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He now faces renewed criticism over his agenda at the Fed, where he oversaw efforts to reduce regulations on regional banks. U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, leaving them with higher funding costs. In 2008, regulators had to contend with billions of dollars in toxic mortgages and complex derivatives sitting on bank books. Currently, regional banks below $250 billion in assets have simpler capital, liquidity and stress testing requirements. "SVB is not a very complicated bank," said Dan Awrey, a Cornell Law professor and bank regulation expert.

☆ Shares of US regional banks attempt recovery after SVB-fueled rout
▼ + stars: | 2023-03-14 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

March 14 (Reuters) - Shares of U.S. regional banks rose on Tuesday after suffering double-digit losses over the past few days following the biggest bank collapse since the 2008 global financial crisis. The collapse of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) sent shockwaves through global markets, despite assurances from U.S. President Joe Biden and other policymakers that banks and deposits were safe. First Republic Bank (FRC.N) rose 57% before trading was halted for volatility, a day after hitting an intraday record low of $17.53. The S&P 1500 regional banks sub-industry index (.SPCOMBNKS) advanced 7.7% after shedding 20% in the past three sessions. Big banks rose with JPMorgan up 1.6%, Wells Fargo (WFC.N) 6.6% and Bank of America (BAC.N) 4.2%.

☆ First Republic leads losses among U.S. regional banks on contagion fears
▼ + stars: | 2023-03-13 | by ( Medha Singh | ) www.reuters.com time to read: +4 min

[1/2] A person walks past the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. REUTERS/David 'Dee' DelgadoMarch 13 (Reuters) - Shares of U.S. regional banks slumped on Monday, led by losses in First Republic Bank (FRC.N) as news of fresh financing failed to assuage bank contagion fears following the collapse of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O). The KBW regional banking index (.KRX) slipped 5.4%, and the S&P 500 banking index (.SPXBK) fell 6%. U.S. President Joe Biden vowed to do whatever was needed to address a potential banking crisis after the collapse of Silicon Valley Bank and Signature Bank. Among Wall Street lenders, Bank of America Corp (BAC.N) dropped 3.3%, Citigroup Inc (C.N) and Wells Fargo (WFC.N) slid about 6% each, while lenders in Asia and Europe plunged too.

[1/2] A person walks past the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. There were multiple trading halts on bank shares as the KBW regional banking index (.KRX) fell 5.4%, and the S&P 500 banking index (.SPXBK) dropped 6%. Hogan said each regional bank has its own exposure to different parts of the market. He added the fate of regional bank stocks will be "case by case" as investors look to see which ones could have the most negative exposure. "First Republic Bank, which has significant exposure to the coastal real estate markets appears to be next on the list".

☆ Investing Club: The week in review, the week ahead — Jan. 14, 2023
▼ + stars: | 2023-01-14 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Also, earnings season is just kicking off, when we'll learn much more about what companies are seeing on the ground. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. People shop at the Pioneer Supermarkets on January 12, 2023 in the Flatbush neighborhood of Brooklyn borough in New York City.

The valuations of listed financial technology firms have plunged 70% in 2022, analysts at Jefferies Group said in a note last week. The Columbus, Ohio regional bank is scouring for more targets after it bought Torana, a payments fintech, in May. PNC Financial Services Inc (PNC.N) in September bought Linga, a fintech focused on restaurant operations and sales. The slide in fintech valuations coincides with banks earning more from traditional lending businesses as interest rates rise. Fintech deals enable banks to buy new technology or products instead of developing them in-house.

☆ Forget Big Banks. It pays to be smaller
▼ + stars: | 2022-10-24 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

That’s compared to a nearly 20% drop for the Financial Select Sector SPDR, which holds most of the big banks. So can regional banks continue to hold up well even as the Fed is expected to jack up interest rates even further? More big rate hikes are likely to lead to an even bigger jump in mortgage rates, which could put a major dent in the rapidly slowing housing market. Businesses more cautious and inflation not going away yetThat said, there are big risks that Steinour is monitoring. So we’re likely to see higher rates for a longer period of time.”Steinour said that big rate hikes may not feel great for consumers or small businesses.

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