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United States
Capital / Liquidity
FDIC Running Two Separate Auctions for SVB Assets This Week
By Editors | 22/03/2023
SVB and its private bank may be sold separately. First Citizens BancShares, Apollo Global Management, and a group of VC firms are considering bids.
Market Infrastructure
Migration to ISO 20022 Message Standard Commences
By Editors | 22/03/2023
This marks a significant milestone for the payments industry and the start of a coexistence period until November 2025, Swift said.
Capital / Liquidity
Secretary Yellen Indicates Intent to Protect Smaller Banks
By Manesh Samtani | 22/03/2023
US Treasury Secretary Janet Yellen suggested further action could be taken, if needed, to protect other institutions that suffer deposit runs.
Enforcement
Bulgaria Extradites Former OneCoin Exec to Face US Charges
By Editors | 21/03/2023
OneCoin’s former head of legal and compliance is alleged to have helped launder millions of dollars of illegal proceeds through shell companies and bank accounts.
Capital / Liquidity
US Banks Consider Fresh Efforts to Stabilise First Republic Bank
By Editors | 21/03/2023
The 11 banks which agreed to deposit $30bn into First Republic Bank last week are considering a direct capital infusion into the bank.
Crypto / Digital Assets
Flagstar Bank to Assume Signature Bank Deposits, FDIC Says
By Editors | 21/03/2023
The New York Community Bancorp subsidiary will assume “substantially all” the deposits of Signature Bank and buy $12.9bn of its loans at a discount.
Capital / Liquidity
US Bank Body Calls for Backstop to Cover All Midsized Lenders
By Editors | 20/03/2023
A group of midsized US lenders is calling on regulators to extend deposit protection to all deposits for the next two years to prevent a wider run on banks.
Capital / Liquidity
Multiple Reviews in 2021 & 2022 Identified Deficiencies at SVB
By Editors | 20/03/2023
Deficiencies were identified in 2021 but left unaddressed. Last year, Fed officials warned SVB executives about liquidity and the models used to calculate capital.
Enforcement
Biden Seeks to Hold Executives Accountable for Bank Failures
By Editors | 20/03/2023
Joe Biden is asking Congress to make it easier for regulators to fine and ban executives of failed banks and claw back compensation.
Capital / Liquidity
Central Banks Coordinate Action to Ensure Global USD Liquidity
By Editors | 20/03/2023
From Monday until at least the end of April, the Fed and other central banks will make US dollars available on a daily basis, rather than weekly.
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