Economy May 18 Your financial accounts are safe, experts say. Here’s what protects them By Hannah Grabenstein
Economy Mar 27 First Citizens strikes deal to acquire troubled Silicon Valley Bank While more than half of Silicon Valley’s assets will remain in U.S. receivership, the First Citizens deal announced late Sunday, at least initially, seemed to achieve what regulators have sought: a shoring up of trust in U.S. regional banks. By Associated Press
Economy Mar 22 Americans’ faith in banks hit low after failures, says AP-NORC poll Only 10 percent of U.S. adults say they have significant confidence in the nation's banks and financial institutions, a new poll finds. That is down from the 22 percent who said they had high confidence in banks in 2020. By Paul Wiseman, Hannah Fingerhut, Associated Press
Economy Mar 22 WATCH: Federal Reserve Chair Powell gives update after raising interest rate amid banking turmoil The Federal Reserve is grappling with a hazier economic picture, clouded by turmoil in the banking industry and still-high inflation, just as it meets to decide whether to keep raising interest rates or declare a pause. By Christopher Rugaber, Associated Press
Economy Mar 19 Banking giant UBS announces acquisition of Credit Suisse amid financial turmoil Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night. By Jamey Keaten, Ken Sweet, Associated Press
Mar 17 Biden calls for tougher penalties for executives of failed banks By Zeke Miller, Associated Press President Joe Biden is calling on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. Continue reading
Mar 16 Watch 6:25 News Wrap: Yellen dismisses fears more banks may collapse In our news wrap Thursday, it was another turbulent day in the financial world with news of rescues of troubled banks on both sides of the Atlantic, prosecutors in Virginia charged 10 people in the smothering death of a Black… Continue watching
Mar 15 Credit Suisse shares plunge, drag down European lenders By Jamey Keaten, David McHugh, Associated Press Shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders. Continue reading
Oct 09 WATCH: 2008 recession-era Fed Chair Bernanke and 2 other economists share Nobel Prize By David Keyton, Frank Jordans, Paul Wiseman, Associated Press Douglas W. Diamond, Philip H. Dybvig and former U.S. Federal Reserve Chair Ben Bernanke were recognized Monday for their research into the fallout from bank failures. Continue reading
Feb 27 In Russia, economic consequences of invasion begin to emerge By Associated Press Videos from Russia showed long lines of Russians trying to withdraw cash from ATMs, while the Russian Central Bank issued a statement calling for calm, in an effort to avoid bank runs. Continue reading