SBNY News and Press, Signature Bank From 03/13/23

2023-03-13 08:36:43 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 ~$240M at Signature Bank as of Friday. "As stated ...

2023-03-13 08:34:30 ET Raymond James on Monday downgraded shares of First Republic Bank ( NYSE: FRC ) to Market Perform from Strong Buy as its earnings power could be negatively impacted if net deposit outflows were to come to fruition. The stock dropped some 65% in prem...

2023-03-13 08:15:00 ET Summary A troika of the Fed, Treasury and regulators stepped in over the weekend to help calm nerves in the wake of the SVB collapse. We show that SVB is an outlier in many ways, but it is too early to call the all-clear on the sector; it's a risk from the a...

2023-03-13 07:21:34 ET Listen on the go! Subscribe to Wall Street Breakfast on Apple Podcasts and Spotify Silicon Valley Bank ( SIVB ) depositors to have access to all funds on Monday. Federal Reserve creates lending facility for banks . Signature Bank ( SB...

2023-03-13 06:19:18 ET First Republic ( NYSE: FRC ) shares fell 61.03% in premarket trading, amid fear that Silicon Valley Bank's woes would spread to other banks in the tech-focused region, despite government intervention. Investors have grown wary of F...

2023-03-13 05:56:21 ET U.S. stock futures rose on Monday as fears of a wider contagion from the Silicon Valley Bank ( SIVB ) collapse faded after U.S. authorities secured depositors' funds and created a lending facility for banks to meet depositors' needs. Silicon ...

2023-03-13 05:00:00 ET Summary Some of the issues at SVB are shared by almost all banks. Most local banks hold loans to maturity so they are carrying them at cost. Stocks fell early in the week as short-term rates rose and another rate hike was priced in based on Powell’...

2023-03-12 23:23:48 ET Summary The FDIC announced the closure of New York-based Signature Bank over the weekend, along with guarantees for Signature Bank and failed Silicon Valley Bank. This marks the third major bank closure in less than a week, and if not for SVB falling first, ...

2023-03-12 23:22:48 ET Pershing Square CEO Bill Ackman said Sunday night that in light of the closures of Silicon Valley Bank ( NASDAQ: SIVB ) and Signature Bank ( NASDAQ: SBNY ), other banks are likely to fail, even with government intervention. However, the hedge f...

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...