State California Financial News

17.03 / 01:07

regulation Congress SVB Signature Bank lawmaker US lawmaker suggests Signature's collapse was tied to instability of crypto

Michael Bennet, a United States Senator representing the state of Colorado, has suggested that banks that associated with crypto firms did not make “prudentially sound” decisions.

17.03 / 00:07

markets Stablecoin Banks Federal Reserve Derivatives Silvergate Bitcoin Bears Bitcoin bears could face $440M loss in Friday's options expiry

The rejection that followed Bitcoin's (BTC) rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since March 10, when the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB).

16.03 / 16:23

Jobs Report, Bank Failure Complicate Outlook on Interest Rates

The February employment report does little to sharply alter the economic outlook for Federal Reserve officials who are considering how much to raise interest rates at their coming meeting.

16.03 / 00:49

regulation Federal Reserve Signature Bank regulatory Senator Warren says Fed chair 'has to recuse himself' from reviewing regulatory failures

Massachusetts Senator Elizabeth Warren, one of the more prominent anti-crypto voices in the United States Congress, has called on Jerome Powell to recuse himself amid an internal probe at the Federal Reserve.

15.03 / 22:23

markets business Banks Federal Reserve Central Bank Silicon Valley Reserve Why isn't the Federal Reserve requiring banks to hold depositors' cash?

The Federal Reserve Board reduced banking reserve requirements to zero in March 2020. Since that time, banks in the United States have not been required to actually hold any depositor money in the bank, making a flawed system — fractional reserve banking — worse.

15.03 / 21:15

UPS Provident Aware CBS SVB Yellen Works with Regulators to Address Silicon Valley Bank Collapse

On March 10, 2023, California's financial watchdog shut down Silicon Valley Bank (SVB) following an announcement of a significant sale of assets and stocks to raise $2.25 billion in capital to shore up operations. As a result, the Federal Deposit Insurance Corporation (FDIC) was appointed as the receiver to protect insured deposits. While the FDIC only insures up to $250,000 per depositor, per institution, and per ownership category, concerns are mounting about the impact of the collapse of SVB, particularly on small businesses that employ people across the country.

15.03 / 19:57

COST Provident Target BlackRock Immunic NOT Larry Fink: BlackRock is not the 'environmental police'

Asset managers like BlackRock are not «the environmental police,» Larry Fink said in his annual chairman's letter to investors, which was published on Wednesday.

15.03 / 14:11

Tether USDT Pool Exodus USDC Holders Panic Sell Amid Solvency Concerns

USD Coin (USDC), a popular stablecoin pegged to the U.S. dollar, has been facing solvency concerns since March 10, leading several holders to panic sell their holdings and switch to other stablecoins. USDC's solvency fears arose after the disclosure that a portion of USDC's collateral is held at Silicon Valley Bank, which was shut down by California authorities after revealing efforts to raise extra capital. The news of the bank's closure and USDC's collateral in it caused concern among USDC holders, leading to panic selling and mass exodus.

15.03 / 12:47

Jobs Report, Bank Failure Complicate Outlook on Interest Rates

The February employment report does little to sharply alter the economic outlook for Federal Reserve officials who are considering how much to raise interest rates at their coming meeting.

15.03 / 12:47

Lowe's Low jobless claims U.S. Jobless Claims Jump but Remain Historically Low

Worker filings for U.S. unemployment benefits jumped last week due to increases in New York and California but remained historically low, as demand for labor outstrips the number of people looking for work.

15.03 / 10:31

business Adoption SVB mixup forces India's SVC Bank to issue a notice of clarification

The shockwaves caused by the collapse of Silicon Valley Bank (SVB) were felt by countless businesses, including a bank from India that had no relation with the California-based banking institution.

15.03 / 00:09

SEC CEO SVB SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans

Silicon Valley Bank CEO Greg Becker sold nearly $30 million of stock over the past two years, raising new questions over insider stock sales.

14.03 / 22:51

Booking SVB KKR Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans

Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans held by Silicon Valley Bank, people familiar with the discussions told CNBC.

14.03 / 19:09

regulation Central Bank banking Market Update Bitcoin Banks collapsing; stablecoins depegging — What is happening? Watch The Market Report live

This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding the latest bank collapse and the USD Coin (USDC) depeg.

14.03 / 16:53

Jobs Report, Bank Failure Complicate Outlook on Interest Rates

The February employment report does little to sharply alter the economic outlook for Federal Reserve officials who are considering how much to raise interest rates at their coming meeting.

14.03 / 16:53

Lowe's Low jobless claims U.S. Jobless Claims Jump but Remain Historically Low

14.03 / 15:41

COST Lowe's CEO Airlines Honeywell KeyCorp Stocks making the biggest moves premarket: First Republic, Western Alliance, Uber, Lyft and more

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14.03 / 05:15

regulation us government Federal Reserve banking US Fed faces internal probe over Silicon Valley Bank failure

The Federal Reserve is investigating the factors that led to the failure of Silicon Valley Bank — including how it supervised and regulated the now-collapsed financial institution.

14.03 / 04:43

business Banks banking Silicon Valley FDIC to attempt another auction of Silicon Valley Bank: Report

Silicon Valley Bank (SVB) could be returning to the auction block with United States regulators taking a second attempt at finding a buyer for the now-collapsed bank.

14.03 / 00:43

Jobs Report, Bank Failure Complicate Outlook on Interest Rates

The February employment report does little to sharply alter the economic outlook for Federal Reserve officials who are considering how much to raise interest rates at their coming meeting.

14.03 / 00:35

UPS BTC Action CoinMarketCap SVB regulatory Bitcoin soars as Silicon Valley Bank depositors get a regulatory lifeline

Following the decision by the U.S. Department of the Treasury, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) to restore all customer deposits at failed Silicon Valley Bank (SVB), Bitcoin’s [BTC] price rallied by almost 10% in the last 24 hours.

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