Banking Crisis 2023

The Federal Deposit Insurance Corp. has finalized a special assessment that is slightly pricier than originally proposed for banks with uninsured deposits of more than $5 billion. Trade groups voiced concerns that the largest banks are paying to clean up a mess created by regional banks.

2023 proved to be a rocky year for large regional banks. But under CEO Bill Demchak's guidance, the Pittsburgh-based company has navigated the turmoil better than many of its peers.

The agreement includes funds for small-business lending and mortgages for low- and moderate-income borrowers in California and Massachusetts. It puts an end to questions about the fate of an $11.2 billion plan that Silicon Valley Bank inked before it failed in March.

House Republicans and lawmakers on the Senate Banking Committee questioned the culture at the Federal Deposit Insurance Corp. after a Wall Street Journal report alleged a climate of sexual harassment and misogyny.

Superintendent Harris led the takeover of Signature Bank after it failed this spring. She joins Editor-in-Chief Chana Schoenberger to reflect on the lessons of this year's banking crisis, and how she is modernizing supervision.

A conversation with USAA's Paul Vincent

Federal Deposit Insurance Corp. Board Member Jonathan McKernan raised concerns Wednesday over his agency's justification for imposing higher capital on banks, saying they could give nonbanks a more competitive edge in certain activities.

A remnant of the failed bank, now owned by First Citizens, is trying to reclaim its once-prominent role in venture-debt lending to startups. But competition from HSBC and JPMorgan Chase as well as fintechs has multiplied in recent months.

The Federal Reserve Office of Inspector General said supervisors failed to promptly address the risks associated with Silvergate Bank's rapid growth in uninsured cryptocurrency deposits, ultimately leading to the bank's voluntary self-liquidation in March 2023.

The Federal Reserve governor said existing reports, including one published by the Fed's inspector general last week, were too limited in scope.