From WSJopinion: Who killed SVB? Apparently no one at the firm perceived any risