In this alert we consider various reforms and proposals to the banking sector announced by UK regulators. On 11 January 2024, HM Treasury published a consultation paper.
California Department of Financial Protection appointed Federal Deposit Insurance Corporation FDIC as receiver for Silicon Valley Bank SVB. FDIC is appointed receiver to liquidate or wind up affairs of failed bank. Bridge bank allows FDIC to rapidly take over failed bank.
A lot of ink has been spilled in the last 72 hours regarding the historic developments involving Silicon Valley Bank and Signature Bank. Our quick summary of the facts and law is below..
On 13 March 2023, the Bank of England (BoE), in consultation with the Prudential Regulation Authority (PRA), HM Treasury (HMT), and the Financial Conduct Authority (FCA), made the.