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Silicon Valley Bank collapse

The family behind First Citizens Bank has seen its wealth double to $2.2 billion after buying SVB's assets out of bankruptcy

Fri, 05/12/2023 - 07:55

A woman walks in front of a First Citizens Bank branch in Raleigh, North Carolina. — A First Citizens Bank branch in Raleigh, North Carolina. First Citizens Bank has acquired assets from Silicon Valley Bank.
Melissa Sue Gerrits/Getty Images

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Mohamed El-Erian says the US is in the second stage of the banking turmoil – and lists 4 ways to avoid a 'significantly damaging' third phase.

Wed, 05/10/2023 - 10:57

FILE PHOTO - Mohamed El-Erian speaks during the — File photo of Mohamed El-Erian speaking at the 2009 Milken Institute Global Conference in Beverly Hills.
Thomson Reuters

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PacWest and First Horizon plummet 40% as banking-industry nerves spur speculation of further consolidation

Thu, 05/04/2023 - 09:58

NYSE Trader — Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 9, 2020.
Bryan R Smith/Reuters

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A credit crunch could more than double the rate that some US companies default on their debts, Societe Generale says

Wed, 05/03/2023 - 11:42

worried trader — REUTERS/Kai Pfaffenbach

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Jamie Dimon is vying to take control of First Republic Bank, report says, after JPMorgan steered clear of SVB

Sat, 04/29/2023 - 06:00

Jamie Dimon, JPMorgan — Jamie Dimon is CEO of JPMorgan.
Chip Somodevilla/Getty Images

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Mohamed El-Erian warns of recession, Fed-triggered financial accidents and commercial real-estate's 'moment of truth'. The top economist told us why, in an exclusive interview.

Fri, 04/21/2023 - 05:45

mohamed el-erian pimco — Mohamed El-Erian.
REUTERS/Fred Prouser

Markets, MI Exclusive, Mohamed El-Erian, Mohamed El-Erian inflation, Fed inflation Mohamed El-Erian, fed inflation, Commercial Real Estate

My small business banked at SVB and almost lost $300,000. I worry some banks will never take care of Black of women founders.

Sat, 03/25/2023 - 06:20

Mitch Gilbert, founder of Oya Femtech Apparel — Mitch Gilbert, the founder of Oya Femtech Apparel, banked with SVB.
courtesy of Oya

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I'm an associate at SVB. I love the culture of this company, but I'm livid at the failures of management.

Thu, 03/23/2023 - 05:04

People walk in the rain with an umbrella outside Silicon Valley Bank — "If this was a shitty place to work, maybe I wouldn't feel so strongly. But we had a good thing going," a Silicon Valley Bank employee told Insider.
Justin Sullivan/Getty Images

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Bank chaos has altered the fight against inflation — but the Fed says every tool is still on the table

Wed, 03/22/2023 - 16:42

Tech Insider : Economy, Politics

Federal Reserve Chair Jerome Powell — Federal Reserve Board Chairman Jerome Powell.
Alex Wong/Getty Images

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The Fed's latest move confirms it's trying to thread the needle between cooling inflation and helping banks in turmoil

Wed, 03/22/2023 - 14:01

Tech Insider : Economy, Politics

Federal Reserve Chair Jerome Powell Testifies Before The Senate Banking Committee — Federal Reserve Board Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on "The Semiannual Monetary Policy Report to the Congress," in the Hart Senate Office Building on Capitol Hill on Tuesday, March 7, 2023 in Washington, DC.
Kent Nishimura / Los Angeles Times via Getty Images

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