Elizabeth Warren: 'We know who's responsible' for startling SVB implosion
1 year, 9 months ago

Elizabeth Warren: 'We know who's responsible' for startling SVB implosion

Raw Story  

It's no secret what caused the sudden implosion of the once-mighty Silicon Valley Bank, Sen. Elizabeth Warren wrote Monday in a New York Times op-ed. The name of a key person behind the mess starts with a "T" — but he was backed by members of both parties who worked to weaken bank regulations aimed at protecting customers and the nation, Warren argued. "Regulators, including Federal Reserve chair Jerome Powell, then made a bad situation worse, letting financial institutions load up on risk," she added. IN OTHER NEWS: Raskin accuses GOP Oversight chairman of coordinating with Trump's lawyers 'to bury evidence' On Friday, executives of SVB were "busy paying out congratulatory bonuses hours before the Federal Deposit Insurance Corporation rushed in to take over their failing institution" — leaving countless businesses with accounts "alarmed that they wouldn’t be able to pay their bills and employees," Warren continued.

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History of this topic

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 …

Big bank CEOs warn that new regulations may severely impact economy
1 year ago

Big bank CEOs warn that new regulations may severely impact economy

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. The CEOs of JPMorgan Chase, …

Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says
1 year, 5 months ago

Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says

CNN  

Washington, DC CNN — Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse. “We can raise this — and by ‘we’ I mean the system, not me because again, I don’t play an active role in supervision — …

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 …

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 …

Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse
1 year, 7 months ago

Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse

Live Mint  

The Federal Reserve’s banking supervisors failed to take forceful action to address growing problems at Silicon Valley Bank before it collapsed last month, the central bank’s top regulator said, signaling a broad push to toughen rules on the industry. Yet another report on Friday from the Government Accountability Office, a congressional watchdog, said regulators identified problems at both banks in …

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 …

Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says
1 year, 7 months ago

Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says

Huff Post  

LOADING ERROR LOADING WASHINGTON ― After the failure of Silicon Valley Bank in March, Senate Banking Committee member Sen. John Kennedy asked on the Senate floor, “Where were the regulators?” On Friday, the regulators responded ― with a reminder that Kennedy and other lawmakers told them to go easy on institutions like Silicon Valley Bank. In a lengthy and highly …

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 …

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse
1 year, 7 months ago

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse

Hindustan Times  

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. US Federal Reserve admits to failings in Silicon Valley Bank oversight "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have …

Regulators to Publish Postmortems on Silicon Valley Bank, Signature Failures
1 year, 7 months ago

Regulators to Publish Postmortems on Silicon Valley Bank, Signature Failures

Live Mint  

Washington regulators plan to release postmortems of their oversight of Silicon Valley Bank and Signature Bank before they abruptly collapsed last month, potentially highlighting missteps by both banks’ management and their federal supervisors. FDIC Chairman Martin Gruenberg recently said that banks with large amounts of uninsured deposits face challenges, “particularly in today’s environment where money can flow out of institutions …

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

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 …

Dimon: Bank rules should change after Silicon Valley Bank
1 year, 8 months ago

Dimon: Bank rules should change after Silicon Valley Bank

Associated Press  

NEW YORK — JPMorgan CEO Jamie Dimon said the U.S. and the banking industry should amend regulations following the collapse of Silicon Valley Bank and Signature Bank last month, saying that the financial system needs to be adjusted so that one bank’s failure does not “cause undue panic and financial harm.” The comments, made in Dimon’s letter to JPMorgan Chase …

White House skirts Congress to push new regional bank rules
1 year, 8 months ago

White House skirts Congress to push new regional bank rules

Daily Mail  

The Biden administration proposed a list of new bank measures Thursday that it says can be done without the help of Congress and will reverse some of the regulatory rollbacks made during the Trump-era. The White House said it would like to see midsized banks hold more liquid assets, increase their capital, submit to regular stress tests and write 'living …

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, …

Fed official: Bank rules under review in wake of SVB failure
1 year, 8 months ago

Fed official: Bank rules under review in wake of SVB failure

Associated Press  

WASHINGTON — The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said Tuesday, but its managers failed to take the steps necessary to fix the problems. The Fed official, Michael Barr, the nation’s top banking regulator, said during a Senate …

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 …

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 …

Column: The Fed’s anti-inflation work is almost done, with an assist from the banking crisis
1 year, 9 months ago

Column: The Fed’s anti-inflation work is almost done, with an assist from the banking crisis

LA Times  

The Federal Reserve Board may owe the banking crisis a thank-you note. — Joseph Brusuelas, RSM Long before Wednesday’s meeting of the Fed’s rate-setting open market committee, however, some experts were urging that the central bank pause and take time to assess how the prior rate hikes were affecting inflation and economic growth. Fed-watchers, who parse the central bank’s statements …

Silicon Valley Bank’s demise animates early days of California’s 2024 U.S. Senate contest
1 year, 9 months ago

