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Financial Institutions Relief Measures

Nelson Mullins Riley & Scarborough LLP

FinCEN Announces Relief Plans for Qualified Victims Impacted by Recent Hurricanes

The Financial Crimes Enforcement Network (FinCEN) recently announced plans to provide relief to victims of recent hurricanes and natural disasters, including Hurricane Helene. FinCEN is providing an additional six months to...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2024

Headlines 1. Supreme Court Upholds the Constitutionality of the CFPB’s Funding Structure The Supreme Court has ruled that the statutory authorization that allows the CFPB to draw funds from the earnings of the Federal Reserve...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

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In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Orrick, Herrington & Sutcliffe LLP

FDIC announces Florida disaster relief

On May 5, the FDIC issued FIL-22-2023 to provide regulatory relief to financial institutions and help facilitate recovery in areas of Florida affected by severe storms, tornados, and flooding from April 12 to 14...more

Orrick, Herrington & Sutcliffe LLP

FDIC announces Oklahoma disaster relief

On April 28, the FDIC issued FIL-22-2023 to provide regulatory relief to financial institutions and help facilitate recovery in areas of Oklahoma affected by severe storms, straight-line winds, and tornados from April 19 to...more

Orrick, Herrington & Sutcliffe LLP

FDIC announces California and Tennessee disaster relief

On April 13, the FDIC issued FIL-15-2023 to provide regulatory relief to financial institutions and help facilitate recovery in areas of California affected by severe winter storms, straight-line winds, flooding, landslides,...more

Goodwin

Debt Download - March 2023

Goodwin on

Welcome to Goodwin’s Debt Download, our monthly newsletter covering what you need to know in the leveraged finance market. This month, we focus our coverage on the turmoil in the banking industry resulting from the failures...more

Latham & Watkins LLP

White House Recommends Stricter Regulations for Large Regional Banks

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President Biden is calling for tougher standards and supervision for large regional banks in the wake of recent instability in the US banking sector. On March 30, 2023, the White House issued a Fact Sheet calling on the...more

Goodwin

The U.S. Government Takes Action on the Silicon Valley Bank and Signature Bank Failures

Goodwin on

Regulatory Developments - The U.S. Government Takes Action on the Silicon Valley Bank and Signature Bank Failures - On March 12, the FDIC, the Federal Reserve, and the U.S. Treasury Department announced that the U.S....more

Cadwalader, Wickersham & Taft LLP

FRB Establishes Bank Term Funding Program to Aid Liquidity Availability

As we noted very briefly on Monday in our “Quick Take on a Sudden Change in the Banking Landscape,” among the various actions the government took Sunday evening to try to stabilize the banking market, the Federal Reserve...more

UB Greensfelder LLP

Federal Government Makes Significant Moves to Instill Confidence in US Banking System

UB Greensfelder LLP on

On Sunday evening, March 12, 2023, two extraordinary joint press releases were simultaneously issued by the U.S. Department of Treasury, the Federal Reserve Bank, and the Federal Deposit Insurance Corporation (FDIC). The...more

Royer Cooper Cohen Braunfeld LLC

Silicon Valley Bank and Signature Bank Closures; Federal Regulators Announce Plan to Protect Depositors

On Friday, March 10, 2023, the California Department of Financial Protection & Innovation, aided by the Federal Deposit Insurance Corporation (“FDIC”) shuttered Silicon Valley Bank (“SVB”) over concerns surrounding its...more

Hogan Lovells

Silicon Valley Bank (SVB) and Signature Bank Collapses: Your legal and regulatory FAQs answered - Last updated March 15 @ 10:10 am

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Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation...more

White & Case LLP

Update: Top Depositor Questions on the Silicon Valley Bank Receivership

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On Friday, March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank ("SVB") and the Federal Deposit Insurance Corporation ("FDIC") was appointed SVB's receiver....more

Jackson Walker

What Businesses Should Know About Collapse of Silicon Valley and Signature Banks

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On Friday, March 10, 2023, news broke of the collapse of Silicon Valley Bank, the 16th largest bank in the United States with $213 billion in assets reported as of December 2022. Soon after, on Sunday, March 12, Signature...more

Morgan Lewis

SVB and Distressed Banks: Lessons Learned from a Wild Weekend

Morgan Lewis on

US governmental authorities, including the US Department of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation, took actions to provide both insured and uninsured...more

Goodwin

FAQ About Recent Bank Failures in the US

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What actions did the US government take on Sunday with respect to Silicon Valley Bank (SVB) and Signature Bank? On Sunday, March 12, the FDIC, the Federal Reserve, and the US Treasury Department announced that the US...more

Womble Bond Dickinson

Update on Silicon Valley Bank Failure and Recent Actions Taken by the Federal Government to Strengthen Confidence in the U.S....

Womble Bond Dickinson on

On Sunday, March 12, 2023, the Department of Treasury, Federal Reserve and FDIC issued a joint statement confirming that they were taking decisive action to protect the U.S. economy by strengthening public confidence in our...more

Hogan Lovells

Silicon Valley (SVB) and Signature Bank Collapses: Your legal and regulatory FAQs answered Last updated March 13 @ 10:50 pm

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Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation...more

Orrick, Herrington & Sutcliffe LLP

Considerations for VC Funds Regarding Receivership of SVB

VC Fund has an Account with SVB See the FDIC's FAQ and Orrick's SVB Resource Center generally for issues relating to the SVB receivership and related matters. As long as a VC Fund does not have loans outstanding under a...more

Foley Hoag LLP

Department of the Treasury, Federal Reserve, and FDIC Issue Joint Statement

Foley Hoag LLP on

On Sunday, March 12, 2023, the Treasury Department, the Federal Reserve, and the FDIC issued a joint statement indicating that there has been an agreement to roll out emergency measures to protect depositors at SVB. The...more

Orrick, Herrington & Sutcliffe LLP

Hot Off the Press: Efforts to Stabilize the U.S. Banking System

In a joint statement, the Department of the Treasury, the Federal Reserve and the FDIC announced that...more

Hogan Lovells

Silicon Valley Bank UK Limited FAQs

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Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday 10th March 2023. SVB’s UK operations were conducted through its subsidiary, Silicon Valley Bank UK Limited (SVBUK). ...more

Hogan Lovells

Silicon Valley Bank (SVB) FAQs

Hogan Lovells on

Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation which appointed the Federal Deposit Insurance Corporation (FDIC)...more

Fenwick & West LLP

Silicon Valley Bank Closure: Important Updates for Corporate Banking Customers

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Last Updated: Sunday, March 12, 2023, 5 p.m. PDT On Friday, March 10, 2023, Silicon Valley Bank (SVB) was closed by the California Department of Financial Protection & Innovation, The Federal Deposit Insurance Corporation...more

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