Some millionaires and billionaires who have accounts with the bank are making backup plans for their account and loans.

The FDIC informed depositors on Tuesday that any accounts not closed by April 5 will be automatically shut and depositors will receive a check in the mail. 

The agency responsible for monitoring SVB was plagued by heightened turnover, among other issues.

The financial technology company, best known for its higher education business, is hiring a co-CEO and promoting its chief technology and chief accounting officers.

Diversity, equity and inclusion has only grown in importance to the financial services industry over the last few years. For that reason, DEI philosophies are becoming a bigger concern as buyers and sellers try to determine how their corporate cultures might mesh.

Pismo's platforms allow banks and financial technology companies to rapidly launch products for cards and payments, digital banking, digital wallets and marketplaces.

The unusual financing is meant to help First Citizens meet liquidity needs that arise in the next two years as it integrates SVB into its operations, the Raleigh, North Carolina, lender said in a regulatory filing.

With the acquisitions of CIT Group and a large portion of the failed Silicon Valley Bank, the North Carolina company has doubled in size for the second time in a little more than a year and joined the class of super regionals.

First Citizens BancShares in North Carolina has entered into a purchase and assumption agreement for all deposits and loans of the failed bank, according to the Federal Deposit Insurance Corp. About $90 billion of securities and other assets will remain in receivership.

Fred Eisel will succeed David Brehmer, who plans to retire from the $6 billion-asset Vizo Financial on Jan. 5, 2024.

Organizations must have fully-staffed internal controls to manage risk and ensure regulations are properly followed.

Financial tightening stemming from two recent bank collapses has served as its own check on inflation, according to Federal Reserve Chair Jerome Powell. He said the relatively small rate hike announced Wednesday was not the result of financial stability concerns.

SVB acquired Boston Private for $900 million in 2021 as part of its "vision is to be the premier financial partner for the innovation economy." 

The combined bank would have more than $8 billion of assets. The acquisition counters a trend of slowed merger activity amid regulatory pressure and an ongoing banking industry crisis.

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

After a bank run led to Signature Bank's failure, New York Community Bancorp bought much of what was left from the FDIC. The acquirer now faces questions about how it will persuade the remaining depositors to stick around.

The Raleigh, North Carolina, lender submitted an offer on Sunday to buy all of the failed SVB, and it may also participate in the auctions this week for the two parts of company, people familiar with the matter say.

A federal judge allowed a Jeffrey Epstein victim to proceed with a claim that the banks knowingly benefited from Epstein's sex trafficking by providing him with financial services. But the judge dismissed the top counts in two suits.