Big U.S. banks passed the Fed's stress test—but there's a 'looming risk' says former Fed official Although the test found the largest lenders could withstand a severe recession, risks can still arise. Fortune · Jun 30, 2023
Silicon Valley Bank Collapse Turned Into Musical Comedy By Composer Software engineer Mauricio Costa draws inspiration from Lin-Manuel Miranda for 'The Valley' musical Zenger · Jun 26, 2023
How the banking crisis catalyzed the government’s war on insider trading Rule 10b5-1 plans allow executives to sell their company’s stock without violating insider trading laws. The government is now treating them as red flags. Fortune · Jun 20, 2023
From Ely in Cardiff to being at the heart of regulating UK financial services Sheldon Mills was told by a teacher to forget about ever becoming a lawyer Birmingham Post · Jun 14, 2023
Falling funds and the rise of AI are top of the menu at London tech talks Artificial intelligence will be the main talking point at London Tech Week but investment and skills problems remain The Guardian - UK · Jun 10, 2023
EF Education to start brand new women’s team New squad raises questions over the future of existing EF Education-Tibco-SVB team Cycling Weekly · Jun 9, 2023
15 companies made this year’s Fortune 500 for the first time ever Airbnb, Skechers, and Silicon Valley Bank are among the new 2023 Fortune 500 companies. Fortune · Jun 5, 2023
TIBCO, Silicon Valley Bank to end sponsorship of EF Education-TIBCO-SVB Team owner Linda Jackson exploring options after loss of funding due to 'recent economic challenges and events' Cycling News · May 30, 2023
How Citizens Financial Group survived Citizens’ Financial Group’s CEO weighs in on how the regional bank is braving the banking crisis and beyond. Fortune · May 30, 2023
US banking failures: the role of big auditors in another financial crisis Three recent and very serious US bank failures – Silicon Valley Bank (SVB), Signature and First Republic – have one common denominator: all three businesses were audited by one of the world’s major professional services firms, KPMG. The Conversation · May 25, 2023
First Citizens Bank to cut hundreds of former Silicon Valley Bank jobs In a companywide email Wednesday morning, First Citizens Chairman and CEO Frank Holding Jr. said his Raleigh, North Carolina-based bank is laying off former employees of Silicon Valley Bank, the failed financial institution that First Citizens purchased two months ago. Tribune News Service · May 24, 2023
Watch live: Bank regulators testify before Senate after SVB and Signature failures Watch live as top regulators testify before the USSenate on Thursday, 18 May, on bank failures following the collapse of Silicon Valley Bank (SVB) and Signature Bank earlier this year. The Independent UK · May 18, 2023
'How am I going to make payroll on Monday?' Top execs share what they were thinking when SVB failed "I'm telling my LPs, technically, unless [hotlink ignore=true]BNY Mellon[/hotlink] goes down, we're fine," said Sarah Kunst, founder, and general partner at Cleo Capital. "Meanwhile, I'm like laying on my kitchen floor, thinking the world is over." Fortune · May 18, 2023
Watch live: House committee questions Silicon Valley Bank and Signature Bank on failings Watch live as the House Financial Services Committee questions Silicon Valley Bank (SVB) and Signature Bank executives on Wednesday, 17 May, on failings which led to the collapse of the banks earlier this year. The Independent UK · May 17, 2023
Fortune · May 16, 2023 In his first public appearance since SVB’s collapse, former CEO Greg Becker is asked to defend trip to Hawaii and whether he’ll forfeit $1.5 million bonus Greg Becker acknowledged that regulators had pointed out flaws in SVB's balance sheet, but said that he was in the process of working with regulators when the bank run occurred.
The Guardian - US · May 16, 2023 Silicon Valley Bank’s former CEO tells Senate he is ‘truly sorry’ for collapse Greg Becker tells banking committee that takeover of SVB was ‘personally and professionally devastating’
The Independent UK · May 16, 2023 Watch live: Senate questions Silicon Valley Bank and Signature Bank executives over failings Watch live as executives from Silicon Valley Bank and Signature Bank testify before the US Senate on Tuesday, 16 May.
Fortune · May 15, 2023 SVB and Signature Bank's failures had a lot in common with small rural banks from the 1930s Fed economists say This year's banking collapses have some striking parallels with the thousands of small bank failures that dotted the 1930s.
Axios · May 11, 2023 FDIC proposes big banks pay to recover losses in SVB and Signature failures There were concerns that small banks would wind up bearing some of these costs and this proposal heads those off.
Fortune · May 11, 2023 Mercury has attracted depositors after SVB fell. But can it keep them Mercury CEO Immad Akhund says business has never been better, but some wonder if the new money is “sticky.”
Businessweek · May 11, 2023 Too Small to Succeed Is the Problem Facing Regional Banks Recent turmoil centers on institutions—a notch or two down from the Wall Street giants—that are crucial funding sources for local businesses.
Roll Call · May 10, 2023 Bipartisan interest in new deposit insurance cap, but for whom? - Roll Call Lawmakers are talking about raising the deposit insurance cap, but don't have consensus about how to do it.
The Guardian - UK · May 4, 2023 Trading halted in shares of two more US lenders as fears of banking crisis mount Regulators step in after PacWest and Western Alliance shares plunge as investors fear repeat of First Republic, SVB and Signature failures
The Guardian - UK · May 2, 2023 Is the banking crisis coming to an end? As JP Morgan CEO notes, risks linger Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed
Fortune · May 2, 2023 Citibank CEO ‘very pleased’ First Republic’s demise eliminates the last big threat from banking's recent turmoil With the collapse of the second-largest commercial lender in U.S. history, Citi’s Jane Fraser believes the financial sector is now poised to draw a line under the crisis.