The US Treasury yields rose on optimism that stress in the banking sector could be contained
svb collapse
Latest in svb collapse
bailout
First Citizens Bank to acquire SVB’s deposits, loans from FDIC
Silicon Valley Bridge Bank, National Association, had approximately $167 billion in total assets and about $119 billion in total deposits as of March 10
acquisitions
UBS to buy Credit Suisse for $3.2bn in a move brokered by Swiss government
Under the terms of the deal, UBS will pay 0.76 of one of its shares for each share of Credit Suisse, with the Swiss Federal Council guaranteeing liquidity for the beleaguered bank
Blockchain
Islamic crypto moves to reassure investors as Silicon Valley Bank goes bust
Islamic Coin to allocate $40 million for launch of a worldwide ‘Grants and Investment’ programme, while Haqq Network announces an exclusive tie-up with Holiday Swap, the world’s largest home exchange platform
Credit Suisse
Credit Suisse borrows $54bn from Swiss central bank to weather financial crisis
Bank’s share dropped below 2 Swiss Francs after a sell-off triggered by Saudi National Bank saying it can’t inject more cash because of regulatory reasons
Bank of America Corp
Bank of America reports over $15bn in new deposits within days after SVB collapse
Other banks like JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. also raked in billions in new deposits
bailout
Silicon Valley Bank UK arm rescued in private sale to HSBC
The move would protect deposits without taxpayer support
banks
Silicon Valley Bank: US banking shares plummet up to 67% amid global fears
First Republic Bank leads losses as US tries to calm contagion fears in global banking system
bailout
UK seeks to tap Middle East buyer for Silicon Valley Bank
The Bank of England announced late on Friday that it planned to use its bank insolvency procedure to resolve Silicon Valley Bank UK
bailout
US regulators move in to guarantee deposit access for SVB and Signature Bank
President Joe Biden’s statement, followed by the statement by the involved regulators, soothe the frayed nerves of US bank customers