Overview
Our Distressed Banks and Emerging Legal Issues page includes resources and content related to the recent receiverships of Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank and the impacts on depositors, borrowers and the market.
View a list of our public events.
Additional Resources:
SVB Financial Group Files For Bankruptcy - U.S. Bankruptcy Court Southern District of New York (Manhattan) Bankruptcy Petition #: 23-10367-mg
SVB Financial Group Chapter 11 Petition
First Day Motions
Joint Statement by the Department of the Treasury, Federal Reserve, FDIC and OCC (March 16, 2023)
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC (March 12, 2023)
White House
March 17, 2023 Statement from President Joe Biden on Holding Senior Bank Executives Accountable
March 13, 2023 Remarks by President Biden on Maintaining a Resilient Banking System and Protecting our Historic Economic Recovery
March 12, 2023 Statement from President Joe Biden on Actions to Strengthen Confidence in the Banking System
Financial Stability Oversight Council
March 12, 2023 Meeting
Federal Reserve Board
March 19, 2023 Press Release on Coordinated Central Bank Action
March 13, 2023 Press Release on Vice Chair for Supervision Michael S. Barr Leading Review of SVB
March 12, 2023 Press Release on Bank Term Funding Program
Federal Deposit Insurance Corporation (FDIC)
First Republic Bank Purchase and Assumption Agreement
May 1, 2023 JPMorgan Chase Bank, National Association, Columbus, Ohio Assumes All the Deposits of First Republic Bank, San Francisco, California
Failed Bank Resource Page on First Republic Bank
April 28, 2023 FDIC Releases Report Detailing Supervision of the Former Signature Bank, New York, New York
March 26, 2023 Press Release on First-Citizens Bank & Trust Company, Raleigh, NC, to Assume All Deposits and Loans of Silicon Valley Bridge Bank, N.A., from the FDIC
March 19, 2023 Press Release on Subsidiary of New York Community Bancorp, Inc., to Assume Deposits of Signature Bridge Bank, N.A., From the FDIC
Flagstar Bank - Purchase & Assumption Agreement
Failed Bank Resource Page on Silicon Valley Bank
Frequently Asked Questions Page on Silicon Valley Bank
March 13, 2023 Press Release on Silicon Valley Bank
March 10, 2023 Press Release on Silicon Valley Bank
Failed Bank Resource Page on Signature Bank
Silicon Valley Bridge Bank Transfer Agreement
Signature Bank Transfer Agreement
Office of the Comptroller of the Currency (OCC)
March 20, 2023 OCC Conditionally Approves Flagstar Bank, N.A. to Purchase and Assume Deposits of Signature Bridge Bank, N.A.
March 13, 2023 Approved Application to Charter Silicon Valley Bridge Bank
March 12, 2023 Approved Application to Charter Signature Bridge Bank
U.S. Government Accountability Office (GAO)
April 28, 2023 Report on Bank Regulation: Preliminary Review of Agency Actions Related to March 2023 Bank Failures
Commodity Futures Trading Commission (CFTC)
March 16, 2023 Statement on Swaps Rules Implicated in Recent Bank Failures
California Department of Financial Protection and Innovation (DFPI)
May 8, 2023 Press Release Announcing Results from Review of the Supervision and Closure of Silicon Valley Bank
May 1, 2023 Press Release on First Republic Bank
March 10, 2023 Press Release on Silicon Valley Bank
New York Department of Financial Services (NYDFS)
March 12, 2023 Press Release on Signature Bank
Bank of England
March 13, 2023 Statement on Silicon Valley Bank
March 10, 2023 Statement on Silicon Valley Bank