Silicon Valley Bank’s demise animates early days of California’s 2024 U.S. Senate contest

LA Times  

With a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts. For the record: An earlier version of this story misquoted Rep. Adam Schiff saying, “The economic issues and the democracy issues are …

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 …

Washington turns to Wall Street to help rescue dying bank
1 year, 9 months ago

Washington turns to Wall Street to help rescue dying bank

Associated Press  

The scene was reminiscent of the last financial crisis, nearly 15 years ago: Faced with a blossoming emergency in the banking sector, worried regulators and policymakers in Washington turned to Wall Street for help. Treasury Secretary Janet Yellen discussed the idea of supporting First Republic with other bank regulators — the Federal Reserve, the Federal Deposit Insurance Corp. and the …

Biden calls for tougher penalties for execs of failed banks
1 year, 9 months ago

Biden calls for tougher penalties for execs of failed banks

Associated Press  

WASHINGTON — President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. “Congress must act to impose tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing.” https://apnews.com/article/business-united-states-government-signature-bank-financial-services-first-republic-76e85af430ca42808eb4d7925fe06c4d Currently the …

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 …

Warren goes off on Jerome Powell during Senate Finance hearing: He aimed a ‘flamethrower’ at banking rules
1 year, 9 months ago

Warren goes off on Jerome Powell during Senate Finance hearing: He aimed a ‘flamethrower’ at banking rules

Raw Story  

Elizabeth Warren on Thursday blamed Federal Reserve Chair Jerome Powell and lawmakers who enabled him for relaxing regulations that she said led to Silicon Valley Bank’s collapse last week. “I am grateful for the administration’s steady hand, but we shouldn’t have had to be here in the first place,” Warren initially said before taking aim at Powell and lawmakers on …

Republicans Accept No Blame For Bank Failures After They Voted To Deregulate Banks
1 year, 9 months ago

Republicans Accept No Blame For Bank Failures After They Voted To Deregulate Banks

Huff Post  

LOADING ERROR LOADING WASHINGTON — Senate Republicans insist that the bank deregulation bill Donald Trump signed into law five years ago had nothing to do with the bank failures that caught regulators off guard this month. “And if they chose not to do it, that’s gonna be a really good question based on the activities of Silicon Valley.” Sen. Kevin …

Justice Dept, SEC probing collapse of Silicon Valley Bank
1 year, 9 months ago

Justice Dept, SEC probing collapse of Silicon Valley Bank

Associated Press  

The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, two people familiar with the matter told The Associated Press on Wednesday. The collapse of Silicon Valley Bank on Friday — the largest bank failure since the financial crisis of 2008 — and Signature Bank two days later have rattled markets …

Silicon Valley Bank Collapse: How Washington ended up rescuing US banks
1 year, 9 months ago

Silicon Valley Bank Collapse: How Washington ended up rescuing US banks

Firstpost  

Washington: After the sudden collapse of Silicon Valley Bank, California Democratic Representative Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp officials told Republican senators Monday that they received offers for the bank over the weekend but didn’t …

Signature Bank investigated for criminal activities prior to collapse
1 year, 9 months ago

Signature Bank investigated for criminal activities prior to collapse

Hindustan Times  

US prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend, according to people familiar with the matter. Justice Department investigators in Washington and Manhattan were examining whether the New York bank took sufficient steps to detect potential money laundering by clients — such as scrutinizing people opening accounts and monitoring transactions …

How Washington came to rescue US banks
1 year, 9 months ago

How Washington came to rescue US banks

Associated Press  

WASHINGTON — After the sudden collapse of Silicon Valley Bank, California Democratic Rep. Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp. officials told Republican senators Monday that they received offers for the bank over the weekend but …

Silicon Valley Bank collapse: 96 hours after biggest US bank failure in 15 years
1 year, 9 months ago

Silicon Valley Bank collapse: 96 hours after biggest US bank failure in 15 years

Hindustan Times  

The U.S. government launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank, the largest bank collapse since the 2008 financial crisis. THURSDAY, MARCH 9 As U.S. Treasury Secretary Janet Yellen prepares for a Friday hearing before the Republican-controlled House Ways and Means Committee, investors are raising concerns about a …

Silicon Valley Bank crisis: Fed faces flak for ‘missing’ warning signs| 5 points
1 year, 9 months ago

Silicon Valley Bank crisis: Fed faces flak for ‘missing’ warning signs| 5 points

Hindustan Times  

The Silicon Valley Bank collapse continues to dominate headlines in the financial world. The bank's new chief executive officer Tim Mayopoulos has urged the lender's top venture capitalists to move their deposits to its newly created bridge entity, Reuters reported. This comes a day after the Moody's Investors Service downgraded First Republic Bank and five other lenders, citing concerns over …

Timeline: How US gov’t scrambled as Silicon Valley Bank collapsed
1 year, 9 months ago

