By Hannah Lang (Reuters) -State regulators closed New York-based Signature Bank on Sunday, just two days after California authorities shuttered Silicon Valley Bank, in a collapse that roiled global markets and left billions of dollars of deposits belonging to companies and investors stranded. The U.S. Treasury Department and other bank regulators said in a joint…
By Hannah Lang (Reuters) -New York state’s Department of Financial Services said on Sunday it has taken possession of New York-based Signature Bank and appointed the U.S. Federal Deposit Insurance Corp as receiver, the second bank failure in a matter of days. Signature Bank had deposits totaling approximately $88.59 billion as of Dec. 31, the…
By Lewis Krauskopf (Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf. Monday could kick off a rocky week in financial markets. A banking blow-up in the U.S. is sparking fears of global contagion risks, and those fears could emerge in Asian trading as the week begins. Regulators were scrambling…
By Andrew MacAskill and Pablo Mayo Cerqueiro LONDON (Reuters) – A would-be buyer for the UK arm of failed U.S. lender Silicon Valley Bank (SVB) stepped forward on Sunday as British Prime Minister Rishi Sunak said his government was working to limit any fallout for companies from the bank’s demise. Bank of London said it…
By Dhara Ranasinghe LONDON (Reuters) – Markets were set for a bumpy ride this week as the fallout from collapsed startup-focused lender Silicon Valley Bank (SVB), the biggest U.S. bank failure since the 2008 financial crisis, coincides with key economic data and policy meetings. U.S. February inflation numbers are due out on Tuesday, followed by…
By Andrew MacAskill LONDON (Reuters) -Possible buyers of the UK arm of failed U.S. lender Silicon Valley Bank emerged on Sunday as Prime Minister Rishi Sunak said the British government was working to find a solution to limit the potential hit to companies resulting from the demise. SoftBank-owned lender OakNorth Bank is weighing a bid…
By Lananh Nguyen, Pete Schroeder and Sarah N. Lynch NEW YORK (Reuters) -U.S. authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank (SVB) and stem any broader financial fallout from its sudden collapse, sources familiar with the matter told Reuters. Biden administration officials worked through the weekend to assess…
By Lananh Nguyen, Pete Schroeder and Sarah N. Lynch NEW YORK (Reuters) -U.S. authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank and stem any broader fallout from its collapse, sources familiar with the matter told Reuters. Biden administration officials worked through the weekend to assess the impact of…
MUMBAI (Reuters) – India’s state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank’s collapse, as concerns rise about the fallout for the Indian start-up sector. California banking regulators shut down Silicon Valley Bankon Friday after the a run on the lender,…
(Corrects to show Yellen spoke to CBS’ Face the Nation, not CBS’ Sunday Morning) WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a major bailout was not being considered. “Let me…
