Browsing: bank closures

Newsbytes Nichols: Americans can be assured banking sector is strong

The important thing for Americans to know following the failures of Silicon Valley Bank and Signature Bank is that the overall banking sector is resilient, well-capitalized and has solid liquidity, ABA President and CEO Rob Nichols said during a wide-ranging interview for C-SPAN’s news program Washington Journal.

Newsbytes Senators question regulators’ role in SVB collapse

During a Senate Banking Committee hearing this week, regulators agreed that rules governing financial institutions should be strengthened to better protect the overall financial system. Several lawmakers questioned, however, whether those same regulators failed to use their existing tools to rein in Silicon Valley Bank.

Newsbytes Barr: Fed to pursue debt requirements for large banks

The Federal Reserve will propose a long-term debt rule for large banks that are not globally systemic important banks, which will require the institutions to maintain a cushion of loss-absorbing resources to support stabilization and allow for resolution in a manner that does not pose a systemic risk to the overall financial system, Federal Reserve Vice Chairman for Supervision Michael Barr said this week.

Newsbytes First Citizens Bank acquires SVB deposits, loans

The FDIC announced late Sunday that First Citizens Bank & Trust of Raleigh, North Carolina, has agreed to purchase and assume all deposits and loans of Silicon Valley Bridge Bank, which was established after the closure of the California-based SVB.