Banking Crisis 2023

The Los Angeles company says it secured $1.4 billion of cash from a financing facility from Atlas SP Partners after clients drew down an additional 20% of the bank's deposits. Deposit levels have "stabilized," PacWest says.

The neobank has added tools for payments, booking and other uses, while it's also receiving an influx of customers who fled Silicon Valley Bank.

Combining the two Swiss megabanks means more assets and a bigger brand for UBS. But it could be a heavy lift, slowing U.S. advisor recruitment.

Wall Street leaders and U.S. officials discussing an intervention at First Republic Bank are exploring the possibility of government backing to encourage a deal that would shore up the lender, people with knowledge of the matter say.

The Senate Banking Committee will host top Treasury, Federal Reserve and Federal Deposit Insurance Corp. officials March 28, one day before an identical hearing at the House Financial Services Committee.

Treasury Secretary Janet Yellen's latest remarks reaffirming the government's willingness to shore up uninsured deposits at troubled banks seem to have calmed markets, but sooner or later regulators are going to have to articulate an official policy.

The Swiss government is "temporarily suspending" deferred remuneration granted in the years up to 2022.

Economists have warned since last summer that speedy monetary tightening could be destabilizing. This week, the Federal Reserve will decide whether to stay on that course.

Sweden's largest pension fund, Alecta, is facing losses of almost $2 billion as a result of a failed investment strategy that made it one of the biggest shareholders in two collapsed U.S. banks and another that is embroiled in the ongoing banking crisis.

Following the second-largest bank failure in U.S. history, the California Department of Financial Protection and Innovation said it will examine how it can strengthen its system of financial regulation. The Federal Reserve has begun a similar review.