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Banking Sector Deposit Accounts Depository Institutions

Troutman Pepper Locke

Deposit Account Litigation: Highlights From 2024 and What to Expect in 2025 — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Mary Zinsner and Heryka Knoespel, partners in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss the latest in deposit...more

Venable LLP

Custody Battles: The FDIC's Latest Proposed Rule on FBO Accounts

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The FDIC has issued a proposed rule that would apply to practically all bank-fintech arrangements that use custodial deposit accounts to provide customers with transactional features (also called "FBO" accounts for short)....more

Morgan Lewis - All Things FinReg

Increased Scrutiny of Uninsured Deposits Continues: FDIC Reminds IDIs of Uninsured Deposit Reporting Obligations

The Federal Deposit Insurance Corporation (FDIC) continued the focus shown over the last several months, and especially since the March 2023 failure of Silicon Valley Bank (SVB) and associated events, by the federal banking...more

Goodwin

FDIC Pass-Through Coverage

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Since the failure of Silicon Valley Bank in March of this year, there has been a renewed focus on Federal Deposit Insurance Corporation (FDIC) deposit insurance coverage, including arrangements that provide so-called...more

Morgan Lewis

Common Cash Management Practices and Associated Protections and Risks

Morgan Lewis on

In the wake of the Silicon Valley Bank and Signature Bank defaults, it is important for bank customers to understand the common cash management options and accounts available in financial institutions as well as their...more

Spilman Thomas & Battle, PLLC

FDIC and Deposit Limits – Where Do Things Stand Now

The Federal Deposit Insurance Corporation (“FDIC”) guarantees bank deposits of up to $250,000. Following the failure of two banks in recent weeks, regulators created some confusion among the industry and the public when they...more

UB Greensfelder LLP

Are My Bank Deposits Insured by the FDIC?

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With the recent failures of Silicon Valley Bank on March 10, 2023, and Signature Bank on March 12, 2023, clients are asking whether their bank deposits are protected by Federal Deposit Insurance Corporation (FDIC) insurance....more

Hogan Lovells

Learning from Silicon Valley Bank - Never let a good crisis go to waste – so how could you use recent events in California to take...

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Many lessons will be learned from the failure of Silicon Valley Bank last weekend. The full story is unlikely to emerge for some time, but commentators have quickly reached a consensus on the likely causes. The central...more

Perkins Coie

Distressed Bank Update as of March 16, 2023

Perkins Coie on

In the three days since federal authorities announced sweeping measures to protect depositors of Silicon Valley Bank (SVB) and Signature Bank and help prevent additional bank failures (as discussed in our update of March 12,...more

Goodwin

Turbulent Banking Sector Renews Interest in Cash Management and Investment Policies

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Silicon Valley Bank was a leading bank for the tech and life science sectors and for many of the venture capitalists who invest in those sectors. The bank’s abrupt disclosure on Wednesday, March 8, of significant losses on...more

WilmerHale

A Look At The Feds' Extraordinary Reaction To SVB Collapse

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On Sunday evening, the U.S. Department of the Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation announced measures to (1) prevent losses to all depositors — including all uninsured depositors — after...more

DarrowEverett LLP

Protection From Panic Starts With These Proactive Banking Strategies

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The fast and furious developments related to Silicon Valley Bank (“SVB”), Signature Bank, and others had depositors, employees, landlords, lawyers, accountants, and fiduciaries from nearly every sector scrambling for...more

Foley Hoag LLP

SVB Closure: Public Company Disclosure Considerations

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Since Friday, March 10, 2023, more than 300 public companies have filed current reports on Form 8-K regarding the closure of Silicon Valley Bank ("SVB"). Company disclosure in these 8-Ks falls essentially into four...more

UB Greensfelder LLP

Federal Government Makes Significant Moves to Instill Confidence in US Banking System

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On Sunday evening, March 12, 2023, two extraordinary joint press releases were simultaneously issued by the U.S. Department of Treasury, the Federal Reserve Bank, and the Federal Deposit Insurance Corporation (FDIC). The...more

Royer Cooper Cohen Braunfeld LLC

Silicon Valley Bank and Signature Bank Closures; Federal Regulators Announce Plan to Protect Depositors

On Friday, March 10, 2023, the California Department of Financial Protection & Innovation, aided by the Federal Deposit Insurance Corporation (“FDIC”) shuttered Silicon Valley Bank (“SVB”) over concerns surrounding its...more

White & Case LLP

Update: Top Depositor Questions on the Silicon Valley Bank Receivership

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On Friday, March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank ("SVB") and the Federal Deposit Insurance Corporation ("FDIC") was appointed SVB's receiver....more

Morgan Lewis

SVB and Distressed Banks: Lessons Learned from a Wild Weekend

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US governmental authorities, including the US Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation, took actions to provide both insured and uninsured...more

Goodwin

FAQ About Recent Bank Failures in the US

Goodwin on

What actions did the US government take on Sunday with respect to Silicon Valley Bank (SVB) and Signature Bank? On Sunday, March 12, the FDIC, the Federal Reserve, and the US Treasury Department announced that the US...more

Fenwick & West LLP

Silicon Valley Bank Closure: Updated Considerations Following the Creation of Silicon Valley Bridge Bank, N.A.

Fenwick & West LLP on

Considerations relating to Silicon Valley Bank (SVB)’s closure have continued to evolve as a result of the recent announcement by the Federal Deposit Insurance Corporation (FDIC) that it has transferred all deposits—both...more

Latham & Watkins LLP

Federal Reserve Establishes Bank Term Funding Program to Stabilize Financial System

Latham & Watkins LLP on

The decisive action will mitigate emerging liquidity and solvency risks, contain pressure on the banking system, and protect depositors. On March 12, 2023, the Board of Governors of the Federal Reserve System (Federal...more

Womble Bond Dickinson

Update on Silicon Valley Bank Failure and Recent Actions Taken by the Federal Government to Strengthen Confidence in the U.S....

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On Sunday, March 12, 2023, the Department of Treasury, Federal Reserve and FDIC issued a joint statement confirming that they were taking decisive action to protect the U.S. economy by strengthening public confidence in our...more

Coblentz Patch Duffy & Bass

Impact of Recent Bank Failures on Borrowers, Landlords, and Other Stakeholders

By now, most will have heard the news that all deposits at Silicon Valley Bank have been made available to depositors. The Federal Deposit Insurance Corporation (FDIC), in a series of joint statements issued with the U.S....more

UB Greensfelder LLP

How Silicon Valley Bank's Shutdown Affects Venture Companies

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Among America’s largest banks and formerly well-regarded by analysts, investors, and venture-backed companies alike, the sudden failure of Silicon Valley Bank (SVB) last week sent shockwaves through the venture capital and...more

McGuireWoods LLP

SVB Receivership and Related Disruption: an Evolving Situation

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On March 10, 2023, California regulators shut down Silicon Valley Bank (SVB) and the Federal Deposit Insurance Corporation was appointed its receiver. All FDIC-insured deposits were transferred to the newly created Deposit...more

Cooley LLP

Recent Developments: Silicon Valley Bank and Signature Bank

Cooley LLP on

After depositors rushed to withdraw funds from Silicon Valley Bank (SVB), on Friday, March 10, 2023, the US bank was closed by the California Department of Financial Protection and Innovation (DFPI), and the Federal Deposit...more

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