(Reuters) — Bank stocks around the world plunged on Monday even as President Joe Biden vowed to take action to ensure the safety of the U.S. banking system after the
The National Pension Service (NPS) had more than 100,000 shares in the Silicon Valley Bank (SVB) that has been suspended from trading as it became the largest U.S. bank to collapse.
After a dramatic weekend, U.S. regulators on Sunday stepped in after the collapse of SVB - the largest U.S. bank failure since 2008, which suffered a run after a big hit on a portfolio of bonds. SVB's customers will have access to all their deposits starting Monday and regulators set up a new facility to give banks access to emergency funds.
By Alun John and Rae Wee LONDON/SINGAPORE (Reuters) -Bank shares in Europe and Asia plunged on Monday as the United States' move to guarantee the deposits