Here’s how the failures of Silicon Valley Bank and Signature Bank and moves by U.S. regulators may affect your wallet, according to financial advisors.
Are your bank deposits FDIC-insured? What to know in the wake of Silicon Valley Bank, Signature Bank closures
Silicon Valley Bank and Signature Bank customers are expected to have full access to their money. If your bank failed, could you expect the same?
‘That’s how capitalism works,’ Biden says of SVB, Signature Bank investors who lost money in failed banks
“Investors in the banks will not be protected,” Biden said. “They knowingly took a risk and when the risk didn’t pay off, the investors lose their money.”
Charles Schwab shares drop 12% even as the firm defends financial position
Schwab defended its financial position, reiterating that it has plenty of access to liquidity and a low loan-to-deposit ratio.
Biden Interior approves controversial Alaska oil drilling project
The $8 billion Willow project in Alaska, led by the state’s largest crude oil producer, would produce about 600 million barrels of oil over 30 years.
Analysts raise one main concern with regional bank stocks: Deposit flight
Regional banks with a high share of uninsured deposits could see customers pull their money out this week, analysts warn.
Carl Icahn reportedly prepares for a proxy fight at Illumina
Carl Icahn is preparing a proxy fight at Illumina, arguing that the life science maker’s acquisition of Grail cost its shareholders roughly $50 billion.
Rivian is revisiting its exclusivity agreement with Amazon for EV delivery trucks
Eliminating the exclusivity clause of the agreement would allow Rivian to court new customers as it works to ramp up production and seeks a cash infusion.
Mohamed El-Erian says U.S. may be stuck with sluggish growth and high inflation
The Federal Reserve still needs to hike interest rates, despite the stress on the banking system after the demise of Silicon Valley Bank, Mohamed El-Erian said.
Investors rush into bonds, gold in flight to safety after SVB rescue
Investors flocked to safe-haven assets amid an emergency plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.