NEW YORK, March 23 (Reuters) – Citizens Financial Group Inc (CFG.N) is preparing a bid to acquire the private banking business of bankrupt Silicon Valley Bank, two people familiar with the matter said Thursday. Citizens, one of the largest regional banks in the US, is preparing to bid for the auction of the company, which … Read more
March 23 (Reuters) – The Bank of England followed the Federal Reserve and the Swiss National Bank on Thursday in continuing rate hikes, saying the UK banking sector was strong enough to withstand the instability that rippled through markets this month. Relentless rate hikes to contain inflation are among the factors responsible for the worst … Read more
NEW YORK, March 22 (Reuters) – As the beleaguered First Republic Bank (FRC.N) weighs its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, creating a “bull case” scenario becomes more difficult for the stock. First Republic, whose shares have lost much of their value since the … Read more
March 22 (Reuters) – US authorities will consider moves on Wednesday to further strengthen financial stability, along with scenarios to address the problems regional lender First Republic Bank continues to face. While the recent market turmoil has eased, the Federal Reserve meeting is now at the center of attention, with traders arguing over whether the … Read more
March 21 (Reuters) – SVB Financial Group (SIVB.O) said on Tuesday that the US Federal Deposit Insurance Corporation had taken “improper actions” to close it off from cash held at its former subsidiary Silicon Valley Bank, which has been banned by regulators seized to stop a run on the national bank. SVB Financial made the … Read more
March 20 (Reuters) – The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposit division and its private bank after failing to find a buyer for the failed bank last week found a lender. It will bid for Silicon Valley Private … Read more
March 18 (Reuters) – BlackRock Inc (BLK.N) Vice Chairman Philipp Hildebrand joins talks as Swiss officials try to broker a deal for UBS Group (UBSG.S) to acquire Credit Suisse Group AG (CSGN.S) take), Bloomberg News reported on Saturday, citing unidentified sources. When asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview … Read more
March 18 (Reuters) – Credit Suisse Group AG (CSGN.S) embarked on an all-or-nothing weekend after some rivals became cautious in their dealings with the bank as regulators urged the bank to pursue a deal with Swiss rival UBS AG (UBSG. S). Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over … Read more