Lessons learnt: On the Silicon Valley Bank episode
1 year, 9 months ago

Lessons learnt: On the Silicon Valley Bank episode

The Hindu  

A faltering bank, this time on the U.S. West Coast, sparked a déjà vu moment across global markets last week as fears of a Lehman redux triggered sharp declines in banking stocks worldwide and saw investors make a beeline for safe haven assets such as gold. The Federal Deposit Insurance Corporation first took over the Silicon Valley Bank in California, and on Sunday took control of New York-based Signature Bank and in concert with the Federal Reserve and the Treasury Department announced that depositors in both the banks would be repaid in full. The bank had also invested extensively in a portfolio of U.S. Treasuries and mortgage bonds, which had as a result of the recent sharp interest rate increases by an inflation-battling central bank accumulated unrealised losses that became too costly to liquidate in a distress situation. The Reserve Bank of India’s guidelines of 2018 advising banks to create an Investment Fluctuation Reserve is just the kind of countercyclical tool that has relatively insulated Indian lenders from interest rate risks.

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How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe
10 months, 1 week ago

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe

Daily Mail  

Regional banks are doomed. BEWARE THE COMING REAL ESTATE IMPLOSION New York Community Bancorp made more headlines this week after reporting a surprise loss of $252 million on its commercial real estate loan portfolio in the fourth quarter of 2023 alone. Considering that small firms reportedly hold nearly 70 percent of $2.7 trillion in outstanding commercial real estate loans, it's …

CEOs of the nation’s biggest banks warn that new regulations could harm the economy
1 year ago

CEOs of the nation’s biggest banks warn that new regulations could harm the economy

Associated Press  

NEW YORK — The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the new proposals could negatively impact the economy at a time of geopolitical turmoil and inflation. Whereas in previous years the bank CEOs used …

Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them
1 year, 7 months ago

Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them

Associated Press  

NEW YORK — Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, instead using their time to assign blame to events they said were largely out of their control. Greg Becker, Silicon Valley Bank’s former CEO, took the brunt of the criticism from committee members, although …

Heads of failed banks refuse to accept blame, defend their pay and bonuses
1 year, 7 months ago

Heads of failed banks refuse to accept blame, defend their pay and bonuses

LA Times  

Gregory Becker, left, former CEO of Silicon Valley Bank, testifies with Scott Shay, former chairman and co-founder of Signature Bank, and Eric Howell, former president of Signature Bank, during a Senate hearing on Capitol Hill on Tuesday. Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, …

California bank regulator finds own faults in bank’s demise
1 year, 7 months ago

California bank regulator finds own faults in bank’s demise

Associated Press  

NEW YORK — California’s bank regulator said Monday that it was too slow to see the growing risks at Silicon Valley Bank and did not act forcefully enough to get the bank to fix its problems. A report from the California Department of Financial Protection and Innovation echoed similar findings in a Federal Reserve report looking at its own supervision …

California regulator cites social media, digital banking as key factors in Silicon Valley Bank’s failure
1 year, 7 months ago

California regulator cites social media, digital banking as key factors in Silicon Valley Bank’s failure

LA Times  

California’s chief banking regulator took its fair share of blame Monday for Silicon Valley Bank’s collapse, admitting that the department was slow to demand fixes at the troubled institution — too slow for an era in which social media and mobile banking could combine to drive an unprecedented run on the bank’s deposits. “While many internal factors made Silicon Valley …

Former CEOs of failed banks to testify before Senate panel
1 year, 7 months ago

Former CEOs of failed banks to testify before Senate panel

Associated Press  

WASHINGTON — The former top executives of two failed banks will testify before Congress this month as lawmakers dig into what caused a series of collapses at mid-sized financial institutions. The Senate Banking Committee indicated Tuesday that it will hold a hearing May 16 with Silicon Valley Bank’s former CEO, Gregory Becker, as well as Signature Bank’s former chairman and …

First Republic Bank sold to JPMorgan Chase: What you need to know
1 year, 7 months ago

First Republic Bank sold to JPMorgan Chase: What you need to know

Firstpost  

The federal government seized First Republic Bank and sold it to JPMorgan Chase on Monday, ending the lender’s six-week-long free fall and reassuring depositors that their money is safe. First Republic Bank’s failure had much the same roots as the collapses of Silicon Valley Bank and Signature Bank — spooked depositors and investors pulling their money and selling their shares …

