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Banking

Banks in Turmoil

Small banks are doing just fine. Thanks for asking.

by Kimberly Adams
May 1, 2023
Main Street banks, often more diversified and risk-averse than Wall Street banks, are largely shrugging off First Republic’s meltdown.
Although depositors pulled $100 billion out of smaller banks in the aftermath of Silicon Valley Bank's failure, the collapse of First Republic has so far been met with a more muted response.
Spencer Platt/Getty Images
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A Warmer World

Big banks are succeeding at turning a profit, struggling to meet climate commitments

by Ali Budner
Apr 27, 2023
Two recent studies show the biggest banks are still not doing enough to meet the goals of the Paris Climate agreement.
If banks over-invest in fossil fuels, "They're going to suffer consequences in terms of profitability later on," said UC Santa Cruz professor Galina Hale.
Frederic J. Brown/AFP via Getty Images
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The debt limit is not a tool for "extortion," Biden adviser Lael Brainard says

by Kai Ryssdal , Sean McHenry and Sarah Leeson
Apr 26, 2023
The new head of the National Economic Council on inflation, supply chains, jobs and post-SVB bank regulation.
The investing in America agenda “is transformative," Lael Brainard says. "It has the power to reindustrialize the U.S. economy."
Drew Angerer/Getty Images
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Banks in Turmoil

The Treasury Department wants to apply more scrutiny to financial institutions that aren't banks

by Justin Ho
Apr 25, 2023
Several of them were responsible for the 2008 financial crisis.
Several nonbanks, including Bear Stearns, were partially responsible for the 2008 financial crisis.
Chris Hondros/Getty Images
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I've Always Wondered ...

What would happen if paper money became obsolete?

by Janet Nguyen
Apr 21, 2023
A large number of Americans have gone cashless, but many still have to rely on it.
Cash is still here to stay.
OZAN KOSE/AFP via Getty Images
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Watch prices and credit ahead of next rate decision, Chicago Fed CEO says

by Kai Ryssdal and Andie Corban
Apr 19, 2023
The intensity of a coming economic slowdown will depend on how much banks tighten credit conditions, says Austan Goolsbee.
Austan Goolsbee jokes that his informal speaking style makes the Fed's media staff sweat. "Every time I stand up, they’re like, 'Oh, no.'”
Chip Somodevilla/Getty Images
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Banks in Turmoil

Banks are borrowing less from the Federal Reserve

by Nancy Marshall-Genzer
Apr 14, 2023
That's good news, but banks are still borrowing a lot more from the Fed than they typically do.
New central bank data shows that banks borrowed about $9 billion less from the Fed in the week ending April 12, according to Krishna Guha, vice chair of Evercore ISI.
Kevin Dietsch/Getty Images
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Banks in Turmoil

Banks to start reporting quarterly earnings, providing clues about the economy

by Mitchell Hartman
Apr 13, 2023
First up: the biggest financial institutions. They're likely to show strong results.
Citibank is among the large financial institutions that will report results Friday. Considering recent instability in the sector, analysts will examine the data closely.
Andrew Caballero-Reynolds/AFP via Getty Images
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Banks in Turmoil

The history of “too big to fail”

by Kai Ryssdal and Maria Hollenhorst
Apr 13, 2023
In the wake of the Silicon Valley Bank debacle, the 1984 failure of Continental Illinois remains relevant.
The head offices of Bear Stearns, left, and JPMorgan Chase in New York in March 2008. After Bear went bust, JPM acquired its remains for a small sum.
Don Emmert/AFP via Getty Images
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Banks in Turmoil

Why we're paying extra attention to senior loan officers right now

by Kai Ryssdal and Andie Corban
Apr 11, 2023
The recent banking turmoil could further tighten credit conditions and slow down the economy.
Kent Belasco of Marquette University believes the recent bank failures are isolated, but "it does have an impact on the banking industry as a whole."
Justin Sullivan/Getty Images
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