The hearing will mark the first time the ex-SVB and Signature officials speak in public about the bank failures that regulators feared could set off a crisis.
In a separate hearing May 18, the committee will hear from top federal bank regulators, including Michael Barr, vice chair for supervision at the Federal Reserve, Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation, Michael Hsu, acting Comptroller of the Currency, and Todd Harper, chair of the National Credit Union Administration.
Barr and Gruenberg are both expected to face additional questions about oversight at SVB, Signature and the latest bank to fail, California-based First Republic Bank. The slow-motion collapse of First Republic over the past several months culminated this weekend in a federal takeover andIn addition to the federal witnesses, two high-profile state regulators responsible in part for the oversight of SVB, First Republic and Signature Bank will also appear before the committee: California Department of Financial Protection and Innovation Commissioner Clothilde Hewlett and New York State Department of Financial Services Superintendent Adrienne Harris.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Nick Timiraos: First Republic Bank failure destabilized by ‘earthquake’ from SVB failureFollowing the second largest bank failure in U.S. history, First Republic Bank has been sold to J.P. Morgan. CNBC Senior Markets Correspondent Dominic Chu, NBC News White House Correspondent Monica Alba, and Wall Street Journal Chief Economics Correspondent Nick Timiraos join Andrea Mitchell to react. “We had an earthquake when Silicon Valley Bank failed in mid March, and earthquakes can destabilize other buildings, they can weaken other buildings around the epicenter of that quake, and that's what happened here,” says Timiraos. “When they reported earnings last week, and they made clear the extent of just how much money had gone out the door, after the failure of SVB, people began to say ‘wait a minute, is this bank really viable?’”
Weiterlesen »
Bitcoin Survived SVB And Silvergate Bank Fails; It Will Survive First Republic’s, TooOver a one-month period beginning March 13, when Silvergate, Signature Bank and Silicon Valley Bank all folded, the bitcoin price has gone up by 25%, beating traditional financial stocks. Bitcoin haters in government and traditional banking have their work cut out for them.
Weiterlesen »
Bitcoin Survived SVB And Silvergate Bank Fails; It Will Survive First Republic’s, TooOver a one-month period beginning March 13, when Silvergate, Signature Bank and Silicon Valley Bank all folded, the bitcoin price has gone up by 25%, beating traditional financial stocks. Bitcoin haters in government and traditional banking have their work cut out for them.
Weiterlesen »
FDIC recommends raising deposit insurance limit for business accounts after SVB, First Republic failuresIf businesses can’t meet payroll because their bank failed, that could have knock-on economic effects, regulators said after Silicon Valley Bank and First Republic Bank failed.
Weiterlesen »
The difference between First Republic and SVB's collapseWhile the two banks' failures have been attributed to similar root causes, the way the two have been handled by regulators has been markedly different.
Weiterlesen »
Editorial: What Bay Area banks can learn from SVB, First Republic failuresBanks that help fuel the tech economy must take a hard look at their practices to prevent future collapses.
Weiterlesen »