Fed official: Bank r...from Tiyas

29 Mar 2023, 02:16 · Views 3,943

Fed official: Bank rules under review in wake of SVB failure. Silicon Valley Bank's management was informed by the Federal Reserve's bank supervisors of the risks of the bank's unusual business model in the fall of 2021, says Michael Barr, the Fed's vice chair for supervision. Barr said the bank's managers failed to address the problems, despite being given a low rating, while Silicon Valley Bank's failure was the result of mismanagement.

Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.

Reply 0

Leave Your Message Now

Tiyas

654 Posted · 907 Followers

First Citizens shares soar 50% after the bank buys a large chunk of failed Silicon Valley Bank. The deal will see First Citizens BancShares purchase approximately $72 billion of SVB assets at a discount of $16.5 billion.

Tiyas

Banking rebound remains fragile as regulators review response to failures. Investor confidence in the banking sector remains fragile as the ECB highlights the need for greater regulatory scrutiny following recent volatility, which saw European banks weaken slightly. Bank stocks in the US, however, rose slightly, overall financial stability remaining on a solid footing despite event-triggered banking fears.

Tiyas

Crypto Price Today: Bitcoin holds above $27,000; BNB, Litecoin down 5%. The crypto market is feeling the pressure of CFTC action against Binance as BTC price has slipped around the $27,000 level which is a drop of nearly 3% in the last 24 hours. We can expect the market to remain choppy in the coming weeks owing to the latest developments," Shivam Thakral, CEO of BuyUcoin, said.

Tiyas

Coca-Cola to divest bottling operations, focus on brands, strategy over time: Global president John Murphy. The beverage maker had first started the divestment process in end-2019, by selling off its bottling units in the north, which accounted for 10% of its bottling operations. But plans to sell the remaining business were paused as Covid-19 struck.

Tiyas

China Denies Pressuring Companies Like TikTok to Spy on Users. The Foreign Ministry rebuffed claims by U.S. lawmakers that TikTok could be a tool of surveillance for the Chinese government.

Tiyas