Silicon Valley Bank Depositors To Be Made Whole While Signature Bank Also Shuttered
The US government has moved to protect depositors of Silicon Valley Bank (NASDAQ: SIVB) following the forced closure of the bank by the California Department of Financial Protection and Innovation. The measure was announced this evening in a joint statement by the Department of the Treasury, the Federal Reserve, and the FDIC. At the same […]
Used Car Prices Signal Inflation Is Not Yet Defeated
News which suggests that inflation may remain higher for longer seems to come in daily. Just in the last few days, fresh data showing that used car prices have u-turned and are starting to rise sharply again, as well as a revised analysis of the Personal Consumption Expenditures (PCE) Price Index by the Federal Reserve Bank […]
33% of Canadians Renting No Longer Want to Buy A Home
Inflationary pressures and rising mortgage costs are beating down Canadians’ confidence (or interest) in investing in real estate. A new study found that the portion of Canadian non-homeowners who don’t plan to buy a primary residence has jumped to 33% in the second half of 2022 from 25% in the first half of the year […]
Regional Banking: Will There Be A Failure After Silicon Valley Bank?
The rapid collapse of SVB Financial Group (NASDAQ: SIVB), the 16th biggest bank in the U.S., and the potential implications of the biggest bank failure in the U.S. since the financial crisis in 2008-2009 have trumped all other financial news over the past few days. A chief reason for SIVB’s failure was many depositors’ decisions to withdraw funds […]
$BABY: Weak Demand For IPO Caused Debuting Nasdaq Stock To Fail On Trading Day
PishPosh, a small baby-goods shop that wanted to list under the ticker BABY, had its initial public offering postponed due to little demand, in a rare occurrence of a stock failing to begin trading on the day of its scheduled market debut. About 3:38 p.m. ET on Wednesday, Nasdaq said in an advisory that the IPO […]
Intelligence Reports Say Trudeau Knew Chinese Officials Were Funding Canadian Politicians
Prime Minister Justin Trudeau stated that he was never briefed on the matter, and his security adviser dismissed it out of hand, but two high-level national security reports released before and after the 2019 election indicate that they were warned that Chinese government officials were funneling money to Canadian political candidates. Reviewed and reported by […]
What Happened at Silicon Valley Bank?
The FDIC insured bank could not meet withdrawal demands, was taken over by regulators Friday. $62.5 billion in off-balance-sheet loan commitments may have complicated the cash crunch. Insured deposits will be reimbursed by the FDIC. Uninsured depositors will become parties to the coming receivership. SVB Financial Group (NASDAQ: SIVB), looked to the market like a […]
Panic! at the Discount Window: SVB Collapse Tanks Banks
The US banking sector was staggered last week in a reaction to SVB Financial Group (NASDAQ: SIVB), the parent company of Silicon Valley Bank, a California banking enterprise that is exactly what it sounds like, briefly flailing about looking for a liquidity injection, before ultimately entering receivership Friday. The market first caught The Fear when […]
Coinbase Halts Conversions Of USDC To USD Until Monday As Circle Reveals $3.3 Billion Exposure To SVB
Contagion from the shuttering of Silicon Valley Bank (NASDAQ: SIVB) continues to hit the markets, with the latest impact being felt by Circle, whom revealed it had $3.3 billion parked at the now-closed bank. The impact has lead Coinbase Global (NASDAQ: COIN) to halt conversions of the USDC stablecoin to US Dollars for the duration […]
Roku Reveals $487 Million In Cash Is Held At Shuttered Silicon Valley Bank
Roku Inc (NASDAQ: ROKU) evidently is one of the depositors impacted by the implosion of Silicon Valley Bank (NASDAQ: SIVB), which today saw its operations shuttered by the California Department of Financial Protect and Innovation. The company in a Form 8-K filing this evening indicated that it had approximately $487 million in cash held at […]