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Leumi writes down Valley National stake by NIS 1b

Bank Leumi estimates that the reduction in value of its stake in the US bank will cut its first quarter profit by 50%.

Raymond jamesSteve mossValley national bancorpValley national bankcorpValley nationalBank leumi

Stock market reforms aim to revitalise City of London; US regional bank shares hit again – business live

Rolling coverage of the latest economic and financial news, as FCA proposes shake-up that could expose investors to more risk

United statesCity ofUnited kingdomJoe bidenValley national bankcorpAlliance corporationOffice for national statisticsJp morganFederal reserveLondon stock exchangePacwest bancorpFinancial conduct authorityFirst republic bank onLos angeles basedFirst republic bankWestern alliance corporation

Fed to Hike Rates as US Bank Turmoil Persists

That’s why US politicians now urge Federal Reserve (Fed) Chair Jerome Powell to stop hiking the interest rates. Elizabeth Warren and Bernie Sanders have reportedly written a letter to warn the Fed that the bank turmoil and the cumulative rate hikes leave the US economy ‘more vulnerable to an overreaction from the Fed’.

Elizabeth warrenBernie sandersJerome powellValley national bankcorpFirst republic bank onAlliance corporationEuropean central bankJp morganSilicon valley bankPacwest bancorpFirst republic bankWestern alliance corporationFederal reserveChair jerome powellApple card

First Republic collapse sparks regional bank shares sell-off

With the third major casualty since March, depositors flee regional lenders, driving fears about other smaller banks.

United statesErika najarianUs bancorpSilicon valley bankJpmorgan chase coFirst republic bankValley national bankcorpSignature bankValley national bankTruist financial corpCitizens financial groupFinancial services groupUs federal deposit insurance corpDow jonesBanking indexServices group

Is the worst of the banking crisis over or has it just begun?

Depositors fled regional lenders following the collapse of First Republic Bank on Monday, sparking fears that recent banking turmoil is far from over.

United statesNew yorkJamie dimonSteve biggarMoody jamie dimonSilicon valley bankSan first republic bankJpmorgan chase coHawaii corpUs bancorpValley national bankcorpFederal reserveAlliance bancorpFinancial services groupZions bankNew york times

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