On Friday, March 10, 2023, the Federal Deposit Insurance Corporation (FDIC) was appointed receiver of Silicon Valley Bank (SVB) in California. SVB was the 15thlargest bank in the United States with approximately $210 billion in assets. It claimed to have banking relationships with nearly half ...
On Monday March 13, 2023, the Bank of England announced that Silicon Valley Bank UK Limited has been sold to HSBC UK Bank Plc. The situation remains fluid, and the following Q&A reflects our understanding as of Monday morning, March 13.
While this might be a blast from the past we’d rather leave in the proverbial rear-view mirror, in March of 2023 we were back to the future with the collapse of Silicon Valley Bank (SVB), the largest US bank to fail since 2008. While there are clear reasons SVB collapsed, which c...
and emergency response. the number of potential applications for drones led the faa to predict that more than 30,000 drones will be added to us airspace by the end of the decade. 60 to put things into perspective, there are currently only 7,000 aircraft over the united states at any ...
Silvergate, Silicon Valley Bank, Bank Receiverships in General, and Payroll Regulatory Challenges ByKevin Frankel,Erin Ashwell,Andrew W. Russell&Dion W. HayesonMarch 15, 2023 Posted inFinancial Institution Regulation In the wake of Silvergate’s collapse, Silicon Valley Bank entering receivership and...
One question people have asked is: Why didn’t Silicon Valley Bank hedge its interest-rate risk? SVB, like other regional banks, got a lot of deposits and invested them in long-term US government and agency bonds with fixed interest rates. As interest rates went up, those bonds lost valu...
By Hannah Lang WASHINGTON (Reuters) – The speed at which depositors fled Silicon Valley Bank this month – withdrawing $42 billion in 24 hours – […] Gold shines bright as prices skyrocket, but will the Fed douse the glittering flame? 2023-03-24 admin 0 Stakes are high at the next...
“FDIC”) in seeking to recover from Bank of America, N.A, unpaid deposit insurance assessments. The case is pending in the U.S. District Court for the District of Columbia. The FDIC relies on assessments from FDIC-insured institutions, like Bank of America, to fund the Deposit Insurance ...
The British Virgin Islands (BVI) has long been recognised for its thoughtful and balanced approach to regulation. As the digital asset industry gained momentum, observers eagerly awaited the BVI’s stance on Bitcoin and other cryptocurrencies. The Territory’s proactive response did not disappoint, ...
In October, the Insurance Regulatory and Development Authority of India (IRDAI) instructed all insurance companies to review their IT systems for potential vulnerabilities, reportedEconomic Times.This advisory came in response to reports of data breaches at two major general insurance companies, Star He...