Discussions, though preliminary, have focused on how the industry could arrange an investment that would increase the bank’s capital, according to people familiar with the matter. Among the options on the table, people said, is investment in the First Republic by the banks themselves. Eleven major banks banded together last week to deposit $30 billion … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
The Federal Deposit Insurance Corp. said Monday it had transferred all deposits, insured and uninsured, from the old Silicon Valley Bank to a new full-service bridge bank operated by the FDIC as part of an action to protect all depositors from the bank. . The move comes after the regulator closed the bank and its … Read more
First Republic Bank was under pressure following the collapse of Silicon Valley Bank. Photo: Devin Blaskovich for The Wall Street Journal Updated March 12, 2023 9:00 PM ET Bank of the First Republic FRC -14.84% said it strengthened its finances with additional funding from the Federal Reserve and JPMorgan Chase JPM 2.54% & What. The … Read more
Investors feared the fastest interest rate increases in decades meant something in the economy could snap. Last week it was. Now investors are wondering: what else could crack? Silicon Valley Bank was shut down on Friday after being hit by a run on its deposits, the second-largest bank failure in US history. The fallout rocked … Read more
JPMorgan JPM -0.59% Chase & Co. has sued former executive Jes Staley over his ties to Jeffrey Epstein, identifying Mr Staley as the “powerful financial executive” charged with sexual assault in a lawsuit against the bank. Late last year, an unnamed woman alleged that JPMorgan aided Epstein’s sex trafficking by allowing him to remain a … Read more
Forget the whiz-bang technologies that are supposed to solve climate change. An ancient farming practice that removes carbon from the atmosphere is receiving renewed attention and big business money. Biochar is a black, charcoal-like substance that, when buried underground, sequesters carbon dioxide, the primary greenhouse gas responsible for climate change. It has long been used … Read more
