Banking Crisis 2023

An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.

Comerica Bank in Dallas has been around since before the Civil War. But the banking crisis of 2023 tamped down on its access to low-cost funding, and the problem persisted until it finally decided to sell itself.

Fifteen banks have failed since 2019, with the most recent one occurring on Jan. 17.

A class action lawsuit against the bank's top executives and its auditor in connection with its 2023 failure was dismissed by a federal judge, who said the court did not have the authority to hear the case.

New York's top financial regulator Adrienne Harris said the failure of Signature Bank two years ago spurred the agency to change the way it oversees banks, including more scrutiny for those with consistently subpar CAMELS ratings.

In a letter to Federal Reserve Chair Jerome Powell, Sen. Elizabeth Warren called on the Fed to impose penalties and sanctions on leaders of the failed bank.

New research on the failures of Silicon Valley Bank and other regional banks in 2023 points to cyclicality of venture capital and the volatility of crypto as bigger factors than uninsured deposits or unrealized losses.

The banking sector has stabilized significantly since the spring of 2023, but elevated interest rates have created lingering issues on bank balance sheets.

A Government Accountability Office report Thursday said emergency actions taken by federal regulators in the wake of Silicon Valley Bank's failure were justified and appear to have stemmed further disruption, but noted those actions could contribute to moral hazard.

The Federal Deposit Insurance Corp. is considering suing former Silicon Valley Bank executives over risk management decisions, imprudent dividends and billions in losses that fueled a banking crisis in 2023.

Known as a pragmatic moderate before arriving at the Fed, Vice Chair for Supervision Michael Barr is now synonymous with an aggressive and divisive approach to bank regulation. Can he still accomplish his goals under President Trump?

A report by the Federal Deposit Insurance Corp.'s Office of Inspector General revealed deficiencies in the agency's preparedness for large bank failures.

Americans for Financial Reform wants investigations into the directors and executives of Silicon Valley Bank, Signature Bank and First Republic Bank released before the Jan. 20 inauguration.

California Department of Financial Protection and Innovation Clothilde "Cloey" Hewlett will step down Dec. 30.

While trade groups representing Oklahoma banks argue the failure of Oklahoma-based First National Bank of Lindsay is an isolated incident, some in the industry say it may be a sign of more collapses to come.

The Office of the Comptroller of the Currency is referring the issue to the Department of Justice. The failure of the $107.8 million bank will also cost the Deposit Insurance Fund an estimated $43 million.

Acting Comptroller of the Currency Michael Hsu's suggestion that regulators designate certain midsize regional banks as domestic systemically important banks could boost oversight but may also complicate the regulatory landscape, observers say.

In his reset of the Basel III endgame proposal outlined Tuesday, Federal Reserve Vice Chair of Supervision Michael Barr deemphasized the connection between last year's bank failures and raising capital. That makes a world of sense.

Industry Bancshares got into a deep hole after rising interest rates tanked the value of its sizable bond portfolio. Now the Texas community bank is expecting a $195 million capital infusion and taking steps to start relying more on revenue from loans.

A report from the Office of Inspector General disclosed that the Federal Housing Finance Agency issued enforcement actions against two Home Loan banks.