Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. Reuters Big name investors have called for the FDIC to extend coverage to all bank deposits. But ...
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First Citizens just bought Silicon Valley Bank – here’s everything you need to know about the latest twist in the banking turmoil
BrightFirst Citizens BancShares agreed to take over collapsed lender Silicon Valley Bank on Sunday. Getty Images First Citizens Bank agreed to buy most of Silicon Valley Bank on Sunday. The Raleigh, NC-based bank now owns 17 branches of SVB and ...
People have moved $500 billion into money-market funds and major banks since SVB imploded. JPMorgan offers 3 reasons why the shift will continue.
BrightSilicon Valley Bank Getty Images Higher rates, QT and trillions in uninsured accounts are pressuring vulnerable banks, JPMorgan said. Since SVB, $500 billion has flowed from smaller lenders to money market funds and big banks. “An FDIC guarantee of all ...
US banks have well over $1 trillion of uninsured deposits. Signature Bank was among the most exposed.
BrightAmerican flag over US money STILLFX/Getty Images The US government shut down Signature Bank on Sunday. On Friday, regulators closed Silicon Valley Bank, sparking panic among startups and VCs. Both banks had a huge amount of customer deposits that were ...