Bank Closures

News and Announcements from the Federal Government

• Testimony of Martin Gruenberg, Chairman, FDIC at House Financial Services Committee Hearing on Oversight of Prudential Regulators (May 16, 2023)

• Testimony of Michael Barr, Vice Chairman for Supervision, Board of Governors of the Federal Reserve System at House Financial Services Committee Hearing on Oversight of Prudential Regulators (May 16, 2023)

• Testimony of Michael Hsu, Acting Comptroller, Office of the Comptroller of the Currency at House Financial Services Committee Hearing on Oversight of Prudential Regulators (May 16, 2023)

• Federal Reserve Supervision and Regulation Report (May 15, 2023)

• Speech by Federal Reserve Governor Bowman on the Evolving Nature of Banking, Bank Culture, and Bank Runs (May 12, 2023)

• FDIC Board of Directors Issues a Proposed Rule on Special Assessment Pursuant to Systemic Risk Determination (May 11, 2023)

• FDIC Releases Comprehensive Overview of Deposit Insurance System, Including Options for Deposit Insurance Reform (May 1, 2023)

• JPMorgan Chase Assumes All Deposits of First Republic Bank (May 1, 2023)

• FDIC Releases Report Detailing Supervision of the Former Signature Bank (April 28, 2023)

• Federal Reserve Board Announces the Results from the Review of the Supervision and Regulation of Silicon Valley Bank (April 28, 2023)

Resources from Federal Agencies

See the following resources from federal regulatory agencies for current news and relevant guidance.

• Federal Reserve Bank Term Funding Program: The Bank Term Funding Program (BTFP) was created to support American businesses and households by making additional funding available to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.
• FDIC Deposit Insurance Resource Page: This page includes links to FAQs about deposit insurance, tools to determine which institutions and accounts are insured, brochures, videos and more. The Deposit Insurance Fund is funded by insurance assessments paid by all insured banks, and any losses are recovered by a special assessment on banks – not by taxpayers.
• FDIC Electronic Deposit Insurance Estimator (EDIE): EDIE lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion (if any) exceeds coverage limits at that bank.
• FDIC Financial Institution Employee’s Guide to Deposit Insurance: This resource assists depository institutions insured by the FDIC in providing accurate information about FDIC insurance coverage to their depositors.
• FDIC Page “When a Bank Fails - Facts for Depositors, Creditors, and Borrowers”
• FDIC Failed Bank Information for Silicon Valley Bank