The Federal Reserve’s top bank cop blamed Silicon Valley Bank’s leaders, while previewing the cental bank’s review of its faulty oversight.
Category: Deposit Insurance
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Powell and Yellen Suggest Need to Review Regulations After Bank Failures
Proposals for more scrutiny of the financial sector are meeting resistance from industry and Congress.
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Regional Banks and Regulators Try to Soothe Depositors’ Fears
While some executives said money wasn’t being pulled from their small and midsize banks, the “too big to fail” giants attracted business customers.
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Push to Insure Big Deposits Percolates on Capitol Hill
The government only insures deposits of less than $250,000, but there is precedent for lifting that cap amid turmoil. It could happen again.
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Was This a Bailout? Skeptics Descend on Silicon Valley Bank Response.
The government took drastic action to shore up the banking system and make depositors of two failed banks whole. It quickly drew blowback.
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Is My Money Safe After the SVB Collapse? How Banks Protect Your Money.
The F.D.I.C. and other entities will protect most people’s bank and brokerage balances. But it’s as good a time as any for consumers to create other backstops.