Page 8 - Banking System

Biden says US banking system is safe after Silicon Valley Bank collapse

President Joe Biden on Monday told US residents that the nation's financial systems are sound, following the swift and stunning collapse of two banks that prompted fears of a broader upheaval. American can have confidence that the banking system is safe, he said from the Roosevelt Room before a trip to the West Coast. Your deposits will be there when you need them. US regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once. It is the second largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual. In a sign of how fast the financial bleeding was occurring, regulators announced that New York-based Signature Bank had also failed. The president, speaking from the Roosevelt Room shortly before U.S. markets opened, said he'd seek to hold those responsible and pressed for better oversight and regulation of larger banks. And he promised no losses would be bor

The accidents have started

The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places

SVB collapse: Large domestic deposits cushion Indian banks, say analysts

Mark-to-market impact on Indian banks seen limited thanks to HTM provisioning

Liquidity likely to veer towards neutral after three years of surplus

Future scenario hinges on forex market, govt spending, credit growth

RBI resumes repo ops after 5 months as LTRO maturities lined up

LTROs/TLTROs worth Rs 75,000 cr to mature by April-end

Indian financial markets remain well-regulated: FM Nirmala Sitharaman

FM says banking system at comfortable level as bad loans hit new lows

ICICI-Videocon case: Bombay HC grants CBI 3 days to reply on Dhoot's plea

The Bombay High Court on Tuesday granted the Central Bureau of Investigation 3 days time till Friday to file its reply in a plea filed by Videocon Group Chairman Venugopal N. Dhoot

Brokerages pick banks, infra and telecom for 2023 play; IT, metals may drag

The banking sector was a standout performer in 2022 with the Nifty PSU Bank rallying almost 70 per cent

Post-LVB integration, DBS aiming to treble growth in 5 years: MD & CEO

Surojit Shome, MD and CEO of DBS Bank India, said having crossed the Rs one trillion business (deposit and loans) mark in September, the bank is looking to grow 3x in five years

Urban Co-op Bank profiles improve on bad loan dip, better profitability

However, growth in deposits and advances took a knock as liabilities shrank on the back of high base in 2020-21, shows RBI Report on Trend and Progress of Banking in India

Banks' balance sheet grows in double digits after 7 years: RBI report

Gross NPA slips to 5%; regulator flags slippages from recast accounts

How to lock smartly into bank FDs as rates peak over next 2-3 quarters

Consider laddering to ensure liquidity and to avoid reinvestment risk

All entities providing banking service subject to same rules: RBI Dy Guv

Non-bank entities cannot be allowed to undermine the banking system, he says at Business Standard BFSI Insight Summit

RBI sold $922 million in foreign exchange market in October: Bulletin

Forward purchase book shrinks $10 bln as RBI spreads out interventions

Banks renew AT-1 sales after two-month gap, PSUs lead pack to raise credit

Public sector lenders would end up issuing around Rs 13,500 cr worth of such bonds in coming weeks

Bank of Canada hikes policy interest rate by 50 basis points to 4.25%

The Bank of Canada has increased its benchmark interest rate by 50 basis points to 4.25 per cent

ICICI Bank adopting a 360-degree approach in corporate banking business

Analysts see risk of attrition due to the shift in culture its implementation

Core activities of a bank should not be outsourced, says RBI's AK Choudhary

"While outsourcing it is very important that adequate safeguards are established to seal the situation as well as the financial stability of the banking system," Choudhary added

Credit Suisse shares set to end losing streak on halted outflows

Credit Suisse rose as much as 6.9% in Zurich trading, putting the stock on course to end a record 13-day losing streak, as the comments calmed investors

RBI authorises Tamilnad Mercantile Bank to undertake government business

Private sector lender Tamilnad Mercantile Bank (TMB) on Wednesday said it has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator. An agreement in this connection was signed by the bank with RBI in Mumbai for appointing TMB as an 'agency bank' of RBI to undertake government agency business. "On getting listed in the stock exchanges, Tamilnad Mercantile Bank Ltd is back to enrich our vision in expanding the network pan India with added features in the products and services," the bank's managing director and CEO S Krishnan said in a press release. "It gives me immense pleasure in sharing this appointment by RBI to all our stakeholders," he added. TMB is one of the oldest private sector banks with a history of over 100 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of services primarily to micro, small and medium enterprises, agricultural and retail customers. The bank had reported 37.1 p