Banking Crisis 2023

Venture capital banking and wealth management are two areas where the nation's largest bank sees a chance to make gains amid a rash of bank failures. After the company's investor day on Monday, one analyst wrote: "Goliath is winning."

After First Citizens acquired SVB in March, HSBC poached 42 bankers, misusing SVB's confidential, proprietary and trade secret information to execute their scheme, according to a complaint filed Monday in federal court in Northern California.

Traders added $2.1 billion to short positions in regional banks for the five-day week ending May 19, a net increase of about $2 billion from a week earlier, according to data from S3 Partners LLC.

JPMorgan bought First Republic Bank earlier this month after it became the second-largest bank failure in U.S. history and the fourth regional-bank collapse this year.

In April, the government extended a plan to continue selling down its stake in NatWest, which was around 84% at its peak. The latest disposal means the U.K. has sold more than half its shareholding.

The bank said it agreed to sell a $2.6 billion portfolio of 74 real estate construction loans as part of its plan to shore up liquidity.

Deposits at commercial banks decreased by $26.4 billion in the week ended May 10 to $17.1 trillion, according the Federal Reserve. The drop was mostly at large banks.

Banking regulators and executives from the three regional banks that failed this spring testified in a marathon of hearings this week. These are the four threads to emerge from those hearings that banks need to watch.

Sen. Elizabeth Warren, D-Mass., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg that large banks are "seeking to pay back the gap in the deposit insurance fund with devalued assets."

In a speech delivered to the Texas Bankers Association, the Federal Reserve governor called on bankers to create and test liquidity plans capable of weathering turmoil.

First Citizens, JPMorgan Chase and New York Community Bancorp all bought failing banks in 2023. Here's what experts say they and other acquirers should do to ensure the tech integration is smooth.

During a Senate Banking hearing with regulators, Sens. Jon Tester, D-Mont., and Mark Warner, D-Va., raised concerns about sweeping policy changes, while bipartisan consensus emerged around curbing executive compensation.

Sens. Jon Tester, D-Mont., and Thom Tillis, R-N.C., suggested that the reports released by the Federal Reserve and the Federal Deposit Insurance Corp. didn't tell the whole story of the banking crisis.

Under a tax-sharing agreement, the money will eventually be divided between the holding company and an FDIC receiver, who is overseeing the remnants of the failed bank.

Short interest as a percentage of shares outstanding in the SPDR S&P Regional Banking ETF rose to 92% from 74% a week ago, according to data compiled by S3 Partners, a technology and data-analytics firm.

Former First Republic CEO Michael Roffler, in his first public comments since the failure of the bank, said changes to deposit insurance would be worthwhile for Congress to consider.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

In recent years, stress tests have not accounted for some very clear real-world risks. This must change immediately.

Michael Barr, the Federal Reserve's vice chair for supervision, fought back against criticisms by Republicans on the House Financial Services Committee that toughening capital requirements would be an overreaction to the recent banking crisis.

Nominating and confirming acting Comptroller Michael Hsu would solve a serious problem in a good way.