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Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures
29.4.2023
On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC)...
First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles
29.4.2023
According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding...
New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’
7.4.2023
Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured...