FDIC – Page 3 – DIGIT INFO

Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector

U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S. benchmark indexes fell again on Friday as the government’s efforts last week failed to quell the country’s financial calamity. Janet […]

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‘Operation Choke Point 2.0’ may have contributed to SVB collapse: Mulvaney

While the existence of “Operation Choke Point 2.0” has not been confirmed, Mick Mulvaney spoke of “rumors” of its existence and the potential side effects of such a policy.

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US exploring ways to guarantee the country’s 18T of bank deposits: Report

The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount.

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Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations

On Monday, about a week after the collapse of Signature Bank, the Federal Deposit Insurance Corporation (FDIC) announced that Flagstar Bank, a wholly owned subsidiary of New York Community Bancorp, acquired 40 former branches of Signature and its assets. Flagstar assumed nearly all of Signature’s deposits, except for $4 billion of deposits related to the […]

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First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower

After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares […]

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Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends […]

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US midsize banks seek FDIC Insurance on ‘all deposits’ for 2 years: Report

The banking coalition reportedly argued that it would bring stability to the banking industry and reduce the chances of “more bank failures,” in a letter to federal regulators.

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Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal […]

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Crypto market cap reclaims $1T, and derivatives point to further upside

Bitcoin’s performance has outpaced Warren Buffett’s Berkshire Hathaway over the past six months as crypto markets appear to have turned a corner.

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SVB Financial Group Files for Chapter 11 Bankruptcy Protection to ‘Preserve’ Firm’s Value

On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week. 3 […]

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