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Crisis

Meta conducts another round of layoffs. Fresh inflation data shows price increases remain stubborn. And TikTok’s C.E.O. will testify before Congress this week.

https://www.bing.com/th?id=OVFT.hQOBFIInKB2o5kS0EKS2iC&pid=News

The Week in Business: A Banking Crisis

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The New York Times

Joe Biden

President Joe Biden asked Congress on Friday to pass legislation giving financial regulators broad new powers to claw back ill-gotten gains from the executives of failed banks and impose fines for failures.

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Need way to recover bank cash, Biden says

https://www.bing.com/th?id=ODF.OhEt6Dvx6n20-6tYBD8plg&pid=news

Arkansas Democrat-Gazette

Bank

Failure

TheStreet.com

The failure of Silvergate, Silicon Valley Bank and Signature Bank in March led to the FDIC taking over the banks. The majority of the customers of those three banks were entrepreneurs, founders of startups and CEOs of small to medium-sized banks.

SVB Collapse: How Bank Failures Impact Your Money

https://www.bing.com/th?id=ODF.dsVvdYEiGuqZDGlCaqu-ZQ&pid=news

Bank failure

The recent failures of Santa Clara, Calif.-based Silicon Valley Bank and Manhattan-headquartered Signature Bank naturally raise questions about the impact close to home. Simply put, people get nervous when they think they might not be able to access their money.

https://www.bing.com/th?id=OVFT.CWNH0DprRPJEZxavQdHSAy&pid=News

Could it happen in Connecticut? What you need to know about the tech bank failures

https://www.bing.com/th?id=ODF.Pl6pH-s7RSCFK_q4bwgPwQ&pid=news

StamfordAdvocate

Richard Mills

Post-financial crisis regulations sought to limit credit risk by ensuring that banks hold assets that can easily be sold. None fits the bill better than US government bonds. But as The Economist explains: Many years of low inflation and interest rates meant that few considered how the banks would suffer if the world changed and longer-term bonds fell in value.

Hold gold, buy silver

https://www.bing.com/th?id=ODF.iVP1E2uIIpVV-uq1B0YWsA&pid=news

Investor ideas

The crisis is only going to further concentrate the power of big banks in the United States, the opposite of what many believe is in the country's best interest.

https://www.bing.com/th?id=OVFT.VbE71c7Gb5fJ8xx2VjjAUy&pid=News

Silicon Valley Bank

JPMorgan Chase

Big banks may get bigger as crisis swamps ‘too big to fail’ worries

https://www.bing.com/th?id=ODF.JRpbjhQKSgfe9BXmFtAAoA&pid=news

The Washington Post

The move will allow SVB Financial Group “to preserve value as it evaluates strategic alternatives” for venture-capital business SVB Capital and broker-dealer SVB Securities, the company said.

https://www.bing.com/th?id=OVFT.YZrWCwSFQZSkifhCT1AdNC&pid=News

SVB’s parent company files for bankruptcy protection

bankingdive

Economy

The U.S. economic recovery has repeatedly defied predictions of an impending recession, withstanding supply-chain backlogs, labor shortages, global conflicts and the fastest increase in interest rates in decades.

https://www.bing.com/th?id=OVFT.IRNjy2E_8ye0nu98FareKS&pid=News

Banking crisis hangs over economy, rekindling recession fear

https://www.bing.com/th?id=ODF.fpemrnMQqt6geHmUwb0LPQ&pid=news

Seattle Times

Wall Street

America’s smallest lenders are seeing an increase in deposits after the failure of three US banks dented confidence in the stability of the sector. The inflows at community banks — typically tight-knit lenders that serve local businesses and hold $10 billion or less in deposits — came in recent days as consumers witnessed the biggest US bank failure since the financial crisis with Silicon Valley Bank followed by turmoil for regional lenders.

America's Smallest Lenders See Deposit Boost Amid Banking Turmoil On Wall Street

https://www.bing.com/th?id=ODF.7dODrCLmVShl-qyL5i9veA&pid=news

Financial Advisor

Michigan

Bridge

Fallout from Silicon Valley Bank and other banks’ capital crises continues into the second week, raising still more questions about how far the impact will spread. So far, many businesses in Michigan appear unaffected,

https://www.bing.com/th?id=OVFT.BThmjAwL1hpZEFev1OBFli&pid=News

5 things for Michigan to know amid SVB banking crisis

https://www.bing.com/th?id=ODF.9E6wxq92p1Jsr26CzfIpeA&pid=news

Bridge Magazine

Get the most recent info and news about JPMorgan Chase on HackerNoon, where 10k+ technologists publish stories for 4M+ monthly readers.

JPMorgan Chase & Co. operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services. The CIB segment provides investment banking products and services, including corporate strategy and structure advisory, and equity and debt markets capital-raising services, as well as loan origination and syndication; cash management and liquidity solutions; and cash securities and derivative instruments, risk management solutions, prime brokerage, and research. This segment also offers securities services, including custody, fund accounting and administration, and securities lending products for asset managers, insurance companies, and public and private investment funds. The CB segment provides financial solutions, including lending, treasury, investment banking, and asset management to small business, large and midsized corporations, local governments, and nonprofit clients; and commercial real estate banking services to investors, developers, and owners of multifamily, as well as to office, retail, industrial, and affordable housing properties. The AWM segment offers investment and wealth management services across equities, fixed income, alternatives, and money market fund asset classes; multi-asset investment management services; retirement products and services; and brokerage and banking services. The company also provides ATM, online and mobile, and telephone banking services. The company was founded in 1799 and is headquartered in New York, New York.

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