Banking Crisis 2023

Unrealized losses on the company's balance sheet ballooned to more than $29 billion last year. At the same time, higher interest rates are encouraging customers to move their cash out of certain accounts that underpin Schwab's business.

With the acquisitions of CIT Group and a large portion of the failed Silicon Valley Bank, the North Carolina company has doubled in size for the second time in a little more than a year and joined the class of super regionals.

Turmoil is a time for independent advisors to show why they're worth it.

Treasury Secretary Janet Yellen repeated her comment from a day earlier that the government's recent actions were "taken to ensure that Americans' deposits are safe." She sought to clarify it with a new line: "Certainly, we would be prepared to take additional actions if warranted."

The first emergency sale of a major bank since the financial crisis is giving rivals the chance to grab key personnel or businesses at a discount.

The more important an event, the more resistant it is to a simple, single, widely-accepted explanation

Regional bank shares slumped, dragging down the broader market, after Treasury Secretary Janet Yellen's comments and as Federal Reserve Chair Jerome Powell said he's prepared to keep raising rates until inflation shows signs of cooling.

Bigger, better, faster is a label all giant companies want, especially in the hyper-competitive space of managing money for wealthy clients.

SVB acquired Boston Private for $900 million in 2021 as part of its "vision is to be the premier financial partner for the innovation economy." 

Combining the two Swiss megabanks means more assets and a bigger brand for UBS. But it could be a heavy lift, slowing U.S. advisor recruitment.