Mit einem erneuten Zinssprung um 0,25 Prozentpunkte liegt dieser nun in der Spanne von 5,0 bis 5,25 Prozent, wie die Federal Reserve am Mittwoch mitteilte. Das ist der höchste Wert seit 2007 – also vor Beginn der weltweiten Finanzkrise.
Damit hat der jüngste Bankenkollaps in den USA – der Zusammenbruch der First Republic Bank – die Fed nicht davon abgehalten, weiter leicht an der Zinsschraube zu drehen.
Ultimately the problem stems from an over-financialized economy. Finance is supposed to serve production, not replace it. We need to reinvest in the productive base: infrastructure, labor, health, social, and natural capital. #Kennedy24
Sen. Elizabeth Warren (D-Mass.), a fierce critic of big banks, emphasized that the FDIC bailout of First Republic once again puts taxpayer money on the line. That’s after $25 billion was used from the Treasury’s Exchange Stabilization Fund to backstop a loan for the rescue of depositors at Silicon Valley Bank in March.
(May 1, 2023)
The government’s takeover and sale of First Republic comes roughly eight weeks after the government took control of Silicon Valley Bank and Signature Bank, whose failures sent a shock wave through the industry and raised fears that other regional banks were at risk of similar runs on deposits.
(April 29, 2023)
Separately, the Wall Street Journal reported on Friday that JPMorgan and PNC are vying to buy First Republic following its seizure by the government, which could come as soon as this weekend.
If the San Francisco-based lender falls into receivership, it would be the third U.S. bank to collapse since March. First Republic said this week its deposits had slumped by more than $100 billion in the first quarter.
(April 4, 2023)
The insider sales went largely unnoticed because Signature Bank, unlike most other S&P 500 companies, filed documents with the Federal Deposit Insurance Corporation instead of the Securities and Exchange Commission. (…)
The bank collapsed and was taken over by federal regulators last month, in the wake of Silicon Valley Bank’s collapse.