#FDIC Releases Report Detailing #Supervision of the Former #SignatureBank, New York, New York https://www.fdic.gov/news/press-releases/2023/pr23033.html This detailed analysis identifies clearly that “the root cause of [Signature Bank’s] failure was poor management. [Signature Bank’s] board of directors and management pursued rapid, unrestrained growth without developing and maintaining adequate #riskmanagement practices and controls appropriate for the size, complexity and risk profile of the institution. #FinancialStability
#SUA. Acțiunile
#FirstRepublic Bank s-au prăbușit în ședința de ieri cu 49%, după o retragere masivă de depozite. Temeri că ar putea avea un scenariu asemănător cu cel al colapsului
#SignatureBank și
#SiliconValleyBank.
#BREAKING: Share price of First Republic Bank has plummeted by over 50% due to a loss of more than $100 billion in customer deposits.
First Republic Bank's stock plunged on Tuesday after it said depositors withdrew more than $100 billion during last month's crisis, with fears swirling that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.
#FirstRepublicBank
#SiliconValleyBank
#SignatureBank
#LockharTVMedia
Global regulators consider wider net to catch smaller US #bank—The demise of #SiliconValleyBank and #SignatureBank fuels concerns that existing focus on largest lenders is outdated, chart @FT https://cutt.ly/k7MgO1S
The collapse of #SiliconValleyBank left low-income communities without billions in promised lending, despite the federal bailout that benefited the bank's wealthy depositors and new owner.
We need #PublicBanksNow
#BankingCrisis #PublicBanks
#PublicBank #PublicBanking #SVB #SignatureBank
https://www.levernews.com/regulators-stiffed-low-income-communities-in-silicon-valley-bank-bailout/
Après la chute de #Silvergate et de #signaturebank qui operaient dans la crypto, #BinanceUS cherche des relations nouvelle avec autres banques comme Cross River Bank et Customers Bancorp Inc"pour garder l'argent de ses clients", mais ne parvient pas dû aux risques lié au secteur
Ω
#CustomersBank AKA #CUBI is on a mission to relive the Savings & Loan crisis of the 1980s... They're trying to keep their deposit base high enough to stay solvent by hiking the interest rates they pay but that means ballooning costs.
Worth noting that #CUBI is one of the last #crypto friendly banks in the United States... basically a mini-me of #SignatureBank / #SBNY. Will meet the same fate.
(h/t this guy https://twitter.com/RhoRider/status/1644410263083401216)
“So who does Dimon blame for the collapse of Silicon Valley Bank, Signature Bank, and Credit Suisse? Well, not the banks, exactly. Nor their panicky, wealthy depositors, either.” 1/ #JaimeDimon #SVB #SiliconValleyBank #SignatureBank #CreditSuisse https://www.thedailyupside.com/jamie-dimon-dishes-on-banking-crisis-in-annual-shareholder-letter/
“It’s hard to ignore the fingerprints of a Big Four accounting firm—as well as the office nameplates in the C-suite—in the high-profile collapses of Silicon Valley Bank and Signature Bank, as well as the near miss at First Republic Bank. In a veritable coup de grâce to independence, KPMG drafted audit opinions signing off on the banks’ financial statements."
#lawfedi #big4 #svb #signaturebank
Big Four Auditors and Consultants Need Liability—And a Divorce | https://news.bloombergtax.com/tax-insights-and-commentary/big-four-auditors-and-consultants-need-liability-and-a-divorce
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