Wed, Oct 18, 2023
Citigroup did not disclose paper losses on its portfolio for the third quarter.
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Tue, May 02, 2023
Pocket FM, a Gurgaon-based audio streaming platform, announced today, May 2, that it has raised $16 million in debt funding from the US-based Silicon Valley Bank (SVB).
Sat, Apr 29, 2023
The report, authored by Federal Reserve staff and Michael Barr, the Fed's vice chair for supervision, takes a critical look at what the Fed missed as Silicon Valley Bank grew quickly in size in the years leading up to its collapse.
Fri, Apr 28, 2023
First Republic Bank Crisis: The California-based lender’s stock price dropped by over 90 per cent this year after the customers withdrew $100bn of deposits during last month’s turmoil led by Silicon Valley Bank’s collapse. First Republic said on Monday that it was considering “strategic options” as it announced the firing of up to 25 percent of its workforce.
The Fed report also points out underlying cultural issues at the Fed, where supervisors were unwilling to be hard on bank management when they saw growing problems.
Tue, Mar 28, 2023
Signs of relief from the US market? What are the remaining risks in the US market? How much confidence increased from the purchase of Silicon Valley Bank? What is positive about US banks? Know from Anil Singhvi.
Mon, Mar 27, 2023
First Citizens BancShares Inc said on Monday it will acquire Silicon Valley Bank's deposits and loans as well as certain other assets from the Federal Deposit Insurance Corporation (FDIC). What's next in the US banking crisis? Watch Anil Singhvi's exclusive conversation with Global Market Expert, Ajay Bagga.
According to the news quoting Bloomberg, Silicon Valley Bank has assets of $16,700 Cr. First Citizens Bank bought SVB.
Speaking at India Global Forum event, Union Minister Ashwini Vaishnaw said while there was a time when India was only seen as a consumer of technology, today "many global developers like to have Indian start ups, entrepreneurs and academicians as their partners, as technology gets developed".
The deal includes assets worth around $72 billion from Silicon Valley Bridge Bank, National Association on a discount of $16.5 billion. A total of $90 billion in securities and other assets will still be under receivership for the FDIC to sell.
Sun, Mar 26, 2023
During the review meeting, Finance Minister Nirmala Sitharaman had an open discussion with the MDs and CEOs of PSBs on the global scenario consisting of the failure of the Silicon Valley Bank (SVB) and the Signature Bank (SB) along with issues leading to the crisis in Credit Suisse.
Sat, Mar 25, 2023
This is the first full review meeting after the presentation of Budget 2023-24 and banks would be asked to focus on the areas highlighted by the Budget, including credit flow to productive sectors. The meeting comes against the backdrop of global concern over the failure of banks due to aggressive monetary tightening.
Wed, Mar 22, 2023
The history of the Indian economy safeguarding itself and minimizing the impact from the heat of economic turmoil could be traced back to the Lehman crisis in 2008.
Tue, Mar 21, 2023
Sanjiv Bajaj, president of the Confederation of Indian Industry, says that the Reserve Bank of India is a strong regulator and has been keeping a close watch on the Indian banking system for long time
Sun, Mar 19, 2023
The failure of the two US-based banks sent shockwaves across the global financial system and weakened the sentiments in the banking sector in India too, wherein shares took a beating and declined in the range of 3-13 per cent in the week under review.
Credit Suisse crisis: The 167-year-old Credit Suisse is the biggest name ensnared in the turmoil unleashed by the collapse of US lenders Silicon Valley Bank and Signature Bank over the past week, spurring a rout in banking stocks and prompting authorities to rush out extraordinary measures to keep banks afloat.
Sat, Mar 18, 2023
Zee Business spoke to various analysts and economists to get a better understanding of how Indian banks are able to safeguard themselves from the spillover effects of crisis at Credit Suisse. They suggest that India's banking system is expected to remain unscathed from the troubles brewing in Switzerland-based bank.
All three indices of the US market ended the session deep in negative territory, with financial stocks down the most among the major sectors of the S&P 500. Besides, all 11 major sectors of the S&P 500 ended the session in negative territory.
Fri, Mar 17, 2023
The Dow Jones Industrial Average was down 229 points, while the NASDAQ composite was 0.2 per cent lower
Thu, Mar 16, 2023
Silicon Valley Bank collapse: Economists highlighted the fact that Indian banks have very low exposure to the SVB, thus there is hardly any risk involved
The ECB hiked rates by half a percentage point Thursday, underlining its determination to fight high inflation
Wed, Mar 15, 2023
The Securities Times said that while the SVB incident reflects loosened regulation of such banks in the US, a slew of financial regulatory reforms in China over the past years have cleaned up the industry, curbed shadow banking and reduced financial risks.
Startups have the facility of withdrawing 100% of their capital from SVB
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