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☆ ‘Do You Even Want Us to Exist?’ A Bank Chief Fights to Survive.
▼ + stars: | 2023-06-14 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

Mr. Vecchione said he had never spoken to Ms. Yellen or her staff before this year, and now he receives check-in calls from the deputy Treasury secretary, Wally Adeyemo. He said he had been asking regulators lately, “Do you even want us to exist?”There is a model for a more concentrated banking sector. In Canada, six banks dominate 90 percent of the market, versus about 50 percent for the six largest banks in the United States. Experts say there is little incentive for banks in Canada to take outsize risks, though there is also relatively little competition, which means borrowers may face higher interest rates. “I don’t think we want to get to the point of six banks, because that would really stifle lending,” said Ben Gerlinger, a regional bank analyst at Hovde Group.

Persons: Jamie Dimon, Janet L, Yellen, Vecchione, Wally Adeyemo, ”, Ben Gerlinger Organizations: JPMorgan, Experts, Hovde Group Locations: Canada, United States

An investigative committee of the U.S. Federal Circuit Court of Appeals rejected a request by Judge Pauline Newman, 95, to transfer the probe to another circuit. The Washington-based Federal Circuit said it will not comment on the order or other related documents it released on Tuesday. "Though it is difficult to say this, I believe Judge Newman is simply losing it mentally," one staffer told judicial investigators. The Federal Circuit disclosed the probe last month, citing concerns about Newman's ability to handle cases and her refusal to cooperate with the investigation. Newman was appointed by President Ronald Reagan in 1984 to the patent law-focused Federal Circuit, which often hears major cases involving technology and pharmaceutical companies.

☆ Staff for a 95-year-old federal judge say she is "losing it, mentally" and talking to a dead colleague
▼ + stars: | 2023-05-17 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

Judge Pauline Newman says her fellow appeals judges are trying to force her off the Federal Circuit. She claims she's been "hacked" when she can't find a file or email, the decision quoted staff saying. Her peers say Judge Newman has slowed downOver the years, Judge Newman has established a reputation as a prolific dissenter, frequently and openly disagreeing with her colleagues on issues of patent law. The typical federal judge last year was 68 years old. The judges investigating Newman said allegations about her interactions with staff weren't the only thing that needed to be evaluated.

☆ Western Alliance soars 20% after it says deposits stabilized a month after bank turmoil rocked markets
▼ + stars: | 2023-04-19 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Western Alliance stock surged as much as 20% on Wednesday. The regional lender indicated that its deposit levels have stabilized since last month's banking turmoil. "While we experienced elevated net deposit outflows immediately following the closure of other banks, deposit balances quickly stabilized," Western Alliance CEO Kenneth Vecchione said in a statement. Panic rippled through financial markets throughout the month, sending shares of regional banks plunging before the sector stabilized after interventions from government authorities and larger banks. Western Alliance shares are still down 33% year-to-date after the latest rally.

☆ Western Alliance deposits stabilize, profits beat, shares rise after hours
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

April 18 (Reuters) - Western Alliance Bancorp (WAL.N) on Tuesday posted profits that surpassed estimates and said its deposits stabilized after the March banking crisis, news that sent its shares soaring 15% in after-hours trading and also lifted shares of other U.S. regional banks. The company said some 73% of its deposits were insured and immediately available liquidity exceeds uninsured deposits, it said. Its proportion of insured deposits was well above industry norms among the 50 largest U.S. banks. Western Alliance and other regional lenders came under pressure recently, with consumers moving money into bigger banks after the failure of two U.S. lenders triggered worries about a broader crisis and funding costs. Last month, Western Alliance affirmed its full-year deposit growth forecast of 13% to 17%.

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