Evercore ISI is comparing the bank stress to another critical time on Wall Street: The year of the savings and loan crisis and epic crash. “To think you would see financial stress of this kind d...
Tag: SVB Financial Group
Bank of America Has Biggest Losses in Bond Portfolio Among Peers
Bank of America is sitting on the largest losses among the country’s biggest banks in a key portion of its bond portfolio. Bank of America (ticker: BAC), like other banks, invests in Treasury securiti...
Regional banks are seeing flight of deposits to too-big-to-fail megabanks
The unexpected demise of Signature Bank over the weekend, on the heels of the failure of Silicon Valley Bank, ignited a shoot-first-and-ask-questions-later reaction among regional-bank investors as cu...
Regulators may still try to find a buyer for Silicon Valley Bank, source says
Customers wait in line outside of a Silicon Valley Bank branch in Wellesley, Massachusetts, US, on Monday, March 13, 2023. Sophie Park | Bloomberg | Getty Images Regulators could make a second attemp...
How ‘duration risk’ came back to bite SVB and led to rapid collapse
Following the fall of Silicon Valley Bank, a lot of terms are being thrown around on CNBC and elsewhere in discussions about what went wrong. One key term is “duration risk” along the yiel...
Mortgage rates tumble in the wake of bank failures
A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022. Jordan Vonderhaar | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage dropped to 6.57% Monday, accor...
Charles Schwab shares drop 8%, but rally off lows as firm defends financial position
Pedestrians pass in front of a Charles Schwab bank branch in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Charles Schwab shares cut steep losses on Monday as the financial ...
Stocks of multiple banks get halted for volatility, more than once, to start the trading day
To gauge the panic-like activity of bank investors in the wake of the recent failures of SVB Financial Group’s SIVB, Silicon Valley Bank and Signature Bank SBNY, -22.87%, investors can check out the N...
Western Alliance Bancorp stock set to suffer record selloff of over 60% to 10-year low in wake of SVB collapse
Shares of Western Alliance Bancorp WAL, -74.87% took a 62.4% plunge toward a 10-year low in premarket trading Monday, adding to last week’s tumble in the wake of the collapse of SVB Financial Group’s ...
Silicon Valley’s ‘greed and avarice’ to blame, trader says
Andrey Rudakov | Bloomberg | Getty Images The fallout from the shuttering of Silicon Valley Bank — the second-largest bank collapse in U.S. history — continued Monday, dragging down international bank...
Hercules Capital said it has ‘ample liquidity’ to support requirements, but stock keeps falling
Hercules Capital Inc. HTGC, -11.14% looked to reassure investors on Monday by saying it was working with bondholders, stakeholders and stockholders to “navigate challenges” created by the decision by ...
USDC nearly regains $1 peg after Circle says SVB deposit is available
In this photo illustration, a woman holds a smartphone with the USD Coin (USDC) logo displayed on the screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images USD Coin (USDC) came close to r...
First Republic Bank shares slump 60% in premarket trade
First Republic Bank FRC, -14.84% shares fell 60% after the weekend collapse of Signature Bank and Friday’s closure of SVB Financial, even as federal regulators stepped into guarantee those deposits an...
Bitcoin (BTC), crypto prices surge as SVB depositors protected
Jakub Porzycki | Nurphoto | Getty Images Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender’s U...
Bill Ackman says U.S. did right thing in protecting SVB depositors
A sign hangs at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Billionaire investor Bill Ackman said the U.S. government’s actio...
Did the Fed plant the seeds of destruction of Silicon Valley Bank?
Were the seeds of Silicon Valley Bank’s collapse planted by the Federal Reserve’s rapid rate increases? That is one of the debates ranging online over the weekend. Michael Green, chief strategist and ...
We’re looking for stocks to buy after regulators saved SVB depositors
Phew, that was close. Too close. There was so much fear engendered by the events of the last 72 hours since Silicon Valley Bank collapsed that we’ll have investors who want to sell no matter wha...
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Bank will rely on Wall Street and large financial institutions — n...
Treasury, Fed and FDIC joint statement on SVB and Signature Bank: full text
U.S. financial regulators on Sunday said Silicon Valley Bank SIVB, -60.41% depositors would have access to “all their money” starting Monday and that no losses associated with the bank’s resolution wo...
SVB collapse means more stock-market volatility: What investors need to know
It’s all eyes on federal banking regulators as investors sift through the aftermath of last week’s market-rattling collapse of Silicon Valley Bank. The name of the game — and the key to a near-term ma...
No Bailout for SVB. Here’s What to Expect.
The sudden collapse of Silicon Valley Bank last week segued into an anxious weekend for depositors, as start-ups and Wall Street fretted about the regulatory response to the largest bank failure since...
PNC decides not to bid on Silicon Valley Bank as regulators struggle to find rescue buyers, source says
A PNC Bank branch in New York, on Wednesday, Jan. 18, 2023. Bing Guan | Bloomberg | Getty Images PNC Financial Group has decided against bidding on Silicon Valley Bank as regulators struggled to find ...
You have an elegant fix for the Silicon Valley Bank crisis
“CNBC Special: America’s Banking Crisis” airs Sunday at 7 p.m. ET, where Jim and other experts will discuss the ramifications of Silicon Valley Bank’s demise on the economy and...
As Silicon Valley Bank concerns grow, Yellen says she has been ‘working all weekend with our banking regulators to design appropriate policies’ to address depositors
“‘I’ve been working all weekend with our banking regulators to design appropriate policies to address the situation.’” — Treasury Secretary Janet Yellen That is Treasury Secretary Janet Yellen, speaki...
Silicon Valley Bank employees received bonuses hours before takeover
Police officers leave Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Silicon Valley Bank employees received their annual bonuses Frida...
Hedge funds and banks offer to buy deposits trapped at Silicon Valley Bank
Hedge funds are offering to buy startup deposits at Silicon Valley Bank (SVB) for as little as 60 cents on the dollar, Semafor reported on Saturday, citing people familiar with the matter. Bids range ...
Silicon Valley Bank failure has investors calling for government aid
Big names in Silicon Valley and the finance sector are calling publicly for the federal government to push another bank to assume Silicon Valley Bank’s assets and obligations after the financial...
Silicon Valley Bank staff offered 45 days of work at 1.5 times salary by FDIC
Staff of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator that took control of the collapsed lender on Friday, Reut...
Silicon Valley Bank failed for one simple reason: its key startup clients lost faith.
Silicon Valley Bank SIVB, -60.41%, a 40-year-old bank at the heart of the valley’s ecosystem, was forced to shutter Friday after its core depositors — many of them startup companies — took out $42 bil...
Where Were the Regulators as SVB Crashed?
Silicon Valley Bank’s failure boils down to a simple misstep: It grew too fast using borrowed short-term money from depositors who could ask to be repaid at any time, and invested it in long-term asse...
KBW recommends buying these 11 financial stocks, including First Republic, following federal backstop for banks
On a Monday following high-profile bank failures on Friday and Sunday, it may seem to be a strange time to recommend buying stocks of banks and other financial services companies, but Keefe, Bruyette ...