Signature Bank (SBNY)
- Reuters
UPDATE 3-Chair of Sweden's top pension firm resigns after dud investments
Alecta, the subject of two ongoing probes by the Swedish Financial Supervisory Authority (FSA) over risk taking, said in a statement its deputy board chair, Jan-Olof Jacke, will lead the board until a permanent candidate is elected. "In a situation where there has been too much focus on my person, I have decided to resign," Ingrid Bonde said in a statement. Alecta's board in April fired its CEO, and the FSA launched a probe, after it lost 19.6 billion Swedish crowns ($1.78 billion) from holdings in U.S. lenders First Republic Bank, Silicon Valley Bank and Signature Bank as those collapsed.
- Yahoo Finance Video
Sheila Bair discusses bank exec testimonies, banking shorts, Fed rate hikes, debt ceiling talks
Sheila Bair, Former FDIC Chair and Senior Fellow to the Center for Financial Stability, discusses bank executives' testimonies and reasons behind the regional banking failures, including interest rate risk management, the role of social media, and deposit runs.
- Yahoo Finance Video
SVB, Signature Bank: 'I'm confident we will have more' bank failures, former FDIC chair says
Former FDIC Chair Bill Isaac joins Yahoo Finance Live to discuss regional banking failures, including SVB and Signature Bank, banking executives' testimonies in Congress, advice for banking regulators, and the likelihood of future banking failures.