FDIC recommends raising insured deposit limit for businesses
1 year, 7 months ago

FDIC recommends raising insured deposit limit for businesses

Associated Press  

NEW YORK — U.S. businesses might be able to secure bank deposit insurance for accounts holding more than $250,000 if Congress agrees with the Federal Deposit Insurance Corp.'s new proposal to ease the industry turmoil that has sparked three bank failures in the past two months. “The recent failures of Silicon Valley Bank and Signature Bank, and the decision to …

Here's what you need to know about bank failures
1 year, 7 months ago

Here's what you need to know about bank failures

Hindustan Times  

Recent turmoil in the banking industry may have you worried about your money. If you have over $250,000 in individual accounts at one bank, which most people don't, the amount over $250,000 is considered uninsured and experts recommend that you move the remainder of your money to a different financial institution, said Caleb Silver, editor in chief of Investopedia, a …

US regulators seize California's First Republic in latest banking failure
1 year, 7 months ago

US regulators seize California's First Republic in latest banking failure

Raw Story  

US financial authorities have taken possession of California's troubled First Republic Bank, which will be acquired by JPMorgan Chase, government regulators announced Monday in the latest banking failure. "To protect depositors, the FDIC is entering into a purchase and assumption agreement with JPMorgan Chase Bank, National Association, Columbus, Ohio, to assume all of the deposits and substantially all of the …

US Regulators Seize Assets Of First Republic Bank, To Be Sold To JPMorgan
1 year, 7 months ago

US Regulators Seize Assets Of First Republic Bank, To Be Sold To JPMorgan

ABP News  

First Republic Bank's assets were taken over by the US regulators and will be acquired by JPMorgan Chase after rescue efforts failed to undo the damage from wrong-way investments and depositor runs that have roiled regional lenders, news agency Bloomberg reported on Monday. BREAKING: First Republic Bank has officially been closed by regulators, making it the second biggest bank failure …

Regulators seize First Republic Bank, sell to JPMorgan Chase
1 year, 7 months ago

Regulators seize First Republic Bank, sell to JPMorgan Chase

The Hindu  

Regulators seized troubled First Republic Bank early on May 1 and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. The Federal Deposit Insurance Corporation said early on May …

Fed faults Silicon Valley Bank execs, itself in bank failure
1 year, 7 months ago

Fed faults Silicon Valley Bank execs, itself in bank failure

Associated Press  

WASHINGTON — The Federal Reserve blamed last month’s collapse of Silicon Valley Bank on poor management, watered-down regulations and lax oversight by its own staffers, and said the industry needs stricter policing on multiple fronts to prevent future bank failures. “While higher supervisory and regulatory requirements may not have prevented the firm’s failure, they would likely have bolstered the resilience …

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse
1 year, 7 months ago

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse

Live Mint  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have learned," Federal Reserve vice chair for supervision Michael Barr wrote in …

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report
1 year, 7 months ago

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report

News 18  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. “Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation based on what we have learned,” Federal Reserve vice chair for supervision Michael Barr wrote in …

Fed blames itself for Silicon Valley Bank collapse
1 year, 7 months ago

Fed blames itself for Silicon Valley Bank collapse

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Silicon Valley Bank failed …

First Republic Bank teeters on collapse as regulators circle troubled lender
1 year, 7 months ago

First Republic Bank teeters on collapse as regulators circle troubled lender

CBS News  

The Federal Deposit Insurance Corporation is set to seize control of First Republic Bank, according to multiple reports. Shares of the ailing regional bank cratered on Friday following a CNBC report that it is likely to be seized by federal financial regulators, putting it in jeopardy of becoming the third bank to collapse since Silicon Valley and Signature Bank failed …

First Republic may not survive, even after two multibillion-dollar bailouts
1 year, 7 months ago

First Republic may not survive, even after two multibillion-dollar bailouts

CNN  

New York CNN — First Republic Bank is in a fight for its survival. “It’s becoming clearer each day” that First Republic is “toast,” said Don Bilson at Gordon Haskett, in a note Wednesday. Investors who are buying First Republic stock are clinging to the hope “that a bailout package spearheaded by the largest US banks will leave something left …

