Tag: banks

According to a recent poll from Gallup, nearly half of Americans are concerned about the safety of their money deposited with banks. Public opinion of banks appears to be dwindling according to an April survey, as the industry struggles to contain the collapse of several high-profile financial institutions in recent months. A Gallup poll conducted across the…

International Monetary Fund Managing Director Kristalina Georgieva says that wholesale CBDCs, on the other hand, have “fairly little space for undesirable surprises.” A myriad of unforeseeable “consequences” will be brought about by retail central bank digital currencies (CBDCs), the managing director of the International Monetary Fund has claimed. The IMF’s Kristalina Georgieva erred on the…

Banking giant JPMorgan will take over the assets of the troubled First Republic Bank after its seizure by the California Department of Financial Protection and Innovation. The American banking giant JPMorgan Chase is set to acquire First Republic Bank’s (FRB) assets after early efforts to rescue it failed. JPMorgan and multiple other banks submitted a…

The chief investment officer of J.P. Morgan Asset Management said it would be “naive to say that this is just limited to First Republic.” An executive at J.P. Morgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Banks (FHLB)…

FDIC blamed SBNY’s board of directors and management for pursuing “unrestrained growth” using uninsured deposits without implementing liquidity risk management strategies. The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse. Signature Bank…

The price of Bitcoin has bounced upwards as First Republic Bank deposit slump sparks fresh banking crisis fears in the United States. The price of Bitcoin (BTC) spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more…