Gruenberg: Deposit fund assessment proposal coming in May
The FDIC estimates that the cost of resolving Silicon Valley Bank will likely be $20 billion, which will be recovered ...
Tag: Bank closures
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 ...
Sen. Brown: Nonbanks should play by same rules as banks
One area where many lawmakers and bankers can come together is in the belief that everyone should be playing by ...
Rep. McHenry warns against seeking quick fixes for bank failures
In the matter of the Silicon Valley Bank and Signature Bank failures, lawmakers must first gather the facts and determine ...
Rep. Waters: ‘Deep dive’ needed to explore causes of banks’ collapse
There were “missed opportunities" to see what was happening with SVB’s balance sheet and to correct things before collapse, Waters ...
Yellen: Uninsured depositors at small banks protected if contagion risk exists
Federal regulators would provide similar protections for uninsured depositors at smaller banks as they did for Silicon Valley Bank and ...
Sen. Daines defends reg reform law in remarks to ABA Summit
Speaking virtually to the ABA Washington Summit today, Sen. Steve Daines (R-Mont.) defended S. 2155, the bipartisan regulatory reform law.
Nichols: Deposit insurance changes must not create competitive disadvantages
In a keynote address to bankers this morning at the 2023 ABA Washington Summit, ABA President and CEO Rob Nichols ...
GOP lawmakers seek information from Fed on bank failure timeline
House Financial Services Committee Chairman Patrick McHenry (R-N.C.) and Senate Banking Committee Ranking Member Tim Scott (R-S.C.) called on the ...
Biden, Waters call for stronger repercussions for execs of failed banks
Following the failures of Silicon Valley Bank and Signature Bank earlier this month, the Biden administration called on Congress to ...
