Page 7 - Banking Regulators News Today

Hello and welcome to the progamme. switzerlands biggest bank ubs has agreed to take over its troubled rival credit suisse. the rescue deal follows a weekend of emergency talks between the two banks, after credit suisse saw its value plummet over the past week. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago of americas silicon valley bank. heres the swiss preside...

In singapore, this is bbc news. its newsday. hello and welcome to bbc news, broadcasting to viewers in the uk, on pbs in the us, and around the world. a weekend of emergency talks has concluded with switzerlands biggest bank, ubs, agreeing to take over its troubled rival, credit suisse. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty, triggered by the collapse, nine days ago, of americas silicon valley ...

Biden is asking Congress to give the Federal Depository Insurance Corp greater authority to claw back compensation.

Purposes and they all got in trouble at the same time and depositors needed money at the same time. we dont see that across the whole company. we have a tech start-up downturn and it caught these two banks up. going forward, theres less of a risk of seeing a lot of these. >> lets get your take on this exchange between secretary yellen and senator elizabeth warren. were all waiting to see what the fed does on the -- we expect the back end of this turmoil within the banks. but we heard from, give ...

Florida republican senator marco rubio today suggested giving the unmanned drones wingmen. >> i think our response should be to fly more of these in that area and to potentially have them escorted by u.s. fighter jets, who are manned and have the capability to respond. >> reporter: but white house officials that that would bring great risk to american pilots and the potential to escalate the crisis. some of the drone wreckage found along the surface of the black sea was recovered today by russia...

Tough requirements on banks like silicon valley oigbank and signature bank. unfortunately, the last administration rolled back some of the requirements. >> reporter: biden pointing to a 018 law that eased some of the strictest post financial crisis restrictions on learneds like silicon valley obank. >> ill ask to make it less likely that this could happen again. >> reporter: and framing a new crisis moment. >> treasury secretary yellen and the team of banking regulators have taken action. >> rep...

The banks failure risking a cascade of events that threaten financial stability with a second bank family youre sunday and several more institutions on the brink officials said. >> when we learned of the problems and a impact they could have on jobs, small businesses and banking systems overall, i instructed my team to act quickly to protect these interests. >> reporter: 93% of silicon valley banks set above the $250,000 insurance limit. >> ive been working all weekend with our banking regulator...

To pay the bills that they have, and they employ tens of thousands of people across the country. weve been hearing from those depositors and other concerned people this weekend. so let me say that ive been working all weekend with our banking regulators to design appropriate policies to address this situation. i cant really provide further details at this time, but what i do want to do is emphasise that the american banking system is really safe and well capitalised. its resilient. that was jane...

Like silicon valley bank with billions of dollars in deposits, fails, its clearly a concern from the standpoint of depositors, many of which may be small businesses. they rely on access to their funds to be able to pay the bills that they have, and they employ tens of thousands of people across the country. weve been hearing from those depositors and other concerned people this weekend. so let me say that ive been working all weekend with our banking regulators to design appropriate policies to ...

Shares in banks fell sharply around the world on friday, when svb was shut down by regulators, following the biggest banking collapse for fifteen years. heres what us treasury secretary janet yellen had to say. whenever a bank, especially one like silicon valley bank with billions of dollars in deposits, fails, its clearly a concern from the standpoint of depositors, many of which may be small businesses. they rely on access to their funds to be able to pay the bills that they have, and they emp...