First Republic clients pulled $100B in deposits during panic
1 year, 8 months ago

First Republic clients pulled $100B in deposits during panic

Associated Press  

NEW YORK — Depositors at First Republic Bank pulled more than $100 billion out of the bank during last month’s crisis, as fears swirled that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank. San Francisco-based First Republic said Monday that it was only able to staunch the bleeding after a …

Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent
1 year, 8 months ago

Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent

LA Times  

The collapse of Silicon Valley Bank raised questions anew about how and whether to bail out failed financial institutions. As investment manager and financial commentator Barry Ritholtz observed in his 2009 book “Bailout Nation,” the proper solution to the banking crisis was obvious: “Put the insolvent banks into FDIC receivership, fire management. “First,” he wrote, “there is something inherently unjust …

How the failure of Silicon Valley Bank might have affected the entire financial system
1 year, 8 months ago

How the failure of Silicon Valley Bank might have affected the entire financial system

Firstpost  

Research suggests that a run-on deposits at Silicon Valley Bank and Signature Bank could have set off a cascading series of bank failures, crippling small businesses and economic activity across wide parts of the country Washington: The federal government’s rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Biden administration and …

Profits at big US banks show few signs of industry distress
1 year, 8 months ago

Profits at big US banks show few signs of industry distress

Associated Press  

NEW YORK — The nation’s largest banks appear to be weathering the current turmoil in their industry just fine. Despite a pair of historical failures last month that put the nation’s banking industry into crisis mode, the nation’s biggest banks posted strong profits last quarter, helped by higher interest rates and a U.S. economy that keeps growing and adding jobs …

Profits at big US banks show few signs of industry distress
1 year, 8 months ago

Profits at big US banks show few signs of industry distress

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Despite a pair of historical …

GOP lawmakers accuse Fed of being lax before bank failure
1 year, 8 months ago

GOP lawmakers accuse Fed of being lax before bank failure

Associated Press  

WASHINGTON — Republican lawmakers accused top bank regulators Wednesday of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference. “That doesn’t sound like a very urgent supervisory process,” Rep. French Hill, an Arkansas Republican, said at Wednesday’s hearing of the House Financial Services Committee into …

Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses
1 year, 8 months ago

Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses

The Hindu  

Silicon Valley Bank has gone belly-up as has the Signature Bank in the U.S. in the last few weeks. Click to remove AMP mode Charts 1A and 1B show the extent of the unrealised losses that Silicon Valley Bank and First Republic Bank have been making of late as a result of a dramatic fall in bond values. In fact, …

US backstops Silicon Valley Bank sale to First Citizens
1 year, 8 months ago

US backstops Silicon Valley Bank sale to First Citizens

Live Mint  

U.S. regulators said on Monday they would backstop a deal for regional lender First Citizens BancShares to acquire failed Silicon Valley Bank, triggering an estimated $20 billion hit to a government-run insurance fund. First Citizens will assume Silicon Valley Bank's assets of $110 billion, deposits of $56 billion and loans of $72 billion as part of the deal. First Citizens …

Deal to buy Silicon Valley Bank calms bank fears, for now
1 year, 8 months ago

Deal to buy Silicon Valley Bank calms bank fears, for now

Associated Press  

NEW YORK — First Citizens Bank is buying much of Silicon Valley Bank, the tech-focused financial institution whose failure this month set off a chain reaction that helped rattle faith in banks around the world. “But losses are substantial: $20 billion is real money, even in Washington.” That $20 billion is referring to the loss the FDIC says its deposit …

First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know
1 year, 8 months ago

First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know

Live Mint  

The US-based First Citizens BancShares Inc. has reached an agreement to acquire Silicon Valley Bank, which was taken over by regulators after a wave of withdrawals from the lender. The acquisition will expand First Citizens' presence in the technology and innovation hub of Silicon Valley, and will make it one of the largest banks in the US. Earlier this month, …

First Citizens Bank will buy SVB’s deposits, loans from FDIC
1 year, 8 months ago

