Learn how the FDIC and state regulators had the legal authority to shut down Silicon Valley Bank (SVB) and Signature Bank and why they did it. This course will examine the facts, not the rumors. Delve into the source of SVB’s liquidity problems with a special focus on the purchase of long-term, fixed-rate securities and the effect of classifying them as held to maturity (HTM) rather than available for sale (AFS).
This course will also explore some common myths about who should have known what and when they should have known it. The session will help you address the concerns of your clients about the two bank closures and the risks to the industry for a while.
Learning Objectives:
Gallet Dreyer & Berkey, LLP
Partner
[email protected]
(212) 935-3131
Mr. Hack’s primary practice focus is providing a full range of legal services to banks and other financial institutions.
His broad-based financial institutions practice addresses a full range of legal needs for banks and other regulated institutions. He has chartered numerous de novo banks and has prepared stock offering materials to satisfy both FDIC and SEC requirements to raise capital in public and private offerings for both new and seasoned companies. He regularly assists clients in addressing complex regulatory issues and in dealing with examination report criticisms. On the retail banking side, he helps develop documentation for cutting-edge bank services to satisfy federal and state regulations in fields as varied as cybersecurity, BSA/AML compliance, and remote transaction security procedures. For over 40 years, he has been a leader in negotiating data processing contracts and core system conversions with almost every major data processing service provider. On the lending side, he negotiates and documents complex multi-national trade finance transactions as well as more conventional domestic commercial mortgage loans and commercial construction loans.
He also supports other practice areas within the firm by bringing his extensive knowledge of banking transactions and banking law to the table when clients need assistance in matters involving money, finance, and securities transactions.
His Professional Associations & Memberships include the following: New York State Bar Association, Executive Committee Member and Former Chair: Business Law Section, Co-Chair of Wine Beer and Spirits Law Committee: NYS Bar Association, and Member: Banking Law Committee.
Gallet Dreyer & Berkey, LLP is considered to be one of New York City’s leading law firms. Our attorneys have earned the highest client review rating possible from Martindale-Hubbell®. This rating is only earned by attorneys with the foremost legal skills and highest ethical standards.
Each of our partners is greatly respected in his or her area of practice. As a result, we are able to provide clients with a superior work product rivaling that of larger firms, while maintaining the reasonable rates and personalized service of a smaller firm.