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Silicon Valley Bank and Signature Bank executives grilled during Senate hearing
US regulator’s proposal requires lenders with more than $50bn in assets to cover 95% of cost
And whether research and trading payments should be split, à la Mifid
Regulators hire financial powerhouse to help sell securities inherited from SVB and Signature
FDIC yet to decide how to sell securities acquired from collapses of SVB and Signature Bank
Lenders were left unprepared for mass withdrawals as they adjusted to rising interest rates
Todd Snyder ran auctions of Silicon Valley and Signature banks after failures
After the collapse of SVB, lenders are increasingly leery of digital assets
Tim Scott’s comments came during bruising congressional hearing on failings leading to lender’s collapse
Property-focused lender had a reputation for promoting entrepreneurial bankers and a blind spot for risk
Regulators effectively paid New York Community Bancorp to take troubled lender away
NYCB subsidiary Flagstar to buy ‘substantially all’ deposits and just over a third of assets, says FDIC
Refusal by FDIC to shoulder burden has been stumbling block in auction process
Broker makes exception to its short position ban for clients who had winning ‘puts’ against failed lender
Ex-congressman behind landmark banking law says he has no regrets about joining failed lender’s board
The two institutions failed days after issuing annual reports certified by the accounting firm
Hoo boy that’s some Content™️
The FDIC seems to think the banking system is more fragile than it really is
Collapse of Silicon Valley Bank prompted regulators to announce package to restore public confidence
First Republic leads sell-off despite Biden pledge to do ‘whatever is needed’ to prevent SVB contagion
Regulators have moved to bail out depositors of SVB and Signature Bank without the help of taxpayers
Fed announces new lending facility to provide extra funding to eligible institutions
No haircuts, no masters
US institution that courted digital assets plans to offload as much as $10bn tied to cryptocurrencies
The best-performing US bank of last year has seen its share price tumble
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