Who pays for bank failures like SVB and Signature?
The Federal Deposit Insurance Corp will shoulder the immediate cost, but bank customers could see higher fees later.
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The Federal Deposit Insurance Corp will shoulder the immediate cost, but bank customers could see higher fees later.
The San Francisco regional bank's stock had plunged by a third on Thursday on concerns about its financial stability.
The two banks suddenly collapsed last week, but the federal government quickly said that depositors would not lose their money.
"Americans can feel confident that their deposits will be there when they need them," the treasury secretary is expected to tell Congress Thursday.
Social media and online banking have made lenders more vulnerable to digital bank runs, experts say.
Following the collapse of Silicon Valley Bank and regional banking fears, larger U.S. banks have seen an increase in new depositors looking to secure their money. Stephen Gandel, U.S. banking correspondent at The Financial Times, joins CBS News to discuss the fallout and how major U.S. banks are responding.
Shares of the financial giant had sunk to an all-time low, fueling further concerns about the stability of other big banks.
"Credit Suisse is not just a Swiss problem but a global one," one Wall Street analyst said after the bank's shares tumbled.
Swiss central bank promised to back Credit Suisse, which sparked investor panic with record losses and financial reporting errors.
After a frenetic weekend, policymakers took the audacious step of guaranteeing all deposits of the failed Silicon Valley Bank.
Some bank customers are fretting over whether their cash is secure after the failure of Silicon Valley Bank. .
Abrupt closure of two banks sent shockwaves across the sector and raises concerns about the stability of regional lenders.
Worried about the FDIC's $250,000 insurance cap? Read on to learn about different ways to safeguard your cash.
Fed "stuck between a rock and a hard place" as it must now decide if the banking system can handle more interest-rate hikes.
Customers and investors are scrutinizing fiscal health of smaller banks that may share some similar risks to SVB.
Regional bank shares are recovering after heavy losses on Monday stemming from the collapse of Silicon Valley Bank.
Federal law enforcement officials on Tuesday confirmed an investigation into the bank's collapse, and the probe is said to be in its early stages.
"We had a situation where people got scared about a bank's ability to return depositors' money and depositors wanted their money out," he said.
Trading halted at more than a dozen regional banks after prices continued to free fall.
Biden administration officials announced a series of emergency moves to reassure the public of the soundness of the financial system.
Andie Swim was among the bank's customers and the owner tells CBS News that she was "panicked and flustered," upon hearing the news of the bank's closing.
From fintech firms to swimwear startups and winemakers, these companies are affected by SVB's collapse.
The stocks of other regional banks, including Zions, Pacific West and Western Alliance, also took a beating.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
All depositors will be made whole, the Federal Reserve, Treasury Department and FDIC said Sunday in a joint statement.