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The U.S. Senate Banking Committee on Thursday called on the former chief executives of Silicon Vally Bank (SVB) and Signature Bank to testify as lawmakers weigh possible action after the banks' failures triggered market turmoil.
Regulators and officials across the European Union have been nervous about potential contagion to their own banking sector.
U.S. lawmakers are planning back-to-back hearings next week with top financial regulators on the failures of Silicon Valley Bank and Signature Bank, as Congress mulls potential next steps regarding the industry.
Former U.S. Sen. Heidi Heitkamp argues Democrats and Republicans have been too quick to place political blame after Silicon Valley Bank's collapse.
New York Community Bancorp. Inc. NYCB, +31.65% was upgraded to buy by DA Davidson on Tuesday, with analysts saying the acquisition of certain assets and liabilities of Signature Bridge Bank would accelerate its transformation to a more commercial bank.
SLR Investment Corp. SLRC, +0.42% late Monday said that, following a “thorough review,” the failures of Silicon Valley Bank and Signature Bank won't impact the company's operations. “We have concluded that these bank issues should not have a material adverse effect on the financial performance, portfolio credit quality, or liquidity position of the company.
Cryptocurrency exchange Coinbase Global Inc said on Monday it has stopped support for Signature Bank's digital payments platform Signet, more than a week after U.S. regulators took control of the bank.
This is an excerpt from Tom's guest article in the InvestorPlace Digest e-letter. To sign up for this newsletter, please click here.
Wedbush on Monday upgraded New York Community Bancorp Inc. NYCB, -4.66% to outperform from neutral based on its expected earnings boost from its acquisition of Signature Bank's loan and deposit portfolio, as announced by the Federal Deposit Insurance Corp. (FDIC). New York Community Bancorp is rallying 30% in premarket trades.
New York Community Bank will purchase a large chunk of the failed Signature Bank's assets in a $2.7 billion deal, the Federal Deposit Insurance Corp (FDIC) announced Sunday. The FDIC said that the deal will include New York Community Bank acquiring $38.4 billion worth of Signature Bank's assets.