[ad_1] Last Updated: May 13, 2023, 02:19 IST The broad-based S&P 500 shed 0.2 percent to 4,124.08, while the tech-rich Nasdaq Composite Index declined 0.4 percent to 12,284.74. The White House said Thursday that negotiations between President Joe Biden and Republican congressional leaders would be postponed until early next week Wall Street stocks retreated Friday … Read more
[ad_1] Last Updated: April 25, 2023, 03:32 IST First Republic reported first-quarter results Monday that showed it had $173.5 billion in deposits in early March before Silicon Valley Bank failed on March 9. (Image: Reuters) Even through this crisis, the bank’s book of loans more than 90 days past due was zero Customers of First … Read more
[ad_1] Last Updated: April 21, 2023, 04:38 IST The tech-heavy Nasdaq Composite Index plunged 0.8 percent to 12,059.56. (Representative image) The Dow Jones Industrial Average closed 0.3 percent lower at 33,786.62, while the broad-based S&P 500 dropped 0.6 percent to 4,129.79 Wall Street stocks ended lower on Thursday following lackluster corporate results from electric vehicle … Read more
[ad_1] CNN — When customers at Silicon Valley Bank rushed to withdraw billions of dollars last month, venture capitalist Arlan Hamilton stepped in to help some of the founders of color who panicked about losing access to payroll funds. As a Black woman with nearly 10 years of business experience, Hamilton knew the options for … Read more
[ad_1] Hong Kong CNN — HSBC’s top brass defended their strategy Monday to frustrated shareholders in the lender’s largest market, as Europe’s biggest bank continued to face calls to be split up. At an informal shareholder meeting in Hong Kong, Chairman Mark Tucker and CEO Noel Quinn took questions from investors on issues ranging from … Read more
[ad_1] Silicon Valley Bank was the 16th biggest lender in the US and was the go-to bank for several startups across the world. (Photo: Reuters) The portfolios are comprised of low-yielding assets, such as Treasuries and U.S. government agency-backed securities, that the two regional banks amassed while interest rates were close to zero The Federal … Read more
[ad_1] The Federal Deposit Insurance Corporation (FDIC) estimates the cost to the Deposit Insurance Fund to cover the collapse of Silicon Valley Bank is $20 billion — including $18 billion to cover uninsured deposits, according to the chairman of the FDIC, Martin Gruenberg. And the failure of Signature Bank is likely to require about $2.5 billion, including … Read more
[ad_1] New Delhi: The Federal Deposit Insurance Corporation (FDIC) has entered into a purchase and assumption agreement for all deposits and loans of recently failed US-based Silicon Valley Bridge Bank by First-Citizens Bank and Trust Company, Raleigh, North Carolina. The FDIC created Silicon Valley Bridge Bank, National Association, following the closure of Silicon Valley Bank … Read more
[ad_1] Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman urged the banks to remain vigilant about the interest rate risks and regularly undertake stress tests. Finance Minister Nirmala Sitharaman on Saturday reviewed the performance of public sector banks (PSBs) on various financial health parameters and their resilience in the wake of the current global … Read more
[ad_1] NEW DELHI: The PSU bank chiefs informed finance minister Nirmala Sitharaman that they are vigilant of the developments in the global banking sector and are taking all possible steps to safeguard themselves from any potential financial shock. All major financial parameters indicate stable and resilient PSBs with robust financial health, the top officials told … Read more