First Citizens Bank will buy SVB’s deposits, loans from FDIC

Live Mint  

First Citizens BancShares Inc said on Monday it will acquire Silicon Valley Bank's deposits and loans as well as certain other assets from the Federal Deposit Insurance Corporation. The FDIC said in separate statement it has received equity appreciation rights in First Citizens BancShares stock with a potential value of up to $500 million as part of the deal. First …

Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank
1 year, 8 months ago

Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank

India TV News  

SBV Crisis: North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world. Shares in mid-sized San Francisco-based First Republic Bank, which serves a similar clientele as Silicon Valley Bank and had appeared to be facing a similar crisis, surged 24.3% in …

Bank failures and rescue test Yellen’s decades of experience
1 year, 8 months ago

Bank failures and rescue test Yellen’s decades of experience

Associated Press  

WASHINGTON — Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the U.S. economy. Yellen spent that crucial period two weeks ago assembling Federal Reserve officials; regulators at the Federal Deposit Insurance Corp. and the Office of the Comptroller of …

Bank failures and rescue test Yellen's decades of experience
1 year, 9 months ago

Bank failures and rescue test Yellen's decades of experience

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Yellen spent that crucial period …

Yellen says US prepared to take more action to keep bank deposits safe
1 year, 9 months ago

Yellen says US prepared to take more action to keep bank deposits safe

Live Mint  

US Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further action to ensure that Americans' bank deposits stay safe amid turmoil in the banking system. "As I have said, we have used important tools to act quickly to prevent contagion," Yellen said in remarks to the U.S. House of Representatives Appropriations subcommittee hearing. Separately on …

Opinion: The Fed just raised interest rates. Does that mean there is no banking crisis?
1 year, 9 months ago

Opinion: The Fed just raised interest rates. Does that mean there is no banking crisis?

LA Times  

Do we have a banking crisis in the United States or don’t we? Also on Wednesday, Treasury Secretary Janet Yellen indicated that expanding deposit insurance is “not something that we’re considering” — and this is not what you would expect the country’s most experienced economic policymaker to say in a crisis. On Monday, Yellen said, “similar actions could be warranted …

How safe is my money in a US bank, and what happened with SVB depositors?
1 year, 9 months ago

How safe is my money in a US bank, and what happened with SVB depositors?

Live Mint  

In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. government backstopping all deposits at those firms, here is the state of play …

Federal Reserve Hikes Interest Rates Again, Despite Bank Failures
1 year, 9 months ago

Federal Reserve Hikes Interest Rates Again, Despite Bank Failures

Huff Post  

LOADING ERROR LOADING WASHINGTON ― The Federal Reserve on Wednesday continued to ramp up its efforts to slow the economy, despite recent bank failures caused partly by rising interest rates. “The Fed’s decision to raise rates is incongruous with efforts to reestablish the stability of the financial system,” Mark Zandi, chief economist with financial analysis firm Moody’s Analytics told HuffPost …

First Republic Bank shares slide in volatile trading session
1 year, 9 months ago

First Republic Bank shares slide in volatile trading session

Associated Press  

Shares of First Republic Bank fell another 47% Monday as investors remain uneasy about the bank’s financial condition even after a group of the nation’s largest financial institutions teamed up on a $30 billion rescue package. The FDIC said Monday that there’s been “substantial interest” from multiple parties for Silicon Valley Bridge Bank. The agency said it’s going to allow …

Silicon Valley Bank's parent company cut off from bank's records
1 year, 9 months ago

Silicon Valley Bank's parent company cut off from bank's records

Firstpost  

SVB Financial, the bankrupt parent company of Silicon Valley Bank, has lost access to its financial records after the bank was placed into receivership by the Federal Deposit Insurance Corporation, according to court documents filed in Manhattan on Sunday. But its Chapter 11 bankruptcy has gotten off to a “challenging” start due to a breakdown in cooperation with the bridge …

US sees bank deposits stabilise even as some regional banks reel
1 year, 9 months ago

US sees bank deposits stabilise even as some regional banks reel

Al Jazeera  

Deposits in the country’s banking system are stabilising, Reuters reported, citing an unnamed US official. A United States official has said that the deposit outflows that left many regional banks reeling in the wake of Silicon Valley Bank’s failure had slowed and in some cases reversed, even as investors were trying to ascertain whether the crisis was contained. Shares of …

FDIC said to move toward breakup plan for Silicon Valley Bank
1 year, 9 months ago

