Federal Deposit Insurance Corporation

On March 20th, the US Midsize Banking Alliance sent a letter to the US Treasury, the Federal Deposit Insurance Corporation, the Office of the Comptroller of Currency, and the Federal Reserve, requesting that the insurance coverage of the Federal Deposit Insurance Corporation (FDIC) be extended to all deposits in the next two years, with the relevant costs borne by the banks themselves. In its letter, the organization stated that expanding insurance coverage could immediately prevent a significant outflow of deposits from smaller banks and prevent more bank closures. The organization said that the recent banking turmoil has caused people to lose confidence in all banks except large banks, and it is necessary to immediately restore market confidence in the entire banking system. The US Midsize Banking Alliance requires the FDIC to provide two-year insurance for all deposits Analysis based on this information:The recent banking turmoil brought on by the pandemic has prompted the Midsize Banking Alliance to take action to…

According to reports, the Blockchain Association, one of the cryptocurrency lobbying groups, has sent a Freedom of Information Act (FOIA) request to the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) to provide documents and communications related to cryptocurrency “de banking.”. It is reported that the requirements of the Freedom of Information Act are aimed at uncovering the truth behind the possibility of US cryptocurrency companies going to banking business, including more understanding of the situation where legally compliant cryptocurrency companies may close accounts. The Blockchain Association requires FDIC and the Federal Reserve to disclose documents related to encrypted “de banking” Analysis based on this information:The Blockchain Association, a cryptocurrency lobbying group, has sent a Freedom of Information Act (FOIA) request to three government agencies – the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) – to provide documents and communications related…

On March 16, Cathie Wood, founder of Ark Invest, said on Twitter that the Federal Deposit Insurance Corporation and other institutions would prevent the United States from participating in the most important stage of the Internet revolution, and regulators were using cryptocurrency as a scapegoat for their own regulatory mistakes in the traditional banking industry. Cathie Wood: If cryptocurrency becomes the scapegoat for US policy mistakes, it will be transferred overseas Analysis based on this information:Cathie Wood, founder of Ark Invest, recently took to Twitter to express her concerns regarding the United States’ ability to participate in the most important stage of the Internet revolution. According to Wood, regulatory bodies like the Federal Deposit Insurance Corporation (FDIC) are hindering the country’s progress by using cryptocurrency as a scapegoat for their own regulatory mistakes in the traditional banking industry. The Internet revolution has been long in the making, with various advancements such as artificial intelligence, the Internet of Things, and 5G…

According to reports, U.S. President Biden said that if a bank (such as Silicon Valley Bank or Signature Bank) was taken over by the Federal Deposit Insurance Corporation of the United States, the people who run the bank should no longer work there, and the management of these banks would be dismissed. In addition, Biden also said that the investors of these banks “will not be protected”. The investors took the risks knowingly and lost funds because the risks did not get paid. （theguardian） Biden: The management of Silicon Valley Bank and Signature Bank will be dismissed Analysis based on this information:The recent reports about President Biden’s stance on banks that are taken over by the Federal Deposit Insurance Corporation (FDIC) have stirred a lot of debate and discussion. According to Biden, if the FDIC takes over a bank like Silicon Valley Bank or Signature Bank, the management should no longer work there, and the investors of these banks would…

It is reported that US President Biden delivered a speech on the situation of the banking industry: the rapid action of the government should make Americans believe that the US banking system is safe. The Federal Deposit Insurance Corporation of the United States has controlled the assets of Signature Bank and Silicon Valley Bank. American taxpayers will not bear any losses, and the funds will come from the insurance fund. Congress and regulators will be required to strengthen bank regulatory rules. We will not stop here. We will take all necessary measures. We must prevent this from happening again. It is necessary to conduct comprehensive accounting for what happens in the bank. Biden: We have controlled the assets of signature banks and Silicon Valley banks, and will require the Congress and regulators to strengthen bank supervision rules Analysis based on this information:US President Biden recently addressed the situation of the US banking industry and emphasized the need for rapid government…

On March 12, according to the Financial Times, some depositors of Silicon Valley banks are trying to sell their deposits at a large discount to raise cash. According to the data of Cherokee Acquisition, the quotation of bank deposits in Silicon Valley that are not covered by insurance is between 55% and 65% on the 10th. According to the report, for some start-ups, it is their last resort to sell their deposits at a discount in order to pay their employees’ wages. A number of VCs said that they had contacted some start-ups and hoped to buy their deposits at a certain discount. Data shows that by the end of 2022, 96% of deposits in Silicon Valley banks were not covered by the Federal Deposit Insurance Corporation (FDIC). (CCTV Finance) Some Silicon Valley bank depositors seek to sell deposits at a discount Analysis based on this information:According to a report by the Financial Times, some depositors of Silicon Valley banks…

On March 12, CNBC quoted people familiar with the matter as reporting that a few hours before the takeover of the Federal Deposit Insurance Corporation (FDIC), Silicon Valley Bank (SIVB) issued the year-end bonus to American employees on Friday (March 10) as scheduled. This payment is for the work completed in 2022, and was already being processed a few days before the bank failed. Employees of Silicon Valley Bank received year-end bonus hours before FDIC took over on Friday Analysis based on this information:The ongoing economic turmoil and the looming possibility of bankruptcy in the financial industry have shaken the global markets. In this context, the news that Silicon Valley Bank (SIVB) made year-end bonus payments to their American employees a few hours before the Federal Deposit Insurance Corporation (FDIC) takeover on March 12, comes as a surprise. According to reports from people familiar with the matter, the payment was scheduled on March 10, and it is for the work…

It is reported that the members of the United States Congress met with the Federal Reserve and the Federal Deposit Insurance Corporation to discuss the failure…

It is reported that according to a regulatory document on Friday, investors and savers tried to withdraw $42 billion from Silicon Valley banks on Thursday, whi…

It is reported that Circle, the issuer of stable currency, wrote on social media that Silicon Valley Bank is one of the six banking partners of Circle and is r…

It is reported that the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Cu…