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EU watchdog scrutinises banks' defences after SVB, Credit Suisse woes – Reuters

The European Union flag flies outside the European Commission headquarters in Brussels, Belgium, September 19, 2019.Reuters/Yves Herman/File photo Obtaining license rights LONDON, Sept 19 (Reuters) – Many of the euro zone’s major banks have met their January 2024 target for special bond issuances to replenish capital during the crisis, although some are willing to move […]

SVB changes executive bonuses after DOJ pushback: report

SVB Financial Group, the former parent of bankrupt Silicon Valley Bank, has reportedly announced changes to executive bonuses after opposition from the Justice Department. Bloomberg report. Bloomberg reports that James Bromley of Sullivan & Cromwell said on Tuesday that bonus standards for nine executives at SVB Capital, the capital and investment arm of SVB Financial […]

House Oversight chair presses Fed for more information on SVB collapse

House Oversight Committee Chairman James Cumer (R, Kentucky) said Fed Chairman Jerome Powell is investigating the failure of Silicon Valley Bank (SVB). He claimed that the association had not adequately responded to requests so far and asked for information. and Monday’s letter to PowellRep. Lisa McClain (R., Michigan), chair of the Health and Financial Services […]

SVB customers who lost deposits under pressure to repay loans

FOX Business host Charles Payne denounced the theft as “making money.” apart from Customers of Asia’s Silicon Valley Bank (SVB) have their deposits seized by the Federal Deposit Insurance Corporation (FDIC) but still owe outstanding loans to First Citizens Bank, according to a new report. Fed Report on Silicon Valley Bank Collapse Blames of Governance, […]

Goldman Sachs probed by Fed, SEC over SVB collapse

Goldman Sachs has been sued by federal regulators for its role in advising failing financial institutions on capital raising just before it finally collapsed this year, according to a report. said to be under investigation. The Fed, Securities and Exchange Commission and Justice Department are seeking documents from Goldman as part of a broader investigation […]

Senators blast former SVB chief over bonuses, stock sales

At Tuesday’s hearing before the Senate Banking Committee, senators accused Silicon Valley Bank CEO Greg Becker of giving out bonuses and selling stakes in the bank just before it collapsed. Senator Sherrod Brown (D, Ohio), chairman of the committee, told Becker at the hearings on the SVB and Signature Bank failures that “the bonuses are […]

Greg Becker, former SVB CEO, apologizes for bank’s collapse

Greg Becker, former CEO of failed Silicon Valley Bank, testified before Congress about the company’s “catastrophic” failure, citing rising interest rates and social media as key causes of the collapse. I apologize for my testimony. In preliminary testimony released Monday by the Senate Banking Committee, Becker said he believed the bank had responded to regulators’ […]

NYC pension funds lose $30M in SVB collapse

New York City teachers, cops and firefighters lost about $30 million in pension funds related to the Silicon Valley Bank collapse. Critics have accused pension plan administrator Brad Lander, the auditor, of favoring “awake” banks over shareholders. As of Jan. 31, five city pension funds had invested a total of $41,867,214 in failed banks, according […]

No, Federal Home Loan Banks didn’t cause the SVB collapse

Federal Home Loan Bank 11 Hour Lending to Silvergate, Silicon Valley and Signature BanksWe have regulated and represented these FHL banks through 40 years of economic ups and downs. Time and time again I have heard ignorant criticism that banks are too small, too big, too controlled by large commercial banks, or too unresponsive to […]

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