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Keyword: depositors

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  • Yellen: ‘Most Banks’ Can Handle Uninsured Depositors Fleeing, Won’t Say No More Will Fail

    05/13/2023 4:30:52 PM PDT · by ChicagoConservative27 · 25 replies
    Breitbart ^ | 05/13/2023 | Ian hatchett
    During an interview with Bloomberg on Friday, Treasury Secretary Janet Yellen responded to a question on whether she has confidence that no other regional or small banks will fail by stating that she doesn’t want to get into “the situations of individual banks.” But overall, the banking system is in good shape and “banks are going to be able to survive this, but we’re monitoring the situation very, very carefully.” Yellen stated that the banks that have failed “have had some very unique characteristics that have made them vulnerable” and had profiles that are “not very common. But, look, a...
  • Warren, Ocasio-Cortez want details from Silicon Valley Bank’s large depositors

    04/10/2023 8:44:28 AM PDT · by ChicagoConservative27 · 12 replies
    The Hill ^ | 04/10/2023 | STEPHEN NEUKAM
    Sen. Elizabeth Warren (D-Mass) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) are pressing some of the largest depositors at the failed Silicon Valley Bank to reveal the nature of their relationship with the firm that collapsed last month. Warren and Ocasio-Cortez, two of the most progressive lawmakers in Congress, sent letters to 14 of the bank’s largest depositors, raising concerns about the relationship between the failed bank and some of the largest venture capital firms that invested in it. The fall of Silicon Valley Bank marked one of the largest bank failures in U.S. history and sent shockwaves through the global banking...
  • Janet Yellen: Chinese Depositors to Silicon Valley Bank to Be Made Whole

    03/16/2023 6:43:20 PM PDT · by ChicagoConservative27 · 23 replies
    Breitbart ^ | 03/16/2023 | Sean Moran
    Treasury Secretary Janet Yellen told Sen. James Lankford (R-OK) during a Senate Finance Committee hearing on Thursday that Chinese depositors will be made whole while community banks will have to pay higher fees. Yellen spoke before the Finance Committee to discuss President Joe Biden’s budget proposal, but given the increasing concern over the instability in the banking sector, most questions revolved around the federal government’s response to the collapse of Silicon Valley Bank, Signature Bank, and others.
  • U.S. government steps in and says people with funds deposited at SVB will be able to access their money

    03/12/2023 9:09:03 PM PDT · by SeekAndFind · 42 replies
    CNBC ^ | 03/12/2023 | Jeff Cox
    Key PointsRegulators approved plans Sunday to backstop both depositors and financial institutions associated with Silicon Valley Bank.Officials will unwind both SVB and Signature Bank, ensuring that depositors will have full access to their funds on Monday.The Federal Reserve stepped in with a separate facility that will provide loans up to one year for institutions affected by the bank failures."Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system," leading regulators said in a joint statement. Banking regulators devised a plan Sunday to backstop depositors with money at Silicon Valley Bank ,...
  • US banks warn Fed interest cut could force them to charge depositors

    11/25/2013 3:35:11 AM PST · by markomalley · 28 replies
    Financial Times ^ | 11/25/2013 | Tom Braithwaite, Stephen Foley and Robin Harding
    Leading US banks have warned that they could start charging companies and consumers for deposits if the US Federal Reserve cuts the interest it pays on bank reserves. Depositors already have to cope with near-zero interest rates, but paying just to leave money in the bank would be highly unusual and unwelcome for companies and households. The warning by bank executives highlights the dangers of one strategy the Fed could use to offset an eventual “tapering” of the $85bn a month in asset purchases that have fuelled global financial markets for the last year.
  • Banks Warn Fed They May Have To Start Charging Depositors

    11/24/2013 8:57:51 PM PST · by blam · 17 replies
    Zero Hedge ^ | 11-24-2013 | Tyler Durden
    Banks Warn Fed They May Have To Start Charging Depositors Tyler Durden 11/24/2013 15:24 -0500 The Fed's Catch 22 just got catchier. While most attention in the recently released FOMC minutes fell on the return of the taper as a possibility even as soon as December (making the November payrolls report the most important ever, ever, until the next one at least), a less discussed issue was the Fed's comment that it would consider lowering the Interest on Excess Reserves to zero as a means to offset the implied tightening that would result from the reduction in the monthly flow...
  • The Confiscation Scheme Planned for U.S. and U.K. Depositors (Greece?)

    03/29/2013 6:39:56 AM PDT · by Texas Fossil · 15 replies
    Truth Dig ^ | Mar 28, 2013 | Ellen Brown
    Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds. New Zealand has a similar directive, discussed in my last article here, indicating...
  • Obama donors get deal; depositors get ‘stiffed again’ - FDIC eases settlement for bankers

    06/10/2012 8:55:54 PM PDT · by Nachum · 5 replies
    Washington Times ^ | 6/10/12 | Chuck Neubauer
    A billionaire Chicago family that has donated and raised hundreds of thousands of dollars for President Obama got a deal from the federal government to avoid paying all of a $460 million settlement it agreed to in the 2001 failure of a Chicago-area bank it owned, while 1,400 former depositors are still owed more than $10 million in lost savings. And now, 11 years later, the prospect that any of the depositors will get their money back is bleak. The Pritzker family, which made its fortune in hotels and manufacturing, agreed to a $460 million settlement offer in December 2001...