Rebutting erroneous claims about the FHLBs and the failure of Silicon Valley Bank.
Browsing: Bank failures
The Federal Reserve is reviewing its capital and liquidity standards for all large banks following the closures of Silicon Valley Bank and Signature Bank, including those with more than $100 billion in assets, Fed Vice Chairman Michael Barr said this week.
Top Republicans on the House Financial Services Committee this week called on federal regulators to explain the decision to invoke an emergency systemic risk exception in the failures of the Silicon Valley Bank and Signature Bank.
Flagstar Bank, N.A., a subsidiary of Long Island-based New York Community Bancorp, has agreed to assume substantially all the deposits and purchase certain loan portfolios of Signature Bridge Bank, N.A., the FDIC said today.
As regulators conduct their reviews, Brown said they should look for “broader vulnerabilities” in the banking system and take steps to mitigate them.
Commenting on the current state of large bank resolution planning at an industry event today, FDIC Chairman Jelena McWilliams today said that the FDIC is considering several policy changes to “strengthen and streamline” the large bank resolution planning process.
The FDIC board today approved a final rule requiring banks with more than 2 million deposit accounts to upgrade their deposit recordkeeping systems to facilitate the determination of FDIC insured deposits in the event of a bank failure.
In an effort to enhance its ability to grant new limited purpose charters, the OCC is issuing a proposed rule that would address how the agency will handle receiverships for national banks not insured by the FDIC, such as trust banks and other special purpose charters.
In a joint letter with three other financial trade associations today, ABA responded to an FDIC proposal that would require banks with more than 2 million deposit accounts to collect extensive depositor information and develop systems that would allow the FDIC to close the bank and use the bank’s system to make deposit insurance determinations.