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2023-03-24

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Regional Bank Stocks Start to Rebound After Yellen Says Tools Could Be Used Again -- Barrons.com

By Brian Swint Regional bank stocks were slightly higher early on Friday after Treasury Secreta

Regional Bank Stocks Start to Rebound After Yellen Says Tools Could Be Used Again -- Barrons.com

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Shares of $First Republic Bank(FRC-N)$ <a href=\"https://laohu8.com/S/FRC\">$(FRC)$</a> and <a href=\"https://laohu8.com/S/PACW\">PacWest Bancorp</a> (PACW), which have been in focus, climbed 1.2% and 2%, respectively. Western Alliance Bank <a href=\"https://laohu8.com/S/WAL\">$(WAL)$</a> also advanced 2%. \n</p>\n<p>\n     The Fed reported that banks continue to take advantage of emergency lending. Borrowing from its discount window was $110.2 billion as of Wednesday, lower than the record $152.9 billion a week ago but still higher than usual. Banks also increased borrowing from the new Bank Term Funding Program to more than $50 billion. \n</p>\n<p>\n     Yellen said in testimony to Congress Thursday: \"We have used important tools to act quickly to prevent contagion, and they are tools we could use again. The strong actions we have taken ensure that Americans' deposits are safe. Certainly, we would be prepared to take additional actions if warranted.\" \n</p>\n<p>\n     Yellen and Federal Reserve Chairman Jerome Powell have repeatedly asserted that consumer deposits in banks are safe, though in the week Yellen said she's not considering extending deposit insurance. Shares of regional banks, which are smaller than the biggest ones and not subject to the same regulations on capitalization, have been on a bumpy ride since the collapse of SVB and a few other midsize lenders. \n</p>\n<p>\n     Separately, Citizens Financial <a href=\"https://laohu8.com/S/CFG\">$(CFG)$</a>, one of the biggest regional banks, is working on a bid for the private banking business of SVB, Reuters reported, citing unidentified people familiar with the situation. Regulators are said to want to get a deal for SVB by Monday. \n</p>\n<p>\n     Citizens Financial didn't immediately respond to a request for comment early Friday morning. \n</p>\n<p>\n     Write to Brian Swint at brian.swint@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2023 05:07 ET (09:07 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Regional Bank Stocks Start to Rebound After Yellen Says Tools Could Be Used Again -- Barrons.com</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRegional Bank Stocks Start to Rebound After Yellen Says Tools Could Be Used Again -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-03-24 17:07</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Brian Swint \n</p>\n<p>\n  Regional bank stocks were slightly higher early on Friday after Treasury Secretary Janet Yellen said the emergency actions used to contain the fallout from Silicon Valley Bank could be used again if needed. \n</p>\n<p>\n     The SPDR S&amp;P Regional Banking exchange-traded fund (ticker: KRE) was up 0.3% in premarket trading Friday. Shares of $First Republic Bank(FRC-N)$ <a href=\"https://laohu8.com/S/FRC\">$(FRC)$</a> and <a href=\"https://laohu8.com/S/PACW\">PacWest Bancorp</a> (PACW), which have been in focus, climbed 1.2% and 2%, respectively. Western Alliance Bank <a href=\"https://laohu8.com/S/WAL\">$(WAL)$</a> also advanced 2%. \n</p>\n<p>\n     The Fed reported that banks continue to take advantage of emergency lending. Borrowing from its discount window was $110.2 billion as of Wednesday, lower than the record $152.9 billion a week ago but still higher than usual. Banks also increased borrowing from the new Bank Term Funding Program to more than $50 billion. \n</p>\n<p>\n     Yellen said in testimony to Congress Thursday: \"We have used important tools to act quickly to prevent contagion, and they are tools we could use again. The strong actions we have taken ensure that Americans' deposits are safe. Certainly, we would be prepared to take additional actions if warranted.\" \n</p>\n<p>\n     Yellen and Federal Reserve Chairman Jerome Powell have repeatedly asserted that consumer deposits in banks are safe, though in the week Yellen said she's not considering extending deposit insurance. Shares of regional banks, which are smaller than the biggest ones and not subject to the same regulations on capitalization, have been on a bumpy ride since the collapse of SVB and a few other midsize lenders. \n</p>\n<p>\n     Separately, Citizens Financial <a href=\"https://laohu8.com/S/CFG\">$(CFG)$</a>, one of the biggest regional banks, is working on a bid for the private banking business of SVB, Reuters reported, citing unidentified people familiar with the situation. Regulators are said to want to get a deal for SVB by Monday. \n</p>\n<p>\n     Citizens Financial didn't immediately respond to a request for comment early Friday morning. \n</p>\n<p>\n     Write to Brian Swint at brian.swint@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2023 05:07 ET (09:07 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","BK4211":"区域性银行","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","BK4589":"SVB概念","CFG":"Citizens Financial Group","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","PACW":"西太平洋合众银行","BK4588":"碎股","LU0106831901.USD":"贝莱德世界金融基金A2","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","BK4585":"ETF&股票定投概念","BK4548":"巴美列捷福持仓","WAL":"阿莱恩斯西部银行","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2321935181","content_text":"By Brian Swint \n\n\n  Regional bank stocks were slightly higher early on Friday after Treasury Secretary Janet Yellen said the emergency actions used to contain the fallout from Silicon Valley Bank could be used again if needed. \n\n\n     The SPDR S&P Regional Banking exchange-traded fund (ticker: KRE) was up 0.3% in premarket trading Friday. Shares of $First Republic Bank(FRC-N)$ $(FRC)$ and PacWest Bancorp (PACW), which have been in focus, climbed 1.2% and 2%, respectively. Western Alliance Bank $(WAL)$ also advanced 2%. \n\n\n     The Fed reported that banks continue to take advantage of emergency lending. Borrowing from its discount window was $110.2 billion as of Wednesday, lower than the record $152.9 billion a week ago but still higher than usual. Banks also increased borrowing from the new Bank Term Funding Program to more than $50 billion. \n\n\n     Yellen said in testimony to Congress Thursday: \"We have used important tools to act quickly to prevent contagion, and they are tools we could use again. The strong actions we have taken ensure that Americans' deposits are safe. Certainly, we would be prepared to take additional actions if warranted.\" \n\n\n     Yellen and Federal Reserve Chairman Jerome Powell have repeatedly asserted that consumer deposits in banks are safe, though in the week Yellen said she's not considering extending deposit insurance. Shares of regional banks, which are smaller than the biggest ones and not subject to the same regulations on capitalization, have been on a bumpy ride since the collapse of SVB and a few other midsize lenders. \n\n\n     Separately, Citizens Financial $(CFG)$, one of the biggest regional banks, is working on a bid for the private banking business of SVB, Reuters reported, citing unidentified people familiar with the situation. Regulators are said to want to get a deal for SVB by Monday. \n\n\n     Citizens Financial didn't immediately respond to a request for comment early Friday morning. \n\n\n     Write to Brian Swint at brian.swint@barrons.com \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 24, 2023 05:07 ET (09:07 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","news_type":1,"symbols_score_info":{"WAL":1,"FRC":0.9,"CFG":0.9,"PACW":0.9}},"isVote":1,"tweetType":1,"viewCount":1957,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}