The Federal Reserve’s Bank Term Funding Program (BTFP) will sunset as planned on March 11, ending a program that helped calm the markets after last year’s collapses of Silicon Valley Bank and Signature Bank threatened a...more
Federal regulators are strongly considering requiring regional and mid-sized banks to issue billions of dollars in long-term debt to guard against more bank failures.
This onerous requirement will be difficult and costly...more
The past week delivered three major shocks to the financial and tech worlds: first, the March 8 failure of Silvergate Bank; second, the sudden, March 10 failure of Silicon Valley Bank (“SVB”); and third, the weekend collapse...more
Let this serve as yet another reminder that the end of the London Interbank Offered Rate (LIBOR) is fast approaching. Time is now running short, as all remaining LIBOR tenors are set to expire on June 30, 2023. With 3+ months...more