First Citizens Bancshares Inc., FCNCB 1.85% one of the nation’s largest regional banks, is buying big chunks of Silicon Valley Bank more than two weeks after the lender’s meltdown rocked the banking system. The Federal Deposit Insurance Corp. said First Citizens FCNCB 1.85% acquires all deposits, loans and branches of Silicon Valley Bank, which will … Read more
Text size US consumer and housing market data, as well as several notable earnings reports, will be the highlights this week. Barring any surprises, congressional testimony from federal financial regulators will be the main event on the banking front. On Wednesday, Fed Vice Chairman Michael Barr and Federal Deposit Insurance Corp. Chairman Martin Gruenberg are … Read more
Text size A rear-drive Tesla Model 3 costs around $43,000 to start. Allison Dinner/Getty Images Automakers loved it when the US government rolled out its $7,500 tax credit for people who buy electric vehicles. Now the sector may not be so sure how it feels. Thursday, EV press briefing Electrekciting people familiar with the matter, … Read more
Text size The market value of US Treasury securities has fallen from a peak of 108% in the economy to its current value of 85%, writes David Beckworth. Win McNamee/Getty Images About the Author: David Beckworth is a Senior Fellow at the Mercatus Center at George Mason University and a former international economist at the … Read more
Text size First Republic shares closed down 47% in Monday trading. The stock is now down more than 90% so far in March. Eric Thayer/Bloomberg Shares of Bank of the First Republic are still in freefall even after the banking industry provided the lender with billions of dollars in cash. That money could be enough … Read more
The Federal Reserve will meet on Wednesday and, for once, the outcome is unclear. This is the most uncertain Fed meeting since 2008, said Jim Bianco, president of Bianco Research. Fed officials, starting with former Chairman Ben Bernanke, have perfected the art of having the market price in what the central bank will do – … Read more
US policymakers watched with suspicion the hasty rescue of Credit Suisse CS -6.94% Group AG this weekend, hoping that its takeover by UBS Group HER stem a fall in financial stocks triggered by the recent failure of two regional banks. Late Sunday, the Fed and five major central banks announced a coordinated effort to improve … Read more
One option would be to buy all of Credit Suisse and then turn its local Swiss operations into an independent entity, the sources said. UBS would retain Credit Suisse’s valuable wealth management business. Discussions are ongoing and the contours of the deal could still change as UBS and Swiss regulators flesh out the details of … Read more
Dear Marketwatch, I am 38 years old and I wonder if I will ever be able to retire. In 2020, I bought a house for $649,000 with a 25% down payment. In 2022 I sold it for $1.3 million, took that money and reduced the cash payment. My total monthly housing expenses are still $1,500 … Read more
The deal could be completed on Sunday if not earlier, the people said. Regulators have offered to waive the usual shareholder voting requirement to speed up the sale, one of the people said. Discussions were quick and a remaining sticking point was the ownership status of the major Swiss retail arm of Credit Suisse, the … Read more