FDIC said to move toward breakup plan for Silicon Valley Bank

Live Mint  

US regulators are moving toward a breakup solution for Silicon Valley Bank after failing to line up a suitable buyer for the entire company, according to people familiar with the matter. The Federal Deposit Insurance Corp. is now seeking to sell the failed bank in at least two parts, said the people, who asked to not be identified because the …

Bank failures: Anger in Congress, but division on what to do
1 year, 9 months ago

Bank failures: Anger in Congress, but division on what to do

Associated Press  

WASHINGTON — Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. “There’s people who are going to choose bills, but I cannot imagine that, with the hold banks have on Republican members of Congress, that we can pass anything significant,” said Sen. Sherrod Brown, D-Ohio, chairman …

The global banking turmoil explained; what’s happening at SVB, Credit Suisse
1 year, 9 months ago

The global banking turmoil explained; what’s happening at SVB, Credit Suisse

Live Mint  

It all started on 10 March, 2023 after Startup-focused lender SVB Financial Group became the largest bank failure since the financial crisis, in a sudden collapse that roiled global markets and stranded billions of dollars belonging to companies and investors. At least four major banks, including Societe Generale and Deutsche Bank, are restricting new trades involving Credit Suisse or its …

Will Americans End Up Footing The Bill For Bank Failures?
1 year, 9 months ago

Will Americans End Up Footing The Bill For Bank Failures?

Huff Post  

LOADING ERROR LOADING WASHINGTON — The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. If necessary, the insurance fund will be replenished by a “special assessment” on banks, the FDIC, Fed and Treasury said in a joint statement. “No losses associated with the resolution of Silicon Valley Bank will be borne …

What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast
1 year, 9 months ago

What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast

The Hindu  

Last week, California-based Silicon Valley Bank, the 16th largest bank in the United States, collapsed, sending shock waves through the start-up universe. The Biden administration has announced that all the depositors’ savings in the Silicon Valley Bank will be protected, including those deposits over and above the sums that are insured. The Federal Reserve, on its part, has unveiled a …

Explained | What’s next for Silicon Valley Bank?
1 year, 9 months ago

Explained | What’s next for Silicon Valley Bank?

The Hindu  

The story so far: The collapse of the California-headquartered Silicon Valley Bank in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. This morning, the Government and the Bank of England facilitated a private sale …

Will Americans end up footing the bill for bank failures?
1 year, 9 months ago

Will Americans end up footing the bill for bank failures?

LA Times  

The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. Here are some questions and answers about the cost of the bank collapses: Business Everything to know about Silicon Valley Bank’s spectacular collapse Silicon Valley Bank failed late last week, prompting fears of wider upheaval. “That’s far more significant than the modest …

Experts, banks look for ideas to stop next bank failure
1 year, 9 months ago

Experts, banks look for ideas to stop next bank failure

Associated Press  

WASHINGTON — The warning signs were all there. “The great mystery here is why the supervision was AWOL at Silicon Valley Bank.’’ The search for causes and culprits — and solutions — is refocusing attention on a 2018 federal law that rolled back tough bank regulations put in place after the 2008-2009 financial crisis and, perhaps even more, on the …

Explained: Was Signature Bank a victim of panic after the collapse of Silicon Valley Bank?
1 year, 9 months ago

Explained: Was Signature Bank a victim of panic after the collapse of Silicon Valley Bank?

Firstpost  

Signature Bank’s collapse came stunningly fast, leaving behind the question of whether there was a fundamental flaw in the way it did business — or if it was just a victim of the panic that spread after the failure of Silicon Valley Bank. By the same measure, it was also the third largest US bank to fail, after Washington Mutual’s …

Silicon Valley Bank Collapse: Amid Global Reset, Can Indian Markets Bounce Back?
1 year, 9 months ago

Silicon Valley Bank Collapse: Amid Global Reset, Can Indian Markets Bounce Back?

The Quint  

SVB bank may be a relatively unknown bank in India, but it was the 16th largest bank in the USA with banking assets of about USD 212bn. Till the time VCs were funding, the starts-ups deposits kept on increasing, SVP parked their surplus deposits in long-dated low-yielding bonds about USD 54bn! So they never hedged their interest rate risks even …

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