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On March 10, 2023 the California Department of Financial Protection and Innovation ("CDFPI") closed Silicon Valley Bank ("SVB"), a California chartered, non-member bank. The CDFPI. ....
(Bloomberg) US regulators will soon propose requiring banks with as little as $100 billion in assets to issue enough long-term debt to cover capital losses if they ever failed.Most Read from BloombergRussia Calls Emergency Key Rate Meeting as Ruble PlungesOutsider Milei Upends Argentina’s Election With Primary WinTech Giants, Yields Ticked Up in Choppy Session: Markets WrapChina Finance Giant’s Missed Payments Alarm Regulators, MarketsZuckerberg Says ‘Time to Move On’ From Musk Cage FightThe ....
(Bloomberg) The biggest US lenders expect to pay almost $8.9 billion to help replenish the US government’s bedrock Deposit Insurance Fund after it was tapped to backstop uninsured depositors at Silicon Valley Bank and Signature Bank. Most Read from BloombergTrump Cites Self Incrimination Concern in Lawsuit Against CohenS&P 500 Wipes Out Almost 1% Gain; Bond Yields Drop: Markets WrapElon Musk Says Treasury Bills Are ‘No-Brainer’Apple Faces Longest Sales Drop in Decades as iPhone SlumpsCredit S ....
The series of US bank collapses in the first half of 2023 has cast doubt on the sufficiency of the deposit insurance administered by the FDIC. The maximum amount insured under current legislation is $250,000, but many accounts involved in the recent spate of failures were above this, causing some to suggest the limit should be eliminated. ....
Cautious. the big problem in the american financial system is that we have socialized risk and socialized downside, but we have privatized reward. so, if these ceos know that they are going to benefit from what is effectively a bailout, whether the uninsured depositors, or even the shareholders and executives of the banks, they are going to take more risk and they are going to expose our financial system to more danger in the process. that is a bigger problem than just this piece of a lecture solution but this legislation does fix one tiny part of that issue. neil: you know, whatever happens to be small or medium-sized banks, and i get where you and elizabeth warner coming from, sir, but i do wonder about banking itself. after the meltdown, we were told, no bank could be too big to fail, now, they are getting bigger, those banks, and it is possible they will get bigger still at the expense of smaller or medium-sized banks. what do you think about? it s a huge problem, neil. ....