Pension funds report millions in losses amid Silicon Valley Bank collapse
An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.
An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.
Last week’s collapse of Silicon Valley Bank and its subsequent takeover by federal regulators sent tremors through US markets.
First Republic will get a total of $30 billion from Wall Street giants, including $5 billion each from JPMorgan, BofA, Citi, and Wells Fargo.
Congress must repeal the Trump-era law, which was supported by both Republicans and Democrats, say advocates and some lawmakers.
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Treasury Secretary Janet Yellen on Thursday told a Senate panel that the U.S. financial system is on solid footing following the second- and third-largest bank collapses in the nation’s history. Her remarks come after a bank run on Silicon Valley Bank (SVB) and Signature Bank forced federal regulators to close the banks and protect all…
Exiled Chinese billionaire Guo Wengui, an associate of former Trump White House adviser Steve Bannon, was arrested by federal authorities in New York on Wednesday morning, accused of orchestrating a $1 billion fraud scheme, prosecutors announced.
“We don’t know yet whether the consequences of easy money and regulatory changes will cascade,” in the regional banking sector, said BlackRock’s CEO.
Trading halted at more than a dozen regional banks after prices continued to free fall.
Biden administration officials announced a series of emergency moves to reassure the public of the soundness of the financial system.