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CATEGORY: uninsured deposits


Apr 29, 2023 10:30

First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles

According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding purchasing First Republic after the bank’s stocks dropped more than 50% on Friday. FDIC [...]

The post First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles appeared first on Crypto Breaking News.

Mar 12, 2023 06:55

Ackman Urges US Government to Guarantee SVB Deposits


Billionaire hedge fund manager Bill Ackman has warned the US government that failing to guarantee all deposits held by Silicon Valley Bank (SVB) within 48 hours could result in the destruction of several financial institutions. Ackman argued that a "giant sucking sound" would be heard from the withdrawal of substantially all uninsured deposits from all banks, which would lead to a drain on liquidity from community, regional, and other banks. (Read More)

Mar 10, 2023 10:30

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank. Federally Insured Depositors to Withdraw Funds on Monday, Uncertainty Looms for [...]

The post US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual appeared first on Crypto Breaking News.

Mar 19, 2023 06:55

Mid-Size Banks Ask for Deposit Insurance Extension


The Mid-Size Bank Coalition of America (MBCA) has requested that the US Federal Deposit Insurance Corporation (FDIC) extend insurance on all deposits for the next two years, which would immediately halt the outflow of deposits from smaller banks and stabilize the banking industry, according to a Bloomberg report. The MBCA proposed that the banks themselves fund the insurance program by raising the deposit-insurance assessment on lenders who opt to participate in the increased coverage, and the failure to provide this could result in up to 300 banks going under. (Read More)

Mar 20, 2023 10:30

First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower

After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares [...]

The post First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower appeared first on Crypto Breaking News.

Mar 19, 2023 10:30

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends [...]

The post Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket appeared first on Crypto Breaking News.

Jul 15, 2023 10:30

JPMorgan CEO Jamie Dimon Calls 2023’s Banking Fiasco a ‘Mini Crisis’, Foresees Consumer Savings Depleted by Year’s End

Four days ago, JPMorgan Chase CEO Jamie Dimon was interviewed by The Economist and he discussed the recent U.S. banking disaster that occurred last March. At that time, the public witnessed the second, third, and fourth largest bank failures in U.S. history. Dimon asserted that “for the most part,” the financial crisis of 2023 is [...]

The post JPMorgan CEO Jamie Dimon Calls 2023’s Banking Fiasco a ‘Mini Crisis’, Foresees Consumer Savings Depleted by Year’s End appeared first on Crypto Breaking News.

Apr 07, 2023 05:50

New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’

Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured deposits” and insufficient liquidity were some of the reasons why it was closed. Signature Bank’s Liquidity [...]

The post New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’ appeared first on Crypto Breaking News.

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