First Citizens Bank buying SVB's deposits and loans, FDIC says
Silicon Valley Bank failed earlier this month after a sudden run on deposits, prompting regulators to seize control and sparking global fears about the sector.
Watch CBS News
Silicon Valley Bank failed earlier this month after a sudden run on deposits, prompting regulators to seize control and sparking global fears about the sector.
Signature Bank's collapse is considered the third-largest bank failure in U.S. history.
Officials announced the takeover on Sunday, after shares of Credit Suisse plummeted last week despite a $54 billion loan from the Swiss National Bank.
Warren told "Face the Nation" that lifting the FDIC insurance cap is a "good move."
The collapse of Silicon Valley Bank is triggering new worries about worldwide financial trouble. Overseas, Credit Suisse's troubles rattled financial markets. CBS2's Dick Brennan reports.
Swiss central bank promised to back Credit Suisse, which sparked investor panic with record losses and financial reporting errors.
Caution is emerging about the health of some regional banks in the wake of the collapse of Silicon Valley Bank (SVB), with Moody's flagging several financial institutions that share some risk factors with the failed bank. CBS2's Jessica Moore reports.
Customers and investors are scrutinizing fiscal health of smaller banks that may share some similar risks to SVB.
President Biden assured the public on Monday that their money is safe. CBS2's Maurice Dubois has more on the fall of Silicon Valley Bank and New York's Signature Bank.
Bill Isaac joined CBS2's Natalie Duddridge to discuss the problems faced by Silicon Valley Bank and New York's Signature Bank.
Many customers were startups and small businesses, panicking to figure out how to pay their employees after their money seemed to vanish overnight.
President Biden addressed the nation on Monday about the government's response to the failure of Silicon Valley Bank in California and Signature Bank in New York. He said the overall banking system remains sound and taxpayers will not bear the costs. Tony Dokoupil anchored a CBS News Special Report with reporting and analysis from Weijia Jiang at the White House, Errol Barnett outside Silicon Valley Bank's headquarters in Santa Clara, California, and business analyst Jill Schlesinger.
The Signature Bank failure came on the heels of the 2nd biggest bank failure in U.S. history, Silicon Valley Bank.
Federal officials said Silicon Valley Bank and Signature Bank are not receiving taxpayer-funded bailouts.
Depositors at both banks will be able to access their money Monday, despite the banks being closed, CBS2's Elijah Westbrook reports.
Signature has offices throughout New York and Connecticut. CBS2's Lisa Rozner has more on how the feds are responding to protect deposits.
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.
The bank's meltdown, sparked by a massive surge of withdrawals, has left depositors worried they may not see their money again. CBS2's Cristian Benavides has the story.
There's more fallout after tech lender Silicon Valley Bank collapsed Friday. Willie James Inman reports for CBS2.
There's more fallout after tech lender Silicon Valley Bank collapsed Friday. It failed to raise enough money to end its capital crisis, and now companies like Etsy are feeling the impact. Cristian Benavides reports for CBS2.
Across the Atlantic, startup companies woke up Saturday to find that Silicon Valley Bank's U.K. business will stop making payments or accepting deposits.
Giancarlo Stanton hit a tying double in the ninth inning and Anthony Rizzo followed with a game-winning single to give the New York Yankees a 2-1 victory over the Detroit Tigers.
Johnny DeLuca had three RBIs in his season debut after being sidelined by a broken right hand and the Tampa Bay Rays beat the New York Mets 10-8.
A special general election will be held in New Jersey in September to fill the House of Representatives seat left vacant by late Rep. Donald Payne Jr.
A wandering pony was found trotting along the streets of Westchester County early Friday morning. He was eventually caught by police, but then came another tricky part -- finding the owner.
Millions of stamps designed by Brooklyn artist, Kim Parker, are decorating postage envelopes nationwide.
A wandering pony was found trotting along the streets of Westchester County early Friday morning. He was eventually caught by police, but then came another tricky part -- finding the owner.
Millions of stamps designed by Brooklyn artist, Kim Parker, are decorating postage envelopes nationwide.
"Swans of Harlem" tells the story of five ballerinas in the early days of Dance Theatre of Harlem.
Newly released body camera footage shows the moments NYPD officers shot and killed 19-year-old Queens resident Win Rozario in March.
The Five Boro Bike Tour returns to New York City on Sunday, which means street closures citywide.
The I-95 overpass in Norwalk, Connecticut that was compromised when a tanker truck crashed and burst into flames is being demolished, but the highway remains closed.
Interstate 95 in Norwalk, Connecticut is closed in both directions after a fuel truck crashed and burst into flames Thursday morning.
We're in for a taste of summer this afternoon, with highs in the mid-to-upper 80s inland. We're also tracking some isolated thunderstorms.
Temperatures will be off to the races on Sunday, but there is a chance of scattered thunderstorms in the evening.
CBS New York's Vanessa Murdock looks back at historic tornado outbreaks, which highlight the fact that we don't have to be in the thick of severe weather season to witness a touchdown.
