*FED TO HOLD EMERGENCY MEETING ON MONDAY AMID SVB'S SWIFT COLLAPSE -
The Federal Reserve Board of Governors announced that it will hold an emergency closed-door meeting under expedited procedures at 11:30 a.m. on March 13, 2023.
Matters to be considered at the emergency meeting will be:"Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks." It is likely that the sudden collapse and FDIC seizure of SVB Financial Group on Friday is driving the expedited Fed meeting.failure since the 2008 financial crisis. Its collapse has sent shockwaves throughout the banking system. The status of billions of dollars of uninsured deposits is unknown heading into Monday.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank stocks crater as SVB's woes send warning sign By Investing.com*BANK STOCKS CRATER AS SVB'S WOES SEND WARNING SIGN ACROSS THE SECTOR - $JPM $C $WFC $BAC $SVBI
Read more »
SVB reminder to stock-market investors: 'Things tend to break' when Fed gets aggressiveInvestors weigh whether the high-profile collapse of Silicon Valley Bank could signal the start of a crisis. So far, the situation appears contained.
Read more »
Startups scramble to meet payroll, pay bills after SVB's swift collapseTech companies that banked at SVB are wondering when they're going to be able to pay employees and their bills after Friday's collapse.
Read more »
Banks tumble as SVB ignites capitalization fearsThe S&P 500 bank index tumbled nearly 6% on Thursday in its biggest one-day drop in over two years as investors fled the industry following SVB Financial Group's share sale announcement and crypto bank Silvergate's decision to wind down operations.
Read more »
Bank carnage drags stocks lower as SVB Financial shares plungeA brutal day for banks drags down stocks on Thursday.
Read more »
Stocks making the biggest moves after hours: SVB Financial, Oracle, Gap and moreThese are the stocks posting the largest moves in postmarket trading.
Read more »