‘Inundated with requests’: Digital currency firms look to Swiss banks after crypto-friendly lenders fail

Switzerland has created what they dub “Crypto Valley” in the region of Zug. Nurphoto | Nurphoto | Getty Images Crypto firms are scrambling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital, two lenders that were friendly to digital currency companies. Some of these companies have turned to crypto-friendly … Read more

Traders, buying the dip in Schwab, are finding value in the beaten-up financial sector

Some traders are using the recent pullback in financial stocks to scoop up shares of what they call quality names at bargain prices. That includes Charles Schwab , down 23% this month, as turmoil rocks the broader financial sector, especially hitting regional banks. But Hightower Advisors’ chief investment strategist and portfolio manager Stephanie Link is … Read more

First Republic’s future to be discussed as major bank CEOs gather, sources say

A sign is posted on the exterior of a First Republic Bank office on March 16, 2023 in San Francisco, California.  Justin Sullivan | Getty Images Major bank chief executives are gathering in Washington for a two-day scheduled meeting starting on Tuesday, with the future of First Republic Bank to be discussed, sources familiar with … Read more

Fed faces a nearly impossible task Wednesday: Keep inflation fighting cred and financial stability

Some investors worry the Federal Reserve will have a tough time succeeding in wielding the tools to both fight inflation and calm the banking system. The Fed began its two-day meeting Tuesday morning, and it’s widely expected to raise interest rates again. The futures market is pricing a more than 80% chance the Fed raises … Read more

The Fed is likely to hike rates by a quarter point but it must also reassure it can contain a banking crisis

Federal Reserve Chair Jerome H. Powell testifies before a U.S. Senate Banking, Housing, and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., March 7, 2023.  Kevin Lamarque | Reuters The Federal Reserve is expected to raise interest rates Wednesday by a quarter point, but … Read more

This new, concentrated ETF lets investors bet on only the biggest U.S. banks

A new ETF hitting the market this week is aiming to make it easier for investors to gain exposure to large banks, and large banks only. Roundhill Investments’ Big Bank ETF (BIGB) will have equal weight positions in just six banks: Bank of America , Citigroup , Goldman Sachs , JPMorgan Chase , Morgan Stanley … Read more

Op-ed: ESG investing and 2018 change in bank laws didn’t cause Silicon Valley Bank to collapse, says former Sen. Heitkamp

Heidi Heitkamp is a former Democratic senator from North Dakota, and currently serves as director of the University of Chicago’s Institute of Politics. She is also the founder of the One Country Project, an organization dedicated to advancing rural America, and a CNBC contributor. Within hours of the Silicon Valley Bank collapse, political spin machines … Read more

Republicans request Fed and FDIC oversight records for failed Silicon Valley Bank and Signature Bank

The Signature bank logo is seen in this photo illustration in Warsaw, Poland on 13 March, 2023. Jaap Arriens | Nurphoto | Getty Images WASHINGTON — The top Republicans on committees that oversee the U.S. financial system sent letters Monday to Federal Reserve Chairman Jay Powell and FDIC chairman Martin Gruenberg formally requesting documents and … Read more

What happens during a ‘credit crunch’ — and how you can prepare for one

Tetra Images | Tetra Images | Getty Images The recent banking crisis has fueled concern of a “credit crunch” and the resulting negative impact on households, businesses and the U.S. economy. But what is a credit crunch and how might you prepare? Loans would be tougher to get During a credit crunch, banks significantly tighten … Read more

Banks could become a sector of ‘haves and have nots.’ How the ‘Halftime’ Traders are preparing

Despite turmoil in the banking sector, Morgan Stanley is still a good name to hold — and could buck broader industry trends as the crisis plays out, said Sarat Sethi, managing partner at Douglas C. Lane & Associates. Sethi said the investment bank has strong capital, which will serve it will at a time when … Read more