FDIC

The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.

Banks reported record growth in net interest margins in 2022, but net income still fell, and the industry "continues to face significant downside risks" from inflation and other factors, Martin Gruenberg says.

Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said that the agency will continue to consider its rising assessment rates even as deposits fell in the second quarter

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

The potential amendments could expand coverage but also add new record-keeping and systems requirements for large banks handling custodial accounts.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.

The former FDIC chief oversaw the resolution of hundreds of failed banks during the financial crisis and knows how to build relationships with regulators. Those skills could be crucial in helping Fannie exit federal control.

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

The proposed regulation would codify a 2018 pronouncement by regulators that guidance does not carry the force of law.