Tag: SILICON VALLEY BANK

January 16, 2024

For the quarter ending Dec. 31, the nation’s top six banks reported charges totaling $9.4 billion related to the Federal Deposit Insurance Corp.’s special assessment aimed at replenishing the agency’s deposit insurance fund after several bank failures last year. The […]

October 17, 2023

JPMorgan Chase is bolstering the unit of the bank that serves startup clients as it looks to fill a void left by several regional lenders that collapsed this spring. The New York City-based bank this year added close to 200 […]

September 29, 2023

The Federal Reserve’s internal watchdog said the central bank’s supervision of Silicon Valley Bank did not keep pace with the firm’s growth and increased complexity before it collapsed in March, according to a report released on Thursday. “With the benefit […]

September 25, 2023

The Banking Sector In 2023 The banking industry has had an eventful year so far. With the crash of the Silicon Valley Bank, multiple downgrades from the S&P and Moody’s, and generally negative investor sentiment surrounding this industry, it is […]

July 19, 2023

Major U.S regional banks said their deposits mostly stabilized and net interest income rose after the first-quarter collapse of Silicon Valley Bank sparked industry turmoil, sending their shares soaring on Wednesday. Three major U.S. regional banks met or beat profit […]

July 10, 2023

SVB Financial Group is suing the Federal Deposit Insurance Corp. to recover around $1.9 billion in cash the regulator seized after taking over failed Silicon Valley Bank in March, according to a complaint filed Sunday. The suit claims the lack […]

July 6, 2023

“Your bank’s dual roles meant that not only were you buying SVB’s debt portfolio at a discount, you were also raking in fees as the underwriter for the failed $2.25 billion capital raise that doomed SVB,” Warren wrote in a […]

May 17, 2023

In the weeks following Silicon Valley Bank’s downfall, the 25 largest U.S. banks experienced a $120 billion increase in deposits, according to the Federal Reserve. Meanwhile, the nation’s midsize and community banks saw deposits fall by over $108 billion during […]

May 15, 2023

The day Silicon Valley Bank failed on March 10, the bank paid out millions in bonuses to senior executives for its 2022 performance, according to the Federal Reserve’s April postmortem analysis and the bank’s proxy statement. Those bonuses were paid […]

March 30, 2023

Both the Senate Banking Committee and House Financial Services Committee held hearings this week on the federal regulatory response to the failures of Silicon Valley Bank (“SVB”) and Signature Bank. Witnesses at both hearings were Federal Reserve Board (“FRB”) Vice […]

March 15, 2023

Silicon Valley Bank’s lack of a chief risk officer for much of last year is being examined by the Federal Reserve as part of its probe of the bank’s failure, two people familiar with the matter said. SVB revealed in […]

March 13, 2023

In a joint statement, Treasury secretary Janet Yellen, Federal Reserve board chair Jerome Powell, and Federal Deposit Insurance Corporation (FDIC) chair Martin Gruenberg outlined how they are taking “decisive action” to strengthen confidence in the banking system. As well as […]

May 17, 2021

The deal sees the deployment of automated payment operations, which will simplify the management of “the entire cycle of money movement”, the two firms say. SVB and Modern Treasury will provide mutual clients with processing directly through their SVB bank […]

January 5, 2021

The Silicon Valley-Boston Private tie-up marks the opening salvo in 2021 mergers and acquisitions. In a conference call with analysts, Silicon Valley Bank CEO Greg Becker said he was drawn to Boston Private for its reputation, technology and team. SVB […]

November 28, 2017

Progress Software amended its credit agreement to include a $123.7 million senior secured term loan and a $150 million revolving credit facility. According to a related 8-K filing, JPMorgan Chase Bank served as administrative agent, sole bookrunner and sole lead […]