SILICON Valley Bank’s (SVB) sudden collapse last week continued to spook global markets worldwide, with banking stocks across the world facing considerable pressure amid contagion fears.
BITCOIN jumped the most of almost a month after US authorities sought to stem concern about the health of the nation’s financial system.
THE European Central Bank is all but certain to raise interest rates again on Thursday, shifting analysts’ attention to how much higher policymakers plan to go in the months ahead to tame inflation.
CRYPTOCURRENCY firm Circle’s boss on Sunday said the firm would no longer be able to process minting and redemption through Signature Bank after it was shut by New York state and would handle settlements through BNY Mellon.
THE digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups. Now, two shutdowns in the banking industry — SVB Financial Group’s Silicon Valley Bank and Silvergate Capital — have set off a fresh set of stresses.
SILICON Valley Bank’s customers will be able to access all their money Monday (Mar 13) — both insured and uninsured deposits — in a major relief for wide swathes of the tech industry that had made SVB their go-to bank.
US financial regulators moved on Sunday (Mar 12) to protect depositors’ funds following the collapse of Silicon Valley Bank (SVB) and set up a new financial backstop, seeking to stem fears that households and businesses would flee smaller lenders.
SIGNATURE Bank was closed by New York state financial regulators on Sunday (Mar 12) as the fallout from last week’s implosion of SVB Financial Group’s Silicon Valley Bank spreads to other lenders.
A WOULD-BE buyer for the UK arm of failed US 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.
THE Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the US seeks to stave off a deeper crisis after SVB Financial Group’s failure.
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