SVB Bank Crisis: Federal Reserve, Treasury Department and FDIC Take Steps to Protect Depositors Amid Meltdown

Tori Spelling stepped out sporting a bright pink bejeweled eye patch when she attended the launch party for her best friend Laura Rugetti's new hair extension line on Monday night. The 49-year-old actress and the celebrity hairstylist wore matching ensembles of bright pink cropped jackets and pleated black maxi shirts with thigh-high slits to the event at Hotel Ziggy in West Hollywood. On Thursday, Spelling shared photos from the event and explained the reason for her unusual eye accessory in the caption.

Goin’ to the chapel … and she’s gonna get married! Sofia Richie is preparing for her upcoming wedding to fiancé Elliot Grainge. 

Bam Margera is making a statement! But is it the right one?!

Olivia Wilde and Jason Sudeikis are putting their differences aside for the sake of their children!

Amanda Bynes will continue to receive the care she needs.

The fight continues. Olivia Wilde slammed ex Jason Sudeikis in a new court filing ahead of a Friday, March 24, hearing about their ongoing custody battle.

So much for reconciliation hopes…

The U.S. Federal Reserve raised interest rates today for the ninth time since last year by an expected 25 basis points, or 0.25%. But Fed chief Jerome Powell indicated slow to no more rate hikes in this latest cycle as tighter credit conditions following the recent bank crisis may help tame inflation without more Fed action.

Amanda Bynes has been placed on a psychiatric hold after she was found completely naked in California, the Los Angeles Police Department (LAPD) confirmed to Fox News Digital. Police responded to a call Sunday at 6:45 a.m. to a 36-year-old female standing "completely nude" on the corner of Vermont Avenue and 4th Street in Los Angeles.

Amanda Bynes has reportedly been placed under a 72-hour psychiatric hold, a source close to the situation told NBC News on Monday, March 20.

It looked like a good week for Fox News on Last Week Tonight with John Oliver today as the collapse of Silicon Valley Bank and uncertainty in the financial world replaced the searing revelations resulting from Dominion Voting’s lawsuit against the Rupert Murdoch-owned cable newser on the HBO series.

it had approximately $487 million held by Silicon Valley Bank. The company said that the number represents approximately 26% of its cash and cash equivalents, and the company will be able meet its pending financial obligations for at least “the next 12 months and beyond.”The Santa Clara-based Silicon Valley Bank was closed Friday by the California Department of Financial Protection and Innovation, marking a major ending to what had for decades been one of the pillars of financing in the tech industry economy.The bank first made headlines Wednesday after it notified investors that it needed to raise just over $2 billion to offset $1.8 billion in losses it incurred from investments in mortgage-backed securities, which were devalued thanks to the Fed’s decision to raise interest rates.The next day, dozens of SVB’s venture capital clients — urged on by a venture capital fund founded by billionaire Peter Thiel and others — started pulling their assets from the bank, which one investor previously described as “a hysteria-induced bank run.”The customers withdrew $42 billion by the end of Thursday, according to California regulatory filings, and as a result the bank was left with a negative cash balance of $958 million.

New York State regulators took over Signature Bank today, the second financial institution to fold in less than a week as the FDIC and Treasury, however, assured depositors at both that they would be made whole in an attempt to stem the growing crisis.

Anyone missing their Sunday sermon this morning in Austin, TX, completely heard it in full from the 52nd former Speaker of the House who made a pitstop here at SXSW for The Atlantic session “The Future of Global Democracy”. Nancy Pelosi canvassed several topics impacting the nation’s democracy and welfare including the collapse of Silicon Valley Bank in her San Francisco backyard, Fox News’ Tucker Carlson, Republicans who prop political violence — and that was just in the first 20 minutes of her hour-long session.

Todd Spangler NY Digital Editor In the wake of the sudden collapse of Silicon Valley Bank, Wrapbook, a company that provides payroll services for TV and film productions, said payments submitted through its platform will be subject to delays. In messages to clients Friday, Wrapbook said payroll-processing delays caused by the failure of SVB — which came after a historic run on the bank’s deposits — may continue into next week. The shutdown of SVB “will cause payroll to be delayed today, March 10th 2023, and impact the processing of uncashed checks,” Wrapbook said in a statement. The company said it is working to resume payroll processing with SVB while at the same time seeking to process payroll payments with another banking partner.

documents filed Friday, Roku disclosed that it had approximately $487 million held by Silicon Valley Bank, the Northern California financial powerhouse that failed this week, sending shockwaves throughout the region’s economy.That number, Roku says, represents approximately 26% of its cash and cash equivalents, and the company will be able meet its pending financial obligations for at least “the next 12 months and beyond.”Santa Clara-based Silicon Valley Bank was closed on Friday by the California Department of Financial Protection and Innovation, a spectacular and rapid end to what had for decades been one of the pillars of financing in the white hot tech industry economy.It’s a complex and still developing story but what is known is that on Wednesday, the bank told investors it needed to raise just over $2 billion to offset $1.8 billion in losses it incurred from investments in mortgage backed securities, which were devalued thanks to the Fed’s decision to raise interest rates.Despite the somewhat routine nature of the announcement, the next day, in what one investor described as “This was a hysteria-induced bank run,” dozens of SVB’s venture capital clients — urged on by billionaire Peter Thiel — attempted to pull their assets from the bank.More to come…

Todd Spangler NY Digital Editor About one-fourth of Roku’s cash and equivalents — nearly half a billion dollars — has been held in Silicon Valley Bank (SVB), which was shut down by financial regulators Friday after it collapsed. And the streaming platform company said it’s unsure the extent to which it will be able to recover that cash. SVB, after it faced a run on deposits and failed to raise capital to make up the shortfall, was closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver of its assets. Roku disclosed in an SEC filing that about $487 million of its $1.9 billion in cash and equivalents is held at SVB, or about 26% of the company’s cash and cash equivalents balance as of March 10. The remaining $1.4 billion is “distributed across multiple large financial institutions,” Roku said in the filing.

On her side. Tom Sandoval offered a subtle glimpse at his dynamic with Raquel Leviss after news broke about their affair.

It takes a — fashionable — village! Ariana Madix’s costars and famous friends have rallied around her in support amid news of Tom Sandoval and Raquel Leviss’ cheating scandal. 

Weathering the storm. Tom Sandoval and Raquel Leviss are navigating friendship fallout amid their affair, a source exclusively reveals in the latest issue of Us Weekly.