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Signature Bank
Signature Bank was an American full-service commercial bank headquartered in New York City and with 40 private client offices in the states of New York, Connecticut, California, Nevada, and North Carolina. In addition to banking products, specialty national businesses provided services specific to industries such as commercial real estate, private equity, mortgage servicing, and venture banking; subsidiaries of the bank provided equipment financing and investment services. At the end of 2022, the bank had total assets of $110.4 billion and deposits of $82.6 billion; as of 2021, it had loans of $65.25 billion. Signature Bank was founded in 2001 by former executives and employees of Republic National Bank of New York after its purchase by HSBC. It focused on wealthy clients and built personal relationships with them. For most of its history, it had offices only in the New York City area. In the late 2010s, it began to expand geographically and in terms of services, though it wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collapse Of Silicon Valley Bank
On Friday, March 10, 2023, Silicon Valley Bank (SVB) failed after a bank run, marking the second-largest bank failure in United States history and the largest since the 2007–2008 financial crisis. It was one of three March 2023 United States bank failures. Seeking higher investment returns from its burgeoning deposits, SVB had dramatically increased its holdings of long-term securities over 2021, accounting for them on a hold-to-maturity basis. The market value of these bonds decreased significantly through 2022 and into 2023 as the Federal Reserve raised interest rates to curb an inflation surge, causing unrealized losses on the portfolio. Higher interest rates also raised borrowing costs throughout the economy and some Silicon Valley Bank clients started pulling money out to meet their liquidity needs. To raise cash to pay withdrawals by its depositors, SVB announced on Wednesday, March 8 that it had sold over US$21 billion worth of securities, borrowed $15billion, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Interest Margin
Net interest margin (NIM) is a measure of the difference between the interest income generated by banks or other financial institutions and the amount of interest paid out to their lenders (for example, deposits), relative to the amount of their (interest-earning) assets. It is similar to the gross margin (or gross profit margin Profit margin is a measure of profitability. It is calculated by finding the profit as a percentage of the revenue. \text = = There are 3 types of profit margins: gross profit margin, operating profit margin and net profit margin. * Gross Pro ...) of non-financial companies. It is usually expressed as a percentage of what the financial institution earns on loans in a time period and other assets minus the interest paid on borrowed funds divided by the average amount of the assets on which it earned income in that time period (the average earning assets). Net interest margin is similar in concept to net interest spread, but the net interest spread is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crain's New York Business
Crain Communications Inc is an American multi-industry publishing conglomerate based in Detroit, Michigan, United States, with 13 non-US subsidiaries. History Gustavus Dedman (G.D.) Crain, Jr. ( Gustavus Demetrious Crain, Jr.; 1885–1973), previously the city editor of the ''Louisville Herald'' newspaper, founded Crain Communications in Louisville, Kentucky, in 1916, publishing two papers: ''Class'' (which later became ''BtoB'') and ''Hospital Management'' (sold in 1952)."G.D. Crain Jr. Dies at 88; Published Advertising Age" '''', December 17, 1973. The staff moved to Chicago later in 1916. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Hapoalim
Bank Hapoalim ( he, בנק הפועלים lit. ''The Workers' Bank'') is one of Israel's largest banks. History The bank was established in 1921 by the ''Histadrut'', the Israeli trade union congress (lit. "General Federation of Laborers in the Land of Israel") and the Zionist Organisation. The bank was owned by the ''Histadrut'' until 1983, when it was nationalized following the Bank Stock Crisis. The bank was held by the Israeli government until 1996 when it was sold to a group of investors led by Ted Arison. The bank has a significant presence in global financial markets. In Israel, it has over 600 ATMs (automated teller machines), 250 bank branches, 7 regional business centers, 22 business branches and industry desks for major corporate customers. The bank's stock is traded on the Tel Aviv Stock Exchange. At the end of 2015, the bank had 11,930 employees worldwide. It is controlled by Arison Holdings, owned by Shari Arison. Arison Holdings owns a total of 15.74 per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Banker
''American Banker'' is a Manhattan-based trade publication covering the financial services industry. Originally a daily newspaper, the print edition ceased publication in 2016, with an online edition continuing to be updated. The first issue of ''American Banker'' was published in 1885, though it has been considered a continuation of the earlier ''Thompson's Bank Note Reporter'', a bank note reporter which began publication in 1842. Although often confused with the American Bankers Association or other industry trade groups, ''American Banker'' is unaffiliated with any portion of the banking industry. History ''American Banker'' claims descent from ''Thompson's Bank Note Reporter'', a periodical published by John Thompson. For this reason, ''American Banker''s masthead gives a founding date of 1836, though the best available evidence suggests that Johnson's paper began publication in 1842. During the free banking era, ''Thompson's Bank Reporter'' was the most widely read and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Community Bank
New York Community Bancorp, Inc. (NYCB) is a bank headquartered in Westbury, New York with 225 branches in New York, New Jersey, Ohio, Florida and Arizona. NYCB is on the list of largest banks in the United States. Almost all of the loans originated by the bank are either multi-family or commercial loans, many of them are in New York City, and are subject to laws regarding rent control in New York. In late December 2020, the bank announced a change in executive leadership. Longtime President, CEO and board member Joseph Fecaloma announced he would retire from all three posts in two days time. Thomas Cangemi, the company's CFO since 2005, will become president and the CEO. On April 26, 2021, New York Community Bank issued a press release indicating that they were acquiring Flagstar Bank in an all stock strategic merger. On December 1st, 2022, New York Community Bank formally acquired Flagstar Bank. Divisions New York Community Bank operates branches under the following name ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bridge Bank
A bridge bank is an institution created by a national regulator or central bank to operate a failed bank until a buyer can be found. While national laws vary, the bridge bank is usually established by a publicly backed deposit insurance organisation or financial regulator and may be instituted to avoid systemic risk and provide an orderly transition avoiding negative effects such as bank runs. Typically, the tasks of a bridge bank are to ensure seamless continuity of banking operations by: * Assuming the deposits of and honouring the commitments of the failed bank, so that service to retail clients is not disrupted * Servicing adequately secured existing loans to avoid their premature interruption or termination * Assuming other existing assets, liabilities or functions of the defunct bank at the discretion of the regulator These tasks are carried out on a temporary basis (usually for no more than two or three years) to provide time to find a buyer for the bank as a going conce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In US law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. In UK law the common law definition is wider. The act is defined as "taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that property is the proceeds of a crime or obscure the beneficial ownership of said property". In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Offic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Justice
The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States government tasked with the enforcement of federal law and administration of justice in the United States. It is equivalent to the justice or interior ministries of other countries. The department is headed by the U.S. attorney general, who reports directly to the president of the United States and is a member of the president's Cabinet. The current attorney general is Merrick Garland, who was sworn in on March 11, 2021. The modern incarnation of the Justice Department was formed in 1870 during the Ulysses S. Grant presidency. The department comprises federal law enforcement agencies, including the Federal Bureau of Investigation, the U.S. Marshals Service, the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Drug Enforcement Administration, and the Federal Bureau of Prisons. It also has eight major divisions of lawyers who rep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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