depositors

The Central Bank of Nigeria (CBN) has assured depositors and customers of Nigerian banks of the safety of their funds in the banks. The Acting Director, Corporate Communications Department of the CBN, Hakama Sidi-Ali, gave the assurance in a statement on Wednesday. According to Mrs Sidi-Ali, the assurance was informed by reports about a recommendation for the federal government to take over some CBN-supervised financial institutions. The News Agency of Nigeria (NAN) reports that there have been unconfirmed…

Two months after the failure of Silicon Valley Bank, the lender’s depositors in the Cayman Islands have been left out in the cold.  Two months after the failure of Silicon Valley Bank, the lender’s depositors in the Cayman Islands have been left out in the cold.  FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their…

Reader survey As a reader of PREMIUM TIMES, your opinion matters. Please take our survey to help us better understand the values and preferences of our readers. Your feedback will give us valuable insights into how we can tailor the different types of content we offer to meet your needs. The survey should only take about 6-8 minutes to complete. Click here to take it. The Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification of insured depositors of the defunct Peak Merchant Bank for…

For more than a decade after the collapse of Lehman Brothers in 2008, Washington’s regulatory watchdogs sought to ensure that they would never again face fraught weekend deliberations about propping up the financial system from a bank failure.  For the nation’s top economic officials—Federal Reserve Chair Jerome Powell, Treasury Secretary Janet Yellen, Federal Deposit Insurance Corp. Chairman Martin Gruenberg…

The measures, which include guaranteeing all deposits of SVB, were designed to shore up wavering confidence in the banking system. They were jointly announced Sunday night by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp. Regulators announced they had taken control of Signature Bank, one of the main banks for cryptocurrency companies, on Sunday. The New York bank’s depositors will be made whole, officials said. A senior Treasury official said the steps didn’t…

HSBC UK is acquiring Silicon Valley Bank UK for a symbolic £1, after a tense weekend of frantic negotiations by the UK government, regulators and a suite of other potential suitors. The deal is a massive relief to the UK technology sector, which was highly exposed to the collapse of SVB and it’s uk arm, and will be seen to have supported confidence in the financial system. HSBC said the transaction “completes immediately”. The acquisition will be funded from existing resources. The bank added in a statement: “As at…

The Federal Reserve issued a joint pair of statements on Sunday with one clear message: Silicon Valley Bank’s depositors, both insured and uninsured, will receive help in a manner that will “fully protect” all. Depositors, the statement reads, “will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.” After consulting with the boards of the Federal Reserve and the Federal Deposit Insurance, as well as a…

The US Treasury Secretary Janet Yellen said the government is working with banking regulators to design “appropriate policies” to address the fallout of Silicon Valley Bank and is “concerned about depositors,” but she dismissed the idea of a bailout in a potential setback for the startup ecosystem that is reeling from what is the worst bank failure since the 2008 financial crisis. “Well let me be clear that during the financial crisis, there were investors and owners of systemic large banks that…

A California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement.Silicon Valley Bank had about $209 billion in total assets and about $175.4 billion in total deposits, as of Dec. 31, 2022, a Reuters report said.The main office and all branches of Silicon Valley Bank will reopen on March 13 and all insured depositors will have full access to their insured deposits no later than Monday morning, according to the…

The Nigeria Deposit Insurance Corporation (NDIC) says it has paid N113.2 billion to insured and uninsured depositors of all categories of liquidated banks as of June 2022. A bank is said to be liquidated when it can no longer finance the operation of its branches, selling off any assets and using the proceeds to settle as many of the bank’s remaining liabilities as possible. The NDIC said the payment covered a total of 467 insured financial institutions in liquidation, comprising 49 deposit money banks,…