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Lawmakers open to Biden’s call to claw back SVB executive pay - Roll Call

Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.

Roll Call · Mar 27, 2023

Stocks Set to Open Higher as SVB Deal Calms Banking Sector Fears

June S&P 500 futures (ESM23) are up +0.34%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning as market participants welcomed the news that First Citizens BancShares had agreed to acquire Silicon Valley Bank’s deposits and loans.

Barchart · Mar 27, 2023

Family run US bank rescues tech lender Silicon Valley Bank

FAILED tech lender Silicon Valley Bank was taken over today by First Citizens in a deal that will cost about $20 billion but offered hope that the crisis of confidence in the global banking system could be easing.

Evening Standard · Mar 27, 2023

First Citizens buys Silicon Valley Bank

NEW YORK: First Citizens BancShares Inc agreed to buy Silicon Valley Bank which was seized by regulators following a run on the lender.

The Times of India · Mar 27, 2023

FDIC: First Citizens Bank to acquire Silicon Valley Bank

The Federal Deposit Insurance Corp. says it has agreed on the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. The sale involves the sale of all deposits and loans of SVB to First-Citizens

The Independent UK · Mar 27, 2023

First Citizens agrees to buy Silicon Valley Bank

This is a step toward stabilizing America's regional banking sector, after a month of tumult.

Axios · Mar 27, 2023

How can we maximize woke's potential while minimizing the culture war's divisiveness?

The recent collapse of Silicon Valley Bank (SVB) and other major banks has raised fears about a potential 2008-style banking crisis. While this seems unlikely, like so many events these days, SVB’s failure has also been caught in the sticky rhetorical web of the culture war.

The Conversation · Mar 26, 2023

Silicon Valley Bank failure unites Democrats and Republicans in fundraising

WASHINGTON — The collapse of Silicon Valley Bank has united deeply divided lawmakers toward a singular goal: raising money off the news.

Tribune News Service · Mar 25, 2023

 Is this crisis (really) like 2008? - Roll Call

Amias Gerety, former Treasury Department official, discusses what’s new, and what’s different in the SVB and Credit Suisse banking turmoil

Roll Call · Mar 24, 2023

'We view this as an irrational market,' Citigroup analysts worry that major bank stocks like Deutsche Bank are cratering for psychological reasons

Citi really fears the "knock-on impact from various media headlines on depositors psychologically," regardless of whether the initial reasoning was correct.

Fortune · Mar 24, 2023