From: zerohedge Fed Announces Launch Of ‘FedNow’ Real-Time Payment System, Sparking Debate | ZeroHedge The Federal Reserve has announced a timeline for the launch of its long-awaited FedNow payment service that will let banks offer customers instantly available funds and execute real-time payments, with critics flagging concerns like lack of cross-border payment processing and raising […]

From: zerohedge Get Woke, Go Broke? It’s Time To Talk About SVB’s Ties To The World Economic Forum | ZeroHedge After the implosion of the FTX crypto exchange run by Sam Bankman Fried, questions of due diligence and competency immediately arose, suggesting that perhaps the company mishandled assets “accidentally” and that Fried was naive and […]

From: zerohedge The Bank Crisis Has Democrats Scrambling Behind The Scenes To Find A Scapegoat | ZeroHedge Democratic representatives are scrambling in the wake of the potentially contagious Silicon Valley Bank implosion, looking for a way to divert attention away from them should the crisis expand.   One avenue for scapegoating the event that has […]

From: zerohedge Fed Panics: Signature Bank Closed By Regulators; Fed, TSY, FDIC Announce Another Banking System Bailout | ZeroHedge 6:20pm ET Update: On Friday, we said that the Fed will have to make an announcement before the Monday open, and we didn’t have to wait that long: in fact, the Fed waited just 15 minutes […]

From: zerohedge Fatal Distraction? Senior SVB Risk Manager Oversaw Woke LGBT Programs | ZeroHedge While Silicon Valley Bank careened toward its spectacular collapse, the bank’s head of risk management for Europe, Africa and the Middle East devoted a chunk of her time to various LGBTQ+ programs.  Meanwhile, SVB went without a chief risk officer (CRO) from April […]

From: zerohedge “Never Seen In Over 40 Years” – SVB Collapse Sparks Bank Runs As People Wait In Lines | ZeroHedge Friday morning’s seizure of Silicon Valley Bank by the Federal Deposit Insurance Corporation (FDIC) underscores the banking sector’s vulnerability, exposing the Federal Reserve’s lack of foresight in combating inflation through aggressive interest rate hikes […]

From: zerohedge Yellen Says Government Will Help SVB Depositors But “No Bailout” As Fed, FDIC “Hope” Talk Of Special Vehicle Prevents More Bank Runs | ZeroHedge With just hours left until futures open for trading late on Sunday afternoon, the situation remains extremely fluid and for now it appears that regulators, central bankers and treasury […]

From: zerohedge USDC ‘Stablecoin’ Breaks Peg As Circle Admits Billions Stuck With SVB | ZeroHedge Yesterday afternoon, after the equity market close, USD Coin (USDC) issuer Circle revealed that $3.3 billion of its $40 billion reserves were tied up in now-failed Silicon Valley Bank (SVB). Specifically, on March 9, Circle initiated a wire transfer to […]

From: zerohedge Game Over: FDIC Shutters Silicon Valley Bank, Appoints Receiver | ZeroHedge Update (1135ET):  Game over for Silicon Valley bank. *FDIC: SVB BANK CLOSED BY CALIFORNIA REGULATOR *FDIC: SVB BANK IS FIRST INSURED INSTITUTION TO FAIL THIS YEAR *FDIC CREATES A DEPOSIT INSURANCE NATIONAL BANK OF SANTA CLARA *FDIC: NAMED FEDERAL DEPOSIT INSURANCE FDIC […]