Banking Crisis 2023

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.

The Sacramento-area institution moved quickly and decisively to fill the gap created by the loss of First Republic and Silicon Valley Bank. A first-quarter rise in Bay Area deposits is a sign of bigger gains to come, San Francisco Bay Area President DJ Kurtze says.

The agency has a history of tangling with parent companies over how to split the burden after banking units collapse.

During the March 2023 banking crisis, company executives had to calm panicked customers, shore up liquidity and reassure investors after two other regionals failed. Key decisions during a critical seven-day window likely averted disaster.