SBNY News and Press, Signature Bank From 03/12/23

2023-03-12 22:28:32 ET Summary Roku got a wake-up call on cash management with nearly $500 million at risk at Silicon Valley Bank. The video streaming platform has $1.4 billion in cash not at risk, and the company needs to cut losses to avoid any future cash crunch. ROKU stock...

2023-03-12 21:36:49 ET The FDIC on Sunday night established Signature Bridge Bank as the successor to now shuttered Signature Bank ( NASDAQ: SBNY ) . The new bank is operated by the FDIC. All deposits from Signature Bank ( SBNY ) and almost all of its assets are no...

2023-03-12 20:24:11 ET After New York state took possession of Signature Bank ( SBNY ) and transferred it to the Federal Deposit Insurance Corp. (FDIC), Coinbase ( NASDAQ: COIN ) on Sunday said it had a cash balance of ~$240B at Signature Bank as of Friday. "As stated ...

2023-03-12 18:54:21 ET Treasury Sec. Janet Yellen, Federal Reserve Chair Jerome Powell and FDIC Chairman Martin Gruenberg Sunday said that depositors at shuttered Silicon Valley Bank ( NASDAQ: SIVB ) will have access to all their funds on Monday. They added that taxpayers ...

2023-03-12 18:51:07 ET New York state's Department of Financial Services has taken possession of Signature Bank ( NASDAQ: SBNY ) to protect depositors, Superintendent Adrienne A. Harris said Sunday. All depositors of the institution will be made whole, federal banking regulato...

2023-03-12 10:18:50 ET The Federal Deposit Insurance Corp. (FDIC) and the Federal Reserve are considering forming a fund that would allow regulators to backstop deposits at banks should more regulated financial institutions run into trouble after Silicon Valley Bank ( SIVB ) col...

2023-03-12 06:33:24 ET Summary Some banks have paper losses on their debt holdings as high as 67% of their current stock price. As interest rates rose sharply the last 15 months because the Fed increased their Fed Funds target, bond prices dropped sharply. Most of the informat...

2023-03-12 00:48:12 ET Summary SVB Financial's historic and quick collapse sent shockwaves around the markets last week, with fears running deep of bank runs on broader institutions. Companies across the business world are poised to rethink their deposit structures to avoid simila...

2023-03-11 20:14:49 ET Billionaire investor Bill Ackman expects more bank runs from Monday morning after Silicon Valley Bank, the California-based subsidiary of SVB Financial Group ( NASDAQ: SIVB ), collapsed following what turned out to be the largest bank run in U.S. history. ...

2023-03-11 10:24:00 ET The failure of SVB Financial's ( NASDAQ: SIVB ) Silicon Valley Bank triggered the decline of a number of other regional bank stocks on Friday, making them the biggest decliners of the week in the financial sector. The top performing stocks for the we...