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Michael Barr, vice chair for supervision at the Federal Reserve, says that SVB’s deposits were in major trouble on the day regulators seized and took control over the bank. Earlier this month, the downfall of the Silicon Valley Bank (SVB) sent shockwaves across the US banking sector. The bank struggled
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On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four
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The United States Senate Banking Committee held a hearing March 28 on the regulatory response to recent bank failures. Officials from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and Treasury testified. FDIC chair Martin Gruenberg spoke about the causes of the failures of Silicon Valley Bank (SVB) and Signature
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Are bitcoin traders shrugging off the CFTC's action against Binance? Or is there just not enough liquidity to go around? Source
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Barr said the bank was a “textbook case of mismanagement.” And its government minders were well aware it had serious problems. In 2021, the supervisors found issues with its liquidity management, and in 2022, they determined an array of problems with board oversight, risk management and internal auditing, Barr said.
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Traders on Binance now set the daily price for BTC with the crypto exchange’s share of trading volume reaching 80%, the report said. Source
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It is expected that Dwpbank’s move will put pressure on other German banks and financial institutions in the country. Deutsche WertpapierService Bank (Dwpbank), has launched a new platform called wpNex. The securities processing giant announced the launch via a recent press release on the new platform. According to the release, wpNex
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Jan Nieuwenhuijs, a gold market analyst, has predicted that gold might exceed prices of $8,000 during the next decade, as the current Ukraine-Russia war, and the worldwide battle against inflation, shift the preference of central banks for foreign currencies to gold. The proposed long-term price model shows that each troy
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Crypto firms setting up in Hong Kong ahead of a new licensing regime for crypto exchanges in June have reportedly found some unexpected allies in the region — Chinese state-owned banks.According to a March 27 report from Bloomberg, Chinese banks including Shanghai Pudong Development Bank, the Bank of Communications Co., and Bank
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Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08 for every dollar
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