The Louisville Metropolitan Police Department confirmed that at least five people were killed after a suspect opened fire inside Old National Bank in Louisville, Kentucky, Monday morning.
Fears of a widespread run on banks have receded.
Protesters in Paris stormed a building housing BlackRock amid ongoing demonstrations against President Macron’s pension reform plans.
On Monday’s broadcast of C-SPAN’s “Washington Journal,” Moody’s Analytics Chief Economist Mark Zandi said that he “wouldn’t be surprised” if we saw more bank failures, but that he doesn’t think any future failures will be major. Host John McArdle asked,
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that the amount the FDIC
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that “we are still a
The Federal Reserve’s loans to banks expanded at a slower pace, suggesting some stability for the sector.
Sens. Josh Hawley (R-MO) and Elizabeth Warren (D-MA) are leading a bipartisan group of senators in introducing legislation that would allow federal regulators to take back “all or part of” the compensation bank executives received in the five years preceding the event of another bank failure.
In a system of competitive banking, there will always be banks that misjudge the risks they face, and sometimes this will mean they fail.
A large amount of deposit funds ran from small banks to large banks.
Hundreds of protesters, including large numbers of retired soldiers and police, marched in downtown Beirut on Wednesday to protest Lebanon’s deteriorating economy. When the protesters attempted to breach a fence and storm the government headquarters building, security forces used tear gas to disperse them, and some of the demonstrators responded by throwing rocks.
Borrowing from the Fed is at a level not seen since the 2008 financial crisis.
New language in her Capitol Hill testimony appears aimed at calming markets.
On Wednesday’s broadcast of CNN International’s “One World,” CNN host, International Business Correspondent, and CNN Business Editor-at-Large Richard Quest stated that the Federal Reserve’s interest rate hike will make things “worse” for banks because “all the banks are stuffed to
On Wednesday’s broadcast of “PBS NewsHour,” Harvard University Economics Professor and former Chief Economist at the International Monetary Fund Ken Rogoff predicted that the Federal Reserve will “leave inflation higher for longer” due to fear of endangering the banking sector despite
On Wednesday’s broadcast of “PBS NewsHour,” Harvard University Economics Professor and former Chief Economist at the International Monetary Fund Ken Rogoff said that the Federal Reserve and Treasury Department have signaled that they’ll “protect depositors, even ones with billions of dollars
On Wednesday’s broadcast of CNN’s “Situation Room,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that the Federal Reserve’s decision on rate hikes was a
Europe’s banking sector is not in crisis despite the collapse of two major players on the continent, a sector official in France has said.
During an interview with CBS News on Tuesday, Moody’s Analytics Chief Economist Mark Zandi stated that the problems in the banking industry are the inevitable result of rate hikes by the Federal Reserve where “things are going to start to wobble and break and it’s going to feel uncomfortable.”
On Tuesday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Greg Steube (R-FL) stated that there is a “level of corruption in Washington” that “is beyond the pale” and cited Treasury Secretary Janet Yellen received $7 million in speaking
Yellen attempts to stand athwart bank runs, yelling “halt!”
During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that the rescue package for
Credit Suisse shares tumble after forced merger with another bank rejected. Switzerland’s largest party said it was against a guarantee.
On Thursday’s broadcast of CNBC’s “Squawk Box,” Harvard University Economics Professor and former International Monetary Fund Chief Economist Ken Rogoff argued that the issues around banks have not been fixed “at all” because in a world with higher inflation and
Bloomberg News reported that the rescue talks are being orchestrated by the U.S. government.
During an interview with Bloomberg on Wednesday, Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers argued that there is “probably an element of contagion” in Credit
On Wednesday’s broadcast of NBC’s “MTP Daily,” Rep. Josh Harder (D-CA) argued that covering deposits above the $250,000 limit in the case of Silicon Valley Bank (SVB) means “the genie is out of the bottle” and the limit on deposits
On Wednesday’s broadcast of the Fox News Channel’s “Your World,” Rep. James Clyburn (D-SC) stated that “We’re going to increase” the amount of bank deposits protected by the FDIC above the maximum of $250,000. Clyburn stated, “I do believe things
Fears of financial instability are dragging markets down again on Wednesday.
Swiss banking giant’s shares fell to an all-time low on Wednesday.
House Speaker Kevin McCarthy told Breitbart News last week that Joe Biden’s administration has been “fighting” against transparency “every step of the way” with GOP investigators probing the president’s family business dealings.
On Tuesday’s broadcast of CNN International’s “First Move,” Moody’s Analytics Chief Economist Mark Zandi stated that the February inflation report does justify a hike in interest rates because inflation is “still a little on the hot side.” But, given the
India’s small SVC Co-Operative Bank spent the weekend scrambling to reassure depositors it has no connections whatsoever to the imploding Silicon Valley Bank (SVB) of California. In addition to some confusion over their similar names, SVC executives said “social media rumors” have been spreading that linked the two banks together and claimed SVC is also trembling on the verge of collapse.
Shares of First Republic fell by a record 67 percent.
The CEO of Silicon Valley Bank (SVB) sold $3.57 million of company stock just two weeks before the technology sector’s primary financial institution collapsed on Friday, according to federal filings.
The parent company of Silicon Valley Bank (SVB) is looking for a buyer after the bank was shuttered by regulators on Friday amid a massive drain of deposits and losses on its securities portfolio, Bloomberg reported.
Bank accounts that use voice authentication can be broken into using AI technology, according to a Vice Media writer who hacked into his own bank account using the technique.
A crowd of several dozen angry protesters went on a rampage in Beirut on Thursday, blocking roads and vandalizing bank offices to protest the collapsing Lebanese economy and rules which prevent depositors from withdrawing their money.
During an interview with CNN International aired on Wednesday’s “First Move,” Special Presidential Envoy for Climate John Kerry stated that the job of multilateral development banks is to “take some risk” in order to spur the private sector to make the
Reports this weekend indicated that Lebanese citizens are increasingly turning to sit-in blockades, and outright armed robbery, to pry their savings out of frozen bank accounts as the national economy continues its trajectory toward total collapse.
