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US regulators have hit 11 Wall Street companies with $289 million in fines for widespread record-keeping failures stemming from their use of private messaging apps such as WhatsApp, the Securities and Exchange Commission (SEC) said on Tuesday

The US Federal Reserve Board of Governors said in a statement on Thursday that they have officially launched its FedNow instant payment service, which will initially be open to banks and credit unions as the system expands

The collapse of First Republic Bank is yet another proof that the American economy is slowly but steadily going into recession, Gary Korolev, the CEO of Sovereign Wealth Management, told Sputnik

The US Federal Reserve announced on Thursday that its board fined Wells Fargo bank $67.8 million for inadequate oversight of sanctions compliance risks that resulted in more than $530 million worth of prohibited transactions between 2010 and 2015

Treasury Secretary Janet Yellen stressed on Thursday that the banking system in the United States is "safe and sound" as the country's biggest bank JPMorgan Chase pulled other lenders together in cobbling a rescue plan for beleaguered First Republic Bank

Financial markets around the world have lost about $465 billion over two days amid volatility associated with the closure of several banks in the United States, including Silicon Valley Bank (SVB), Bloomberg reported on Tuesday

US banks are expected to be on firmer footing in 2023 after a generally weak quarter at the end of last year as financial institutions built loan loss reserves while normalizing credit losses, Fitch Ratings said on Tuesday