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Tag: Silicon Valley Bank

JPMorgan acquires First Republic Bank for $10.6 billion

JPMorgan acquires First Republic Bank for $10.6 billion JPMorgan acquires First Republic Bank for $10.6 billion

The financial crisis in USA, which began with the bankruptcy of Silicon Valley Bank (SVB), has brought a new victim, as reported by the newspaper El País (Spain). In the early hours of this Monday, May 1, the Federal Deposit Insurance Corporation (FDIC) announced the intervention of First Republic Bank and a sale agreement to […]

US banking regulator opens investigations into alleged malpractice at Signature and SVB

US banking regulator opens investigations into alleged malpractice at Signature and SVB US banking regulator opens investigations into alleged malpractice at Signature and SVB

The US banking regulator is investigating possible misconduct by executives and others involved in the failures of Silicon Valley Bank and Signature Bank. Federal Deposit Insurance Corporation President Martin Gruenberg said in testimony to Congress that the agency opened investigations into “directors, officers, professional service providers and other parties of banks affiliated with institutions for […]

US backs sale of Silicon Valley Bank to First Citizens

US backs sale of Silicon Valley Bank to First Citizens US backs sale of Silicon Valley Bank to First Citizens

US regulators said Monday they would back a deal for regional lender First Citizens BancShares to acquire the failed Silicon Valley Bank, which will trigger an estimated $20 billion charge to a government insurance fund. The deal comes to light after the Federal Deposit Insurance Corporation (FDIC) took over Silicon Valley Bank on March 10 […]

US financial crisis continues to generate uncertainty

US financial crisis continues to generate uncertainty US financial crisis continues to generate uncertainty

The financial crisis unleashed after the closure of Silicon Valley Bank (SVB) continues to cause fear in some markets internationally. In Europeas an emergency measure to ensure financial stability, the UBS Group AG (UBS), one of the most important Swiss banks, had to acquire its rival, the Credit Suisse, for more than US$3,000 million. This […]

Swiss Parliament convenes extraordinary session to discuss banking crisis

Swiss Parliament convenes extraordinary session to discuss banking crisis Swiss Parliament convenes extraordinary session to discuss banking crisis

The Parlament Swiss announced the holding of an extraordinary session, between April 11 and 14, to analyze the recent purchase of Credit Suisse by UBS, an operation motivated by the crisis of the former and which has been criticized by some sectors of Swiss politics. The session was approved after being demanded by more than […]

Yellen pledges to protect bank deposits, but more might be needed

Yellen pledges to protect bank deposits, but more might be needed Yellen pledges to protect bank deposits, but more might be needed

The banking system of USA It is stabilizing after strong action by regulators, but further action may be necessary if smaller banks experience deposit runs that threaten further contagion, Treasury secretary is scheduled to tell bankers on Tuesday. Janet Yellen. In excerpts from remarks prepared for a conference before the American Bankers Association, Yellen said […]

UBS buys Credit Suisse for $2 billion to avoid banking crisis

UBS buys Credit Suisse for $2 billion to avoid banking crisis UBS buys Credit Suisse for $2 billion to avoid banking crisis

The banking crisis that began with the bankruptcy of the Silicon Valley Bank in the US continues, and this time it reached the Credit Suissethe second largest bank in Swiss and one of the top 30 financial institutions in the world. The last weekend, UBS, Switzerland’s top lender, has agreed to buy out its rival […]

US banks ask authorities to protect all deposits

US banks ask authorities to protect all deposits US banks ask authorities to protect all deposits

A group of medium-sized banks of USA asked the federal regulatory authority to guarantee all its clients’ deposits for two years, even above the usual limit of $250,000, to avoid a contagion phenomenon after the bankruptcy of the bank BLSreported the Bloomberg agency. This measure “It would immediately stop the exodus of customers from smaller […]

Credit Suisse faces a crucial weekend with its future up in the air

Credit Suisse faces a crucial weekend with its future up in the air Credit Suisse faces a crucial weekend with its future up in the air

Credit Suisse Group AG is headed for a decisive weekend after some rivals were cautious in their dealings with the troubled Swiss entity and its regulators urged it to seek a deal with UBS AG. Credit Suisse’s chief financial officer, Dixit Joshiand their teams will hold meetings over the weekend to assess strategic scenarios for […]