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Banking

Banks in Turmoil

Federal Reserve raises key rate by quarter-point despite bank turmoil

by Associated Press
Mar 22, 2023
The central bank also signaled that it’s likely nearing the end of its aggressive series of rate hikes.
In a statement it issued, the central bank removed language that had previously indicated that it would continue raising rates at upcoming meetings.
Kevin Dietsch/Getty Images
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Banks in Turmoil

All eyes are on the Federal Reserve's next move in this "wobbly" economic moment

by Kai Ryssdal and Sarah Leeson
Mar 20, 2023
The inflation threat calls for one type of action, and the banking turmoil calls for another. How will the Fed respond?
Chairman Jerome Powell and other policymakers at the central bank will reveal their interest rate decision Wednesday. The Fed is also taking steps to stabilize the condition of regional banks and protect depositors.
Drew Angerer/Getty Images
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Banks in Turmoil

Is Switzerland still synonymous with safe banking?

by Stephanie Hughes
Mar 20, 2023
Switzerland’s reputation for secure, secret banking goes back to at least WW I. But its banks have changed over time, with mixed results.
UBS was reportedly worried that if Credit Suisse went bankrupt, it could have threatened the image of Swiss banking.
Fabric Coffrini/AFP via Getty Images
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Banks in Turmoil

Smaller banks keep a close watch over their liquidity

by Justin Ho
Mar 20, 2023
One concern: People will put their money in a bigger bank. But there's a good reason to leave it in smaller institution, one banker says.
If more people get anxious about the banking system, they may start withdrawing their money, said University of Alabama law professor Julie Hill.
Saul Loeb/AFP via Getty Images
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I've Always Wondered ...

You can protect more than $250,000 at a bank. But beware the “moral hazard.”

by Janet Nguyen
Mar 17, 2023
The FDIC allows coverage of different types of accounts at the same bank. There are also services that help you spread your money around.
Depositors are covered by the FDIC for up to $250,000, but there are ways to skirt the limit.
Karen Bleier/AFP via Getty Images
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Banks in Turmoil

The banking crisis: What you actually need to know

by Dylan Miettinen
Mar 17, 2023
Even if you don’t bank with Silicon Valley Bank or Signature Bank, the fallout from their collapses has probably grabbed your attention.
Given that the collapse of Silicon Valley Bank marked one of the largest bank failures since 2008, it can feel easy to draw comparisons to the start of the Great Recession.
Olivier Douliery/AFP via Getty Images
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Silicon Valley Bank Collapse

Behind SVB's collapse were a whole lot of texts on messaging groups

by Kristin Schwab
Mar 17, 2023
Chatter among the bank's depositors on social media and texting groups may have exacerbated its demise.
Bank runs of the 1930s happened slowly, because we banked and communicated differently then.
Hulton Archive/Getty Images
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Banks in Turmoil

Banks working on rescue plan for First Republic, AP sources say

by Associated Press
Mar 16, 2023
A group of Wall Street banks is planning a rescue package of around $30 billion for First Republic Bank, sources told The Associated Press on Thursday.
First Republic serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about $40 billion.
Justin Sullivan/Getty Images
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Banks in Turmoil

Regional banks rush to reassure customers after SVB failure

by Savannah Maher
Mar 15, 2023
They're letting depositors know that their money is safe and highlighting differences between their banks and the ones that failed.
Above, people line up to try to retrieve funds at a Silicon Valley Bank branch on March 13. That anxiety has spilled over to customers who use other regional banks.
Justin Sullivan/Getty Images
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Banks in Turmoil

Europe's Credit Suisse is in trouble. Could its problems infect the rest of the financial system?

by Mitchell Hartman
Mar 15, 2023
The bank, much larger than SVB, found problems in its financial reporting. Its Saudi funders ended support, but Swiss officials may step in.
Credit Suisse, an institution with global reach, has had problems prior to the current turmoil in the banking industry.
Fabrice Coffrini/AFP via Getty Images
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