(Reuters) – Deposits at commercial U.S. banks dipped in the week ended April 19, signaling no fresh worries about bank safety of the kind that drove sharp outflows in the week immediately following the collapse of Silicon Valley Bank, data released on Friday by the Federal Reserve showed. Deposits at large U.S. banks fell to…
By John Kruzel WASHINGTON (Reuters) – U.S. Supreme Court Justice Samuel Alito believes the leak last May of a draft opinion that ended the nationwide right to abortion was meant to “intimidate” the court into changing its decision, the conservative justice told the Wall Street Journal. “It was a part of an effort to prevent…
(Reuters) – At the time of Silicon Valley Bank’s collapse, the number of outstanding safety and soundness warnings from Federal Reserve bank supervisors had mushroomed to three times the average for a bank its size, according to a report released on Friday. Below is a timeline of those 31 “matters requiring attention” or “matters requiring…
NEW YORK (Reuters) – The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic under receivership imminently, a person familiar with the matter said on Friday. The U.S. banking regulator has decided that the troubled regional lender’s position has deteriorated and there is no more time to pursue a rescue through the…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks rallied to a higher close on Friday and benchmark Treasury yields dipped at the end of a week marked by strong earnings, wrapping up a solid month with data confirming inflation is cooling, which could allow the Federal Reserve to pause after next week’s expected rate…
(Reuters) – Lyft Inc said on Friday it has asked employees to return to office, the latest move by new CEO David Risher after the ride-hailing firm decided to cut 26% of its workforce. “Today, (the CEO) shared with Lyft team members the first steps in a plan for a flexible model with more regular…
By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) – Bearish options traders are ramping up bets on further declines in the beaten-down shares of First Republic Bank, though strategists say they could run into trouble cashing in their wagers if the bank goes into receivership. First Republic’s shares fell as much as 42%…
WASHINGTON (Reuters) – The Federal Reserve Board’s independent review of Silicon Valley Bank’s collapse reinforces the need for “the commonsense regulatory and supervisory reforms” that President Joe Biden has advocated, White House spokesperson Michael Kikukawa said on Friday. “The weakening of safeguards and supervision for large regional banks in the previous administration should be reversed…
By David Shepardson WASHINGTON (Reuters) -Some Federal Aviation Administration (FAA) engineers recommended grounding the Boeing 737 MAX in March 2019 after a second fatal crash and before the agency took action, a report released Friday said. The Transportation Department’s Office of Inspector General said in a report that its review of emails and interviews of…
By Hannah Lang (Reuters) – Among the key findings revealed on Friday in the Federal Reserve and Federal Deposit Insurance Corp assessments of the causes of last month’s two huge U.S. bank failures, one major oversight deficiency stood out: Neither has enough bodies for the job. Staffing shortages strained supervisory resources, particularly at the FDIC’s…