A special general election will be held in New Jersey in September to fill the House of Representatives seat left vacant by late Rep. Donald Payne Jr.
A house explosion in South River, N.J. left one person dead and another critically injured Tuesday night. Investigators are trying to figure out what may have caused the explosion.
At least one person was killed and another was injured in a house explosion in New Jersey on Thursday evening.
A New Jersey teenager says making music helps bring him to a better place as he fights cancer.
Rutgers University-New Brunswick protesters began taking down their encampment just after 4 p.m. on Thursday.
The controversial New York City congestion pricing tolls set to start June 30 are facing another lawsuit, this time from Long Island.
Isis Navarro Reyes, of New York, allegedly posted TikTok videos marketing weight loss drugs that appeared to be Ozempic, Mesofrance and Axcion.
The suspect in a Long Island car crash that killed one man and three children in August 2023 has agreed to a plea deal.
The Antisemitism Awareness Act is designed to make it easier for concerned students to file civil rights complaints
To counter congestion pricing, a 10% discount has been approved for LIRR, Metro-North riders who buy monthly passes.
A special general election will be held in New Jersey in September to fill the House of Representatives seat left vacant by late Rep. Donald Payne Jr.
Hope Hicks, one of former President Donald Trump's closest aides for years, told jurors how she handled the fallout from "hush money" payments made to two women before the 2016 election.
President Biden awarded the Presidential Medal of Freedom, the nation's highest civilian honor, to 19 recipients.
The controversial New York City congestion pricing tolls set to start June 30 are facing another lawsuit, this time from Long Island.
Rep. Donald Payne Jr. was remembered as "a true hero to the people of New Jersey" at his funeral Thursday in Newark.
A New Jersey teenager says making music helps bring him to a better place as he fights cancer.
Dutch medical device maker Philips says it's reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that's rocked the company.
Vicky Dennis went to the hospital with strange symptoms when she had COVID. Doctors found she had two undiagnosed, life-threatening diseases and needed a liver transplant to survive.
Joel Embiid has been experiencing Bell's palsy symptoms, he said after Philadelphia's 125-114 win over the New York Knicks.
A New Jersey woman has received a first-of-its-kind transplant using a modified pig kidney along with a heart pump.
Prosecutors asked for a September retrial for Harvey Weinstein.
See who's nominated for the 77th annual Tony Awards. The Tonys will air live on CBS and Paramount+ on Sunday, June 16.
Paramount said long-time CEO Bob Bakish will leave the company, which is in discussions to explore a sale or merger.
Actor Lillo Brancato says problems with drugs led to him going from Hollywood up and comer to behind bars.
Lawyers for Sean "Diddy" Combs are asking a New York court to throw out portions of a sexual assault lawsuit filed against the rapper and media mogul.
Giancarlo Stanton hit a tying double in the ninth inning and Anthony Rizzo followed with a game-winning single to give the New York Yankees a 2-1 victory over the Detroit Tigers.
Johnny DeLuca had three RBIs in his season debut after being sidelined by a broken right hand and the Tampa Bay Rays beat the New York Mets 10-8.
Josh Hart made a go-ahead 3-pointer from the top of the arc with 24.4 seconds left, and the New York Knicks beat the Philadelphia 76ers 118-115 in Game 6 to advance to the Eastern Conference semifinals.
Ryan Mountcastle and Jorge Mateo each homered and drove in two runs to lift Baltimore to a series-deciding victory over the Yankees.
Francisco Lindor delivered a pair of two-run doubles off the bench, including the game-winner, in the Mets' walk-off win against the Cubs at Citi Field.
Millions of stamps designed by Brooklyn artist, Kim Parker, are decorating postage envelopes nationwide.
"Swans of Harlem" tells the story of five ballerinas in the early days of Dance Theatre of Harlem.
In light of budget cuts to New York City's public library systems, a Park Slope man decided to launch a fundraiser to support the Brooklyn Public Library.
CBS New York's Elle McLogan spoke with 90-year-old Sylvia Hack about her decades of service to her neighborhood.
Three middle school girls are co-champions after winning the Under 14 division at the National Girls Chess Championship.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
A crane went up in flames high above Manhattan, then partially collapsed onto the street below.
CBS New York's Lonnie Quinn has your First Alert Forecast for May 3 at 11 p.m.
Pro-Palestinian protests continued across New York City on Friday. Here are the latest details about demonstrations at local schools and throughout the city.
Relatives of a man shot and killed by police say it didn't have to end that way, but the NYPD says the officers were left with no other choice. CBS New York's Ali Bauman talked to mental health advocates and law enforcement experts about the new body camera video released Friday.
Crews race to remove a damaged bridge on I-95 in Connecticut by the end of the weekend. CBS New York's Lori Bordonaro has a look at the progress in Norwalk.
A pony was spotted trotting through the streets of Westchester County on Friday. Police finally caught up to him, but as CBS New York's Dave Carlin reports, the tricky part was finding the pony's owner.