Timeline: How US gov’t scrambled as Silicon Valley Bank collapsed

Al Jazeera  

Biden administration quickly put emergency measures in place as SVB failed. The United States government launched emergency measures at the weekend to shore up confidence in the banking system after the failure of Silicon Valley Bank, the largest bank collapse since the 2008 financial crisis. Here’s a look at how things unfolded: March 9 As US Treasury Secretary Janet Yellen …

“Threatening our entire economy”: Warren introduces bill to repeal “Trump’s bank law”
1 year, 9 months ago

“Threatening our entire economy”: Warren introduces bill to repeal “Trump’s bank law”

Salon  

This article originally appeared at Common Dreams. Sen. Elizabeth Warren and Rep. Katie Porter unveiled legislation Tuesday to repeal the section of a Trump-era law that weakened regulations for banks with between $50 billion to $250 billion in assets, a move that experts and lawmakers have blamed for the collapse of Silicon Valley Bank and the resulting turmoil. "In 2018, …

Fed criticized for missing red flags before bank collapse
1 year, 9 months ago

Fed criticized for missing red flags before bank collapse

Associated Press  

WASHINGTON — The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into the second-largest bank failure in U.S. history. Now the consequences of the fall of Silicon Valley Bank, along with New York-based Signature Bank, which failed over the weekend, are complicating the Fed’s …

Banking stocks steady in aftermath of Silicon Valley Bank collapse
1 year, 9 months ago

Banking stocks steady in aftermath of Silicon Valley Bank collapse

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 Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Banking stocks steadied on Tuesday …

Silicon Valley Bank Collapse: How can you protect your money if your bank fails?
1 year, 9 months ago

Silicon Valley Bank Collapse: How can you protect your money if your bank fails?

Firstpost  

Customers of Silicon Valley Bank aren’t going to lose any of their deposits. According to the FDIC, if another financial institution acquires the failed bank right away, the deposits should land in your new account without incident. A married couple with a joint brokerage account — as well as two individual brokerage accounts at the same firm — would receive …

Silicon Valley Bank parent, CEO and CFO are sued by shareholders. Here's why
1 year, 9 months ago

Silicon Valley Bank parent, CEO and CFO are sued by shareholders. Here's why

Hindustan Times  

SVB Financial Group and two top executives were sued on Monday by shareholders who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit, which failed last week, "particularly susceptible" to a bank run. It appeared to be the first of many likely lawsuits over the demise of Silicon Valley Bank, which U.S. regulators seized …

Silicon Valley Bank crisis: Did bank regulators, investors ignore warning signs?
1 year, 9 months ago

Silicon Valley Bank crisis: Did bank regulators, investors ignore warning signs?

Hindustan Times  

With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. Banking experts have been among those alarmed at the rapid collapse of SVB, the country's 16th biggest bank by assets and how its demise became a harbinger of Sunday's failure of another lender, Signature Bank. …

Government races to reassure US that banking system is safe
1 year, 9 months ago

Government races to reassure US that banking system is safe

Associated Press  

NEW YORK — Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall. Just because the government covered for Silicon Valley Bank and Signature Bank “doesn’t mean they are going to cover for …

SVB’s demise: Why didn’t US bank regulators see it coming?
1 year, 9 months ago

SVB’s demise: Why didn’t US bank regulators see it coming?

Live Mint  

With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. President Joe Biden promised a "full accounting of what happened," adding that he would ask regulators and banking regulators to tighten rules on the sector. Banking experts have been among those alarmed at the rapid …

Silicon Valley Bank execs, parent company sued after collapse
1 year, 9 months ago

Silicon Valley Bank execs, parent company sued after collapse

Al Jazeera  

Silicon Valley Bank’s parent company and two senior executives are facing a class-action lawsuit in the United States, where shareholders have accused the financial institution of failing to disclose the risks that anticipated interest rate hikes would have on its business. The lawsuit, which accuses SVB of violating federal securities laws, noted that the Federal Reserve, the US central bank, …

Why did Silicon Valley Bank fail and is a financial crisis next?
1 year, 9 months ago

Why did Silicon Valley Bank fail and is a financial crisis next?

Al Jazeera  

Economists see Lehman Brothers-style crisis as unlikely despite jitters following collapse of California-based lender. On Friday, United States regulators seized the assets of the Santa Clara, California-based bank after depositors began withdrawing funds en masse amid fears over the lender’s financial health. Since then, financial regulators around the world have raced to contain the fallout of SVB’s collapse, the biggest …

Markets panic as Silicon Valley Bank fallout keeps spreading
1 year, 9 months ago

Markets panic as Silicon Valley Bank fallout keeps spreading

The Telegraph  

Despite specific concerns about these lenders, a domino effect-style crisis of the type seen in 2008 is unlikely given the mechanics of the SVB collapse are sufficiently different. Analysts at JP Morgan concluded: “SVB carved out a distinct and riskier niche than other banks, setting itself up for large potential capital shortfalls in case of rising interest rates, deposit outflows …

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