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March 2023 United States Bank Failures
Over the course of five days in March 2023, three small- to mid-size U.S. banks failed, triggering a sharp decline in global bank stock prices and swift response by regulators to prevent potential global contagion. Silvergate Bank and Signature Bank, both with significant exposure to cryptocurrency, failed in the midst of turbulence in that market. Silicon Valley Bank failed when a bank run was triggered after it sold its Treasury bond portfolio at a large loss, causing depositor concerns about the bank's liquidity. The bonds had lost significant value as market interest rates rose after the bank had shifted its portfolio to longer-maturity bonds. The bank's clientele was primarily technology companies and wealthy individuals holding large deposits, but balances exceeding $250,000 were not insured by the Federal Deposit Insurance Corporation. In response to the bank failures, the three major U.S. federal bank regulators announced in a joint communiqué that extraordinary mea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fed Funds, One- Five- Ten-year Treasury Rates
Fed, The Fed or FED may refer to: People * Andrey A. Fedorov (1908–1987), Soviet Russian biologist, author abbreviation * Feds, a slang term for a police officer in several countries * John Fedorowicz (born 1958), American International Grandmaster of chess also called "The Fed". * Roger Federer (born 1981), Swiss tennis player sometimes referred to as "Fed". Other uses * Front-end web development * ''Fed'' (album), a 2002 album by American musician Liam Hayes * FED (camera), a Soviet rangefinder camera * "Fed" (''Law & Order''), episode of the television series ''Law & Order'' * ''The Fed'' (newspaper), a student newspaper published at Columbia University * Federal government of the United States, the national branch of government in the United States * Federal Reserve, the central banking system of the United States, or one of its regional banks (e.g., the "Boston Fed") * Field emission display, a type of flat panel display * Fort Edward station, New York, United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Agency
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity. These are customarily set up to strengthen safety and standards, and/or to protect consumers in markets where there is a lack of effective competition. Examples of regulatory agencies that enforce standards include the Food and Drug Administration in the United States and the Medicines and Healthcare products Regulatory Agency in the United Kingdom; and, in the case of economic regulation, the Office of Gas and Electricity Markets and the Telecom Regulatory Authority in India. Legislative basis Regulatory agencies are generally a part of the executive branch of the government and have statutory authority to perform their functions with oversight from the legislative branch. Their actions are often open to legal review. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero Interest-rate Policy
Zero interest-rate policy (ZIRP) is a macroeconomic concept describing conditions with a very low nominal interest rate, such as those in contemporary Japan and in the United States from December 2008 through December 2015. ZIRP is considered to be an unconventional monetary policy instrument and can be associated with slow economic growth, deflation and deleverage. Overview Under ZIRP, the central bank maintains a 0% nominal interest rate. The ZIRP is an important milestone in monetary policy because the central bank is typically no longer able to reduce nominal interest rates. ZIRP is very closely related to the problem of a liquidity trap, where nominal interest rates cannot adjust downward at a time when savings exceed investment. However, some economists—such as market monetarists—believe that unconventional monetary policy such as quantitative easing can be effective at the zero lower bound. Others argue that when monetary policy is already used to the maximal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, reality shows, and other programs at all other times. Along with Fox Business and Bloomberg Television, it is one of the three major business news channels. It also operates a website and mobile apps, whereby users can watch the channel via streaming media, and which provide some content that is only accessible to paid subscribers. CNBC content is available on demand on smart speakers including Amazon Echo devices with Amazon Alexa, Google Home and app devices with Google Assistant, and on Apple Siri voice interfaces including iPhones. Many CNBC TV shows are available as podcasts for on-demand listening. Graphics are designed by Sweden-based Magoo 3D studios. CNBC is a divisi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discount Window
The discount window is an instrument of monetary policy (usually controlled by central banks) that allows eligible institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity caused by internal or external disruptions. The term originated with the practice of sending a bank representative to a reserve bank teller window when a bank needed to borrow money. The interest rate charged on such loans by a central bank is called the discount rate, policy rate, base rate, or repo rate, and is separate and distinct from the prime rate. It is also not the same thing as the federal funds rate or its equivalents in other currencies, which determine the rate at which banks lend money to ''each other''. In recent years, the discount rate has been approximately a percentage point above the federal funds rate (see Lombard credit). Because of this, it is a relatively unimportant factor in the control of the money supply and is only t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Hill (newspaper)
''The Hill'' is an American newspaper and digital media company based in Washington, D.C. that was founded in 1994. Focusing on politics, policy, business and international relations, ''The Hill''s coverage includes the U.S. Congress, the presidency and executive branch, and election campaigns. ''The Hill'' describes its output as "nonpartisan reporting on the inner workings of Government and the nexus of politics and business". The company's primary outlet is TheHill.com. ''The Hill'' is additionally distributed in print for free around Washington, D.C. and distributed to all congressional offices. It is owned by Nexstar Media Group. History Founding and early years The company was founded as a newspaper in 1994 by Democratic power broker and New York businessman Jerry Finkelstein, and Martin Tolchin, a former correspondent for ''The New York Times''. New York Representative Gary L. Ackerman was also a major shareholder. The name of the publication alludes to " Capitol Hill" a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Republic Bank
First Republic Bank is an American full-service bank and wealth management company offering personal banking, business banking, trust, and wealth management services, catering to low-risk, high net-worth clientele, and focusing on providing personalized customer experience. The bank specializes in delivering personalized relationship-based service through preferred banking or trust offices in the United States, including San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Palm Beach, Boston, Greenwich, New York City, Jackson, Wyoming, Manhattan Beach, and Bellevue. First Republic offers wealth management services through First Republic Wealth Advisors and First Republic Investment Management. Brokerage services are provided through First Republic Securities Company LLC and Trust services are provided through First Republic Trust Company. Corporate history Changes in ownership First Republic began operations on July 1, 1985, as a Califor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Crisis
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss National Bank
The Swiss National Bank (SNB; german: Schweizerische Nationalbank; french: Banque nationale suisse; it, Banca nazionale svizzera; rm, Banca naziunala svizra) is the central bank of Switzerland, responsible for the nation's monetary policy and the sole issuer of Swiss franc banknotes. The primary goal of its mandate is to ensure price stability, while taking economic developments into consideration. The SNB is an ''Aktiengesellschaft'' under special regulations and has two head offices, one in Bern and the other in Zurich. History The bank formed as a result of the need for a reduction in the number of commercial banks issuing banknotes, which numbered 53 sometime after 1826. In the 1874 revision of the Federal Constitution it was given the task to oversee laws concerning the issuing of banknotes. In 1891, the Federal Constitution was revised again to entrust the Confederation with sole rights to issue banknotes. The Swiss National Bank was founded under the law of 6 Octob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks. The Governing Council of the European Central Bank, ECB Governing Council makes the projects for the monetary policy for the European Union with suggestions and recommendations and to the Eurozone with more direct applications of such policies, it also administers the foreign exchange reserves of EU member states in the Eurozone, engages in foreign exchange operations, and defines the intermediate monetary aims and objectives, and also the common interest rates for the EU. The Executive Board of the European Central Bank, ECB Executive Board makes policies and decisions of the Governing Council, and may give direction to the national central banks, especially when doing so for the Eurozone central ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
