Joe Biden

U.S. lawmakers to examine merits of higher FDIC bank deposit insurance cap

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The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023. Al Drago | Bloomberg | Getty Images Four prominent U.S. lawmakers on banking matters said on Sunday they would consider whether a higher federal insurance limit on bank deposits was needed to stem a financial crisis marked by a … Read more

Crunch time for Credit Suisse talks as UBS seeks Swiss assurances

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Talks over rescuing Credit Suisse rolled into Sunday as UBS sought $6 billion from the Swiss government to cover costs. UBS is under pressure from the Swiss authorities to take over its local rival to get the crisis under control, two people with knowledge of the matter said. Regulators want a resolution before markets reopen on Monday, but … Read more