing in the future. The President’s...
by Ken Chase | Mar 28, 2023 | Banks, News
Estimated reading time: 2 minutes North Carolina-based regional bank First Citizens has agreed to purchase Silicon Valley Bank, according to a March 26 statement from the Federal Deposit Insurance Corporation (FDIC). The FDCI confirmed that it had agreed to the deal,...
by Ken Chase | Mar 24, 2023 | Financial, News
Estimated reading time: 2 minutes Federal Reserve Chair Jerome Powell announced yet another interest rate hike during a press conference on Wednesday. That announcement has been largely credited for a drop in the Dow Jones, as stocks plunged by more than 500 points....
by Ken Chase | Mar 24, 2023 | Banks, News
Estimated reading time: 2 minutes Regional bank Pac West Bancorp has secured a $1.4 billion line of credit from an Atlas SP Partners finance facility as part of its effort to boost liquidity, after customers withdrew roughly 20% of their deposits in the first few...
by Ken Chase | Mar 20, 2023 | Banks, News
Estimated reading time: 2 minutes UBS reached an agreement to purchase embattled Credit Suisse on Sunday for a reported $3.2 billion. The agreement came after weekend negotiations orchestrated by the Swiss National Bank and Swiss regulators, which pushed for the...
