JPMorgan Chase & Co. Chief Executive Jamie Dimon said industry turmoil sparked by the failure of Silicon Valley Bank last month is nothing like the 2008 financial crisis, but it will nonetheless have repercussions for years. In his annual letter to shareholders released Tuesday, the head of the country’s largest bank said the current crisis “involves far fewer financial players and fewer issues that need to be resolved” than in 2008, when $1 trillion worth of dodgy mortgages threatened to...

Rachel Louise Ensign and AnnaMaria Andriotis The biggest banks in the U.S. swooped in to rescue First Republic Bank FRC 9.98%increase; green up pointing triangle with a flood of cash totaling $30 billion, in an effort to stop a spreading panic following a pair of recent bank failures. The bank’s executives came together in recent days to formulate the plan, discussing it with Treasury Secretary Janet Yellen and other officials and regulators in Washington, D.C., people familiar with the...

Share Markets Financial Regulation Failure of real estate lender hobbled by crypto bet is third-largest in history Signature Bank SBNY -22.87%decrease; red down pointing triangle was closed by regulators on Sunday, the second massive bank failure in three days. The New York-based bank faced a crisis of confidence after midsize lender SVB Financial Corp. was seized by regulators on Friday. Signature was also reeling from a bet on crypto banking that foundered after the sector imploded and...

Barney Frank, the former congressman who gave his name to the landmark Dodd-Frank legislation after the 2008 financial crisis, said policymakers should increase the deposit insurance for business customers. Mr. Frank was a director at Signature Bank, which was closed by regulators on Sunday after what he said was a run on Friday. Both Signature and Silicon Valley Bank, which failed Friday, had a high concentration of corporate clients whose deposits exceeded the $250,000 FDIC protection...