Region: United States of America

Switzerland’s two G-SIBs are set to become one, in a regulator-brokered deal which has unexpectedly written off the beleaguered Credit Suisse’s AT1 bondholders following a week of mounting concern over the bank’s future.

20 March 2023

The parent company of Silicon Valley Bank, which was taken over by US regulators following its collapse last week, has sought bankruptcy protection in New York while it explores a potential sale of its remaining assets.

20 March 2023

As cyberattacks continue to mount, experts at the Institute of International Bankers’ recent annual conference in Washington, DC discussed how to handle attacks, the challenges of upgrading systems to keep pace, and the coming empowerment of firms’ chief information security officers.

17 March 2023

Practitioners expect “two to three years” of increased regulatory attention to liquidity and risk management in response to the collapses of Silicon Valley Bank and Signature Bank.

15 March 2023

Allen & Overy has hired a Latham & Watkins partner who once featured in GBRR’s 45 under 45 to lead its US payments practice from its Washington, DC office, shortly after it hired a former Twitter in-house payments counsel into the same office.

15 March 2023

Speaking as crypto-focused bank Silvergate enters liquidation, Federal Reserve vice-chair Michael Barr has indicated that the Fed’s thinking about crypto is “consistent” with the recent Basel framework, and warned against the vulnerability of “light-touch”-regulated smaller banks to crypto shocks.

10 March 2023

Regulators need to do more to address information mismatches between investors trying to deploy capital and firms trying to raise it, SEC commissioner Mark Uyeda has told the Institute of International Bankers’ annual conference in Washington, DC, while calling for more cross-border collaboration to avoid legal ambiguity between different jurisdictions' capital markets frameworks.

08 March 2023

US acting comptroller Michael Hsu has compared last year’s collapse of FTX to that of BCCI in the 1990s, saying regulators should revisit the lessons learned from the bank's 1991 collapse as a model for creating a global supervisory architecture for crypto firms.

07 March 2023

Canada’s Toronto Dominion and Memphis-based First Horizon have admitted their year-old merger plan – which would create the sixth-largest bank in the United States – is set to be delayed even further as they await approval from both US and Canadian regulators.

03 March 2023

Willkie Farr & Gallagher partner James Burns and counsel Brant Brown, veterans of the SEC and FINRA respectively, have both joined the partnership at Cleary Gottlieb Steen & Hamilton in Washington, DC.

28 February 2023