The US Securities and Exchange Commission (SEC) is launching an investigation into First Republic Bank executives over allegations of insider trading. The investigation centers on the conduct of executives before the bank’s seizure and subsequent sale to JP Morgan Chase & Co. According to Bloomberg, the SEC is specifically investigating
PacWest Bancorp shares dropped more than 56% during Wednesday’s extended trading. The California holding company’s share price declined following news that the bank is “weighing strategic options.” PacWest is attempting to avoid the fate of other regional lenders that were taken over by American regulators in the last two months.
Deutsche, the German Multinational Investment Bank shares are down more than 10%, and its credit-default swaps surge amid wider concerns about the banking sectors. It is the third consecutive day and has now the bank lost more than a fifth of its shares this month. Deutsche shares tumbled after the
In the aftermath of the Silicon Valley Bank (SVB) collapses on March 10, 186 banks were identified as being at risk, as per recent research. These banks are dealing with problems equivalent to those that led to Silicon Valley Bank’s demise. Federal Reserve’s rapid rate-hike campaign reducing the bank’s assets,
Silicon Valley Bank (SVB), which had connections to big-shot international technology firms and venture capital, failed on 10th March due to one of the oldest issues in banking. Also, the startling collapse of Silicon Valley Bank and Signature Bank, which were affected by SVB, continued the wave in the U.S.
Credits rating agency Moody’s downgraded the debt rating of recently collapsed New York-based Signature Bank deep into “junk territory.” Moody’s rated Signature bank’s subordinate debt c, the grade indicates that the company is vulnerable to adverse economic conditions. It also stated that Moody’s withdraws the future ratings of the collapsed
While the global economy buzzed by the sudden collapse of the U.S. second-largest bank, Silicon Valley Bank (SVB), Goldman Sachs analysts predicted that they “no longer expect an interest rate hike” at March 22 meeting. In the past, Goldman Sachs reportedly predicted that Fed’s interest rates would increase by 25
Many Central Bank Digital Currency (CBDC) initiatives will be under supervision. Ripple has attempted to enter the Indian market before. Blockchain Company Ripple is planning to create an office in the Indian city of Bengaluru. Ripple advertised a new position in Bengaluru: Senior Project Manager, Central Banks in the city.
