Upon Further Analysis — Archives
-
The SVB Hearings
On March 28 and 29, the Senate and House Banking Committees held hearings on the collapse of Silicon Valley Bank and, to a lesser extent, Signature Bank. The hearings ran a total of seven hours. I watched the hearings, so you don’t have to. Testifying were the Federal Vice Chair for Supervision, Michael Barr, FDIC…
-
THE BANK TERM FUNDING PROGRAM & THE POWELL PUT
Following the failure of Silicon Valley Bank and Signature Bank, the Federal Reserve announced the Bank Term Funding Program. According to the Fed’s press release, the BTFP was created to “support American businesses and households” and to “bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and…
-
INSURING THE UNINSURED AT SVB
The FDIC announced on March 13th that it will fully cover all depositors, insured and uninsured, at the failed Silicon Valley Bank. SVB is the second largest bank to fail in U.S. history. The same rules will apply for depositors of the third largest bank failure in history, Signature Bank. Secretary Yellen and others have…
-
WHAT HAPPENED WITH SILICON VALLEY BANK?
On March 10, 2023, Silicon Valley Bank (SVB) was declared insolvent and taken over the by the FDIC. With total assets of $209 billion and total deposits of $175 billion, this was the largest bank to fail since 2008 and the second largest bank failure of all time. No doubt there will be multiple post-mortems,…
-
Unbelievable
Tall tales from well-known people are not uncommon. What’s notable is that some of these literally unbelievable stories are accepted without question.
-
Why This Blog?
First, a bit about me. I’m a former bank examiner who spent over 35 years in banking regulation from the Federal Home Loan Bank to the Office of Thrift Supervision (OTS), and finally to the Office of the Comptroller of the Currency (OCC). I’ve supervised banks with asset sizes from less than $10 million to…