Management told investors that deposits had fallen, but the bank’s shares jumped on the details of a shift in strategy and large cash infusion led by the former Treasury secretary Steven Mnuchin.
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Fed Chair Powell Signals a Retreat on Banking Rules
14:06, March 7, 2024
Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch, Ephrat Livni and Benjamin Mullin