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The acquisition of First Republic Bank merely provided a "backstop" but not a solution to the US banking crisis that was facilitated by the Federal Reserve s continuing interest rate hikes, Sergio Rossi, professor of macroeconomics and monetary economics at the University of Fribourg, Switzerland, told Sputnik. ....
Silicon Valley Bank, the US' 16th-largest bank, failed after depositors hurried to withdraw money this week amid anxiety over the bank’s health. It was the.. ....
Startup founders in California’s Bay Area are panicking about access to money and paying employees. Fears of contagion have reached Canada, India and China ....