Silicon Valley Bank Collapse

Deutsche Bank says cutting risks from Russian IT Operations

Deutsche Bank is looking for ways to minimise business disruption as it reduces risks from its Russian technology operations in line with the law, Germany’s biggest lender said on Wednesday. The comments by a bank spokesperson followed a report in the Financial Times that the bank was winding down its remaining software technology operations in […]

The European Tech Startups: Between a Rock and a Hard Place

The European tech startups have found themselves at a standstill amid the worst banking crisis since 2008. The banking sector is in its worst shape since the 2008 financial crisis. It is causing irreparable damage to every sector. And even though the main failure is on a different continent, the European tech startups are caught […]

The Inevitability of the Fintech Reckoning

The Fintech reckoning was bound to happen. The industry has been growing steadily since the 2008 financial crisis, but the COVID-19 pandemic was the leading enabler of forced integration into a fragile economic situation. The quicker they climb, the harder they fall. Financial technology (Fintech) has been a growing industry since the late 1960s, even […]

Analysis - Investors Seek Value in Clobbered U.S. Regional Bank Shares

As U.S. banking contagion worries ebb, some investors are hunting for shares of fundamentally strong regional lenders that were swept up in this month’s epic sell-off. Investors sent a record net $236.2 million into the iShares Regional Bank ETF over the last two weeks, after Silicon Valley Bank’s collapse earlier this month fueled concern about […]

Wall St Equities Gain, Treasury Yields Rise as Bank Worries Ease

Wall Street equities gained and U.S. Treasury yields rose on Monday as investor concerns about the financial system were calmed after First Citizens BancShares said it would take on the deposits and loans of failed Silicon Valley Bank. The deal offered a respite after weeks of turmoil prompted by the collapse of tech-focused Silicon Valley […]

First Citizens Agrees to Acquire Failed Silicon Valley Bank

First Citizens BancShares Inc said on Monday it will acquire the deposits and loans of failed Silicon Valley Bank, closing one chapter in the crisis of confidence that has ripped through global financial markets. The Federal Deposit Insurance Corporation (FDIC), which took control of SVB earlier this month, said in a separate statement it has […]

First Citizens Bank to Buy SVB’s Deposits, Loans from FDIC

First Citizens Bank & Trust Co will buy all of Silicon Valley Bank’s deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement. (Reuters) Inside Telecom provides you with an extensive list of content covering all aspects of the Tech industry. Keep an eye on our News section to […]

Exclusive - Citizens Financial Eyes Bid for SVB’s Private Bank - Sources

Citizens Financial Group Inc is working on a bid to acquire the private banking business of failed Silicon Valley Bank, two people familiar with the matter said on Thursday. Citizens, one of the largest U.S. regional banks, is preparing to submit an offer in the auction of the business, which is called SVB Private, the […]

Yellen Says US Prepared to Take More Action to Keep Bank Deposits Safe

U.S. Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further action to ensure that Americans’ bank deposits stay safe amid turmoil in the banking system. “As I have said, we have used important tools to act quickly to prevent contagion,” Yellen said in remarks to the U.S. House of Representatives […]