Published 1 year ago

Government races to reassure US that banking system is safe

Summary by Ground News

Federal Reserve announces it will review its supervision of Silicon Valley Bank. First Republic Bank plunges more than 70% even after saying it was taking emergency funding. Shares of well-known franchises like Charles Schwab, Fifth Third Bank, Truist, Comercia and Ally Financial all fall sharply.

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The Manila Times

Govt reassures US banking system safe

NEW YORK CITY: Depositors withdrew savings and investors broadly sold off bank shares on Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall.

1 year ago·Manila, Philippines

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Arizona Daily Sun

Government races to reassure US that banking system is safe

Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall.

1 year ago

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The Sentinel

Government races to reassure US that banking system is safe

1 year ago·Carlisle, United States

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Reflector

Expert, officials offer assurances that banking system is safe

As the federal government worked to waylay concern of a banking crisis this week after two major banks failed, the interim chair for East Carolina University’s Department of Economics said their closure was a “robustness” check the industry passed.

1 year ago

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hsjchronicle.com

Government races to reassure US that banking system is safe - The Hemet & San Jacinto Chronicle

By KEN SWEET, CHRISTOPHER RUGABER, CHRIS MEGERIAN and CATHY BUSSEWITZ NEW YORK (AP) — Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall. President Joe Biden insisted that the system was safe after the second- and third-largest bank failures in the nation…

1 year ago

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