Page 7 - Us Banks

Banking crisis: No Europe contagion after US bank rescues, says ECB

Credit Suisse saw over $450 million in net outflows from its US and European managed funds from March 13 to 15, Morningstar Direct said on Friday

Eleven US banks announce $30 billion rescue package for First Republic

Eleven of the biggest banks in the United States announced a USD 30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank from becoming the third bank to fail in less than a week. First Republic serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about USD 40 billion. It appears that First Republic, which had deposits totalling USD 176.4 billion as of December 31, was facing a similar crisis. In a statement, the group of banks confirmed that other unnamed banks had seen large amounts of withdrawals of uninsured deposits, which are those that exceed the USD 2,50,000 level insured by the Federal Deposit Insurance Corporation. First Republic's shares dropped more than 60 per cent Monday, even after the bank said it had secured additional funding from JPMorgan and the Federal Reserve. Thursday the bank's shares were down as much as 36 per cent but rallied after reports the rescue package

Banks borrow $164.8 billion from US Fed in rush to backstop liquidity

The data also showed $11.9 billion in borrowing from the Fed's new emergency backstop known as the Bank Term Funding Program, which was launched Sunday

Bank rescues ease crisis fears but investors worry it's not enough

The package came less than a day after Swiss bank Credit Suisse clinched an emergency central bank loan of up to $54 billion to shore up its liquidity

Silicon Valley Bank looking for a buyer after dragged-out FDIC sale failed

It's left a mess that government officials, banking agencies and potential bidders are still trying to work out as they also navigate a deal for Signature Bank and try to bolster First Republic Bank

Credit Suisse got a $54 bn lifeline, now it needs to win back clients

In Asia, several ultra-wealthy clients continued to cut back their exposure amid the tumult this week. In the Middle East, some customers asked the bank to convert cash deposits into treasury bills

US regulator eyes Friday bids for SVB and Signature Bank, says report

This will be the FDIC's second attempt at selling SVB after a failed effort on Sunday

Yellen says US banking system remains sound after 'decisive' actions

A week after the second-largest bank collapse in US history, Treasury Secretary Janet Yellen told the Senate Finance Committee on Thursday that the nation's banking system remains sound and Americans "can feel confident about their deposits. Yellen is the first Biden administration official to face lawmakers over the decision to protect uninsured money at two failed regional banks, a move that some Republicans have criticized as a bank bailout. The government took decisive and forceful actions to strengthen public confidence in the U.S. banking system, Yellen said in testimony before the committee. I can reassure the members of the Committee that our banking system remains sound, and that Americans can feel confident that their deposits will be there when they need them." In less than a week, Silicon Valley Bank, based in Santa Clara, California, failed after depositors rushed to withdraw money amid anxiety over the bank's health. Then, regulators convened over the weekend and ...

US Fed's loans to provide $2 trn of liquidity in banking system: JP Morgan

The Bank Term Funding Program should be able to inject enough reserves into the banking system to reduce reserve scarcity and reverse the tightening that has taken place over the past year

Silicon Valley Bank loans could be letdown for private equity giants

The FDIC has a broad mandate to try to sell Silicon Valley Bank and Signature Bank assets at the best possible price to aid recoveries, whether that's as a whole or in pieces

Crypto firms see no long term impact of fall of US banks, investors unsure

SVB crisis: After the SVB was shut down by US regulators on Friday, the crypto market plunged deep into the red, but they had largely recovered by Tuesday

BofA gets more than $15 bn in deposits after Silicon Valley Bank collapse

The inflows offer a first glimpse into deluge of deposits that made its way to the country's largest banks as customers fearful of a spreading crisis sought refuge in the firms seen as too big to fail

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No contagion seen on Indian bonds, forex from SVB collapse: DBS Bank

"The dollar index is not stretching as the typical risk-off scenario. Unless commercial activity drops across the world, which does not seem to be the case, we may not see any major impact"

'Help us rebuild' deposit base: Silicon Valley Bridge Bank's new CEO

Mayopoulos said on a Tuesday conference call with clients that the future of the bank "is still being charted," and that the company could be recapitalized, taken over by a new owner or wound down

SVB fallout: JPMorgan, other US biggies flooded with newer clients

As per the report, even US govt's emergency measures to stop the collapse of more banks have not stopped depositors from trying to move their accounts to larger banks or to shift to money market funds

SVB collapse: Moody's changes outlook on US banking system to 'negative'

Lenders that had "substantial" unrealized securities losses and uninsured deposits may be hurt more as customers look for safer alternatives to park their funds

Two US bank failures not to impact banks in India, APAC: Moody's

Moody's said the impact of the two US banks going down will be limited in India and other financial institutions in the APAC region due to structural factors

Employees dumbfounded by how SVB CEO publicly acknowledged financial crisis

"They were being very transparent. It's the exact opposite of what you'd normally see in a scandal. But their transparency and forthright-ness did them in," one employee said

SVB mess: Moody's puts First Republic, 5 other US banks on downgrade watch

The credit rating company cited concerns over the lenders' reliance on uninsured deposit funding and unrealized losses in their asset portfolios