Shares of U.S. regional lenders climbed on Wednesday, looking to break out of range-bound trading as an update on Western Alliance Bancorp's deposit levels soothed concerns that the banking crisis was getting worse.
A screen displays the logo and trading info for Western Alliance Bancorporation on the floor of the New York Stock Exchange in New York City, U.S., March 14, 2023. REUTERS/Brendan McDermid
Deposit insurance has become a thorny issue for regulators and banks alike. Panic among customers holding more than $250,000 per account - the upper limit of the Federal Deposit Insurance Corporation's guarantee - was a major reason for the demise of Silicon Valley Bank in March.
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