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In 2023, Silicon Valley Bank (SVB), a regional bank in California largely serving the tech sector, collapsed with little warning. Within just 48 hours, the bank plunged from a seemingly secure ...
More US regional banks are taking a step that was unthinkable more than a year ago in the aftermath of the Silicon Valley Bank failure: selling underwater bonds at a loss.
"The 2023 situation was another manifestation, another endorsement of the big-bank business model, and really, it's sort of damning for the regional banks with a niche business model," Steven ...
Comerica , a regional bank in Dallas, said its deposits fell 9% during the first three months of the year. Zions ( ZION ), a Salt Lake City lender, said they dropped 3.4%.
Michael Burry, who famously shorted subprime mortgages during the 2008 financial crisis, is making a big new bet on regional banks. His hedge fund Scion Asset Management loaded up on $23.4 million ...
The central bank in March shuttered the Bank Term Funding Program, established after regional banking turmoil last year to help lenders meet their liquidity needs. Sheila Bair, former chair of the ...
A sizable drop in profits at many regional banks in the fourth quarter was a reminder of how challenging 2023 was. The problem is 2024 may not be much better.
Short sellers targeting a key regional U.S. bank exchange-traded fund have made $977 million on paper so far in 2024, data from analytics firm Ortex showed, as troubles at New York Community ...