Page 4 - Us Banks

Was unaware of bank's problems when stocks were sold, says ex-SVB CEO

Becker, who sold SVB shares through the first quarter - the largest sale of which occurred on Feb 27, less than two weeks before the bank collapsed on March 10

Fed, social media contributed to bank's collapse, says SVB's former CEO

Becker said comparisons by the media between SVB and Silvergate Capital Corp., which announced plans to wind down just days before his bank's seizure, contributed to SVB's failure

Anatomy of a bank failure

A radical change is necessary in the appointment of independent directors in India in light of the extensive failures in oversight and management of US banks

Banks report tougher credit standards in wake of failures: US Fed report

A Federal Reserve report on Monday showed that banks raised their lending standards for business and consumer loans in the aftermath of three large bank failures, a trend that could slow the economy in coming months. The report, known as the senior loan officers survey, asked banks if they have tightened their lending standards by taking steps such as demanding higher credit scores, charging higher interest rates, or other moves that altogether would make it harder for businesses and consumers to obtain loans. About 46 per cent of all banks said they had raised standards for business loans known as commercial and industrial loans, up from just under 45 per cent in the previous quarter. That increase was not as dramatic as in previous quarters, but banks were tightening credit before the bank failures. A year ago, slightly more banks were easing credit standards than increasing them. The survey respondents were 65 US banks and US branches of 19 foreign banks. The results were gather

Time to book profit now; buy when Nifty hits 16,000: BofA Securities

The foreign brokerage firm expects Nifty to drop to 16,000 levels as they foresee global slowdown, volatile commodities, peak urban demand/slow rural revival as some of the risks for earnings.

Twitter played a role in Silicon Valley Bank's collapse, shows research

"Shares of banks with a lot of Twitter activity in January and February incurred much larger declines in March"

Former SVB chief Greg Becker set to testify to Senate on bank collapses

Scott Shay and Eric Howell, the former chair and president of Signature Bank, which also failed in March, are to appear on May 16

IMF Chief Kristalina says rising rates exposed banking vulnerabilities

Georgieva's comments Monday come as US regulators continue efforts to shore up the banking sector, which has been rattled by the Federal Reserve's aggressive interest-rate hikes

JPMorgan to acquire First Republic Bank after seizure by regulator

First Republic Bank is the third major US bank to fail in two months after Silicon Valley Bank and Signature Bank

First Republic in limbo as US Federal Reserve juggle bank's fate

Regulators searched for a solution to First Republic Bank's woes over the weekend, hoping to find a way forward before US stock markets opened on Monday. San Francisco-based First Republic has struggled since the collapse of Silicon Valley Bank and Signature Bank in early March, as investors and depositors grew increasingly worried the bank may not survive as an independent entity. The bank's stock closed at USD 3.51 on Friday, a fraction of the roughly USD 170 a share it traded for a year ago. It fell further in afterhours trading. World markets have periodically been shaken by worries over turmoil in the banking industry since Silicon Valley Bank's collapse. On Monday markets in many parts of the world were closed for May 1 holidays. The two markets in Asia that were open, in Tokyo and Sydney, rose on Monday while US futures were little changed, with the contract for the S and P 500 up nearly 0.1 per cent. First Republic has been seen as the bank most likely to collapse next due

FDIC needs 'lowest-cost' First Republic alternative, says Ro Khanna

The FDIC has asked banks including JPMorgan Chase & Co., PNC Financial Services Group Inc., US Bancorp and Bank of America Corp. for bids, according to people with knowledge of the discussions

US regulators racing to find a rescuer to buy First Republic Bank

US regulators are racing to find a rescuer to buy First Republic Bank in a deal that could be announced as soon as Sunday, media reports said

US Fed says it failed to take forceful action on Silicon Valley Bank

US regulators are reported to be working on a potential rescue for the struggling firm, which was the 14th largest bank in the US at the end of last year

FDIC asks JPMorgan, PNC to submit final bids for First Republic by Sunday

The bidding process kick-started by regulators - after weeks of fruitless talks among banks and their advisers - could pave the way for a tidier sale of First Republic

First Republic stuck between US, banks as both sides try to avoid losses

As the bank's stock keeps lurching lower - dropping 49% on Tuesday and 30% on Wednesday - regulators have so far refrained from stepping in

Poor biz models may have triggered crisis in US banks: RBI Governor Das

Governor Shaktikanta Das on Thursday said the Reserve Bank is having a closer look at domestic lenders' business models as it feels that poor strategies can trigger a crisis. The Governor of the Indian central bank also said that the recent developments in the US, which has seen the implosion of lenders like Silicon Valley Bank and a rush to limit the contagion of stress across the system, may be because of poor business models. He added that Indian banks have been able to stay resilient and have not been impacted adversely by the "recent sparks of financial instability seen in some advanced economies" courtesy the work done in this aspect by RBI and the banks themselves. "The recent developments in the US raise a question whether the business model of individual banks that have faced challenges whether the business models were right," Das said. "The RBI has started looking at the business models of banks more closely deficiencies (in it) can spark a crisis," Das said, speaking at

First Republic Bank plunges on report of potential buyers for new shares

These banks have an incentive to deal as the political fallout of the FDIC making them whole on their $30 billion of deposits could be serious

First Republic Bank plans $100 bn asset sale to shore up balance sheet

In addition to selling assets, the bank also plans to focus on loans that can be sold on the secondary market

US bank deposits fall $76.2 bn, led by large institutions: Fed data

Meantime, commercial bank lending rose $13.8 billion last week on a seasonally adjusted basis

BlackRock's assets seen topping $15 tn in 5 years' time: Morgan Stanley

The gains are likely to continue, according to Morgan Stanley analyst, raising BlackRock's price target to $861 from $829, the second-highest among analysts tracked by Bloomberg