Page 6 - Us Banks

Citi names Indian origin Selva as COO to lead risk management overhaul

Veteran company executive previously handled roles in consumer banking, retail, cards

Bank failures: When it comes to regulation West can learn plenty from India

The West can learn from India the art of keeping a balance between the asset and liabilities sides. But it won't

First Republic Bank's rating downgraded to 'B' by Fitch amid cash crunch

The bank is currently operating at a loss and that is not sustainable over the longer term absent a balance sheet restructuring, they said

Steep correction

Market valuations are becoming reasonable

US lenders face scrutiny as Federal Reserve's rate decision looms

The Fed's relentless rate hikes to rein in inflation have been partly blamed for sparking the biggest meltdown in the banking sector since the 2008 financial crisis

Silicon Valley Bank Financial must wait to get back $2 billion from FDIC

The FDIC's decision to lock down the $2 billion creates jeopardy in the bankruptcy case, said Tom Lauria, a lawyer representing a large bondholder, Appaloosa LP

Silicon Valley Bank's loans to insiders tripled to $219 mn before it failed

The surge in loans to high-up figures may draw scrutiny as the Federal Reserve and Congress investigate the breakdown of Silicon Valley Bank, the biggest US bank collapse in more than a decade

Keep your money safe: Stick to systemically important banks for safety

Be wary of co-operative banks which have historically been most vulnerable

US officials study ways to guarantee all bank deposits if crisis expands

One legal framework under discussion for expanding FDIC insurance would use the Treasury Department's authority to take emergency action and lean on the Exchange Stabilization Fund, the people said

Banking crisis triggers oil price fall; temporary phenomenon, say analysts

Crude Oil prices declined by 10 per cent in the last 7 days - from $80.6 per barrel (Brent oil) on March 13

New York Community Bank to buy failed Signature Bank in a $2.7 bn deal

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday. The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries. The deal will include the purchase of $38.4 billion in Signature Bank's assets, a little more than a third of Signature's total when the bank failed a week ago. The FDIC said $60 billion in Signature Bank's loans will remain in receivership and are expected to be sold off in time. Signature Bank was the second bank to fail in this banking crisis, roughly 48 hours after the collapse of Silicon Valley Bank. Signature, based in New York, was a large commercial lender in the tristate area, but had in recent years gotten into cryptocurrencies as a potential growth business. After Silicon Valley Bank failed, depositors became nervous about Signature Bank's health due to its high amount o

FDIC considers Silicon Valley Bank break-up after failing to find a buyer

Bids are due Friday for the so-called "bridge bank" that the FDIC set up to take receivership of SVB's assets and liabilities

Credit Suisse meets to weigh options, under pressure to merge with UBS

Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess strategic scenarios for the bank

Washington turns to Wall Street to help rescue dying First Republic Bank

The scene was reminiscent of the last financial crisis, nearly 15 years ago: Faced with a blossoming emergency in the banking sector, worried regulators and policymakers in Washington turned to Wall Street for help. The anxiety this week centred on First Republic Bank in San Francisco, which was once the envy of the banking sector, with its wealthy and well-travelled clientele. Now the bank was reeling after some of those customers withdrew billions of dollars. As early as Tuesday, it became clear to policymakers that the First Republic needed to be rescued or it could fail, two people briefed on the matter told The Associated Press, speaking anonymously because they were not authorized to discuss details. The result was a swift agreement among the nation's leading banks to lay aside competitive instincts to come to First Republic's aid. With Washington greasing the wheels, a coalition of lenders put USD 30 billion in uninsured deposits into the California-based bank as a show of ..

Credit Suisse faces crunch weekend as lifeline offers limited reprieve

The 167-year-old Swiss bank is the biggest name ensnared by market turmoil unleashed by the collapse of US lenders Silicon Valley Bank and Signature Bank over the past week

President Joe Biden calls for tougher penalties for execs of failed banks

President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. Biden wants the Federal Deposit Insurance Corporation to be able to force the return of compensation paid to executives at a broader range of banks should they fail, and to lower the threshold for the regulator to impose fines and bar executives from working at another bank. He called on Congress to grant the FDIC those powers after the failures of Silicon Valley Bank and Signature Bank sent shockwaves through the global banking industry. Strengthening accountability is an important deterrent to prevent mismanagement in the future, Biden said in a statement. Congress must act to impose tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing. Currently the FDIC can only take back the compensation of ...

Bank turmoil poses a $600 billion question for battered investors

Bank investors have largely been selling first and leaving that question for later. Around $600 billion dollars of market value has evaporated from the 70 biggest US and European banks since March 6

Indian markets may underperform in 2023; buy the dips: CJ George

The direct investment in the cash segment by retail investors continues to be muted

TCS, Infosys have highest exposure to US regional banks: JPMorgan

Top Indian information technology firms Tata Consultancy Services and Infosys have the highest exposure to regional banks in the United States that are gripped by a financial turmoil

US banking turmoil hits the prices of ADRs for domestic banks, shows data

Analysts say domestic banks' dependence on local depositors insulates them from the crisis