deposit
Patrick T. Fallon/AFP/Getty Images A customer uses an ATM outside of a Bank of America branch New York CNN — Multiple US banks were hit by deposit delays on Friday caused by an error at a payment processing network, according to the Federal Reserve. Banks stressed that customer deposits remain safe, and the bug was […]
Bank failures are bad. Being unprepared for them is worse. In Canada and dozens of other countries, deposit insurance protects people’s money — up to a certain dollar value — when the worst happens and aims to provide financial stability. Three times this year, the United States has seen deposit insurance in action, when mid-size banks have failed — […]
When Silicon Valley Bank and Signature Bank failed in March, the Treasury, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC), invoking a provision of law that applies when they determine the financial system is at risk, covered billions of dollars in deposits that were above the $250,000 legal ceiling on deposit insurance. That led to speculation […]
May 1 (Reuters) – A key U.S. banking regulator is set to publish a comprehensive overview of the federal deposit insurance system on Monday, teeing up fresh debate about whether the government should expand protections on bank deposits – and if so, by how much. The review will be the third report issued in the […]
The collapse of two US banks last month has led to a flight of capital from small regional banks as investors turned to bigger banks in search of security. Deposits at three United States financial institutions fell in the first quarter as the industry’s biggest crisis in more than 10 years prompted a flight of […]
March 31 (Reuters) – Deposits at all U.S. commercial banks fell in the week ended March 22 to their lowest since August, but at a slower rate than the week before, and stabilized at small lenders seen as more vulnerable to outflows after the failure of Silicon Valley Bank. Data released on Friday by the […]
WASHINGTON, March 20 (Reuters) – Hardline Republicans in the House of Representatives on Monday vowed to oppose any universal federal guarantee on bank deposits above the current $250,000 limit, throwing a major roadblock to a key tool regulators could deploy if bank runs re-emerge as financial confidence wobbles. The Republican House Freedom Caucus said in […]
US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis. Treasury Department staff are reviewing whether federal regulators have enough emergency authority to temporarily insure deposits greater than the […]
WASHINGTON, March 19 (Reuters) – U.S. bank deposits have stabilized, with outflows slowing or stopping and in some cases reversing, a U.S. official said on Sunday, adding the problems of Credit Suisse are unrelated to recent deposit runs on U.S. banks. After officials in Switzerland
The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023. Al Drago | Bloomberg | Getty Images Four prominent U.S. lawmakers on banking matters said on Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis marked by a […]