THE Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the US seeks to stave off a deeper crisis after SVB Financial Group’s failure.
BANKS are in talks with the UK Treasury about a potential plan to take on depositors from SVB Financial Group’s British arm in a bid to avoid widescale disruption in the tech sector and to try to calm markets.
TRADERS are steeling themselves for the risk of more turbulence after the biggest US bank collapse since the 2008 financial crisis sent shockwaves through markets.
AS A player in the non-destructive testing (NDT) space, Singapore-based A-Star Testing & Inspection (Asti) relies on a pool of over 300 technicians and inspectors to inspect pipelines, tanks and marine infrastructure for major oil and gas companies.
US TREASURY Secretary Janet Yellen on Sunday (Mar 12) said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank (SVB) and protect depositors, but a major bailout was not being considered.
CRYPTO’S second-largest stablecoin rebounded toward its intended US$1 dollar peg as issuer Circle Internet Financial pledged to cover any shortfall in US$3.3 billion of reverses held at collapsed Silicon Valley Bank.
CRYPTO’S second-largest stablecoin rebounded towards its intended US$1 dollar peg, as issuer Circle Internet Financial pledged to cover any shortfall in US$3.3 billion of reverses held at collapsed Silicon Valley Bank (SVB).
THE surprisingly rapid implosion of Silicon Valley Bank (SVB) has markets jittery over a potential sign of widespread turmoil, but analysts see only a limited risk of financial contagion.
SILICON Valley Bank (SVB) chief executive officer Greg Becker sold US$3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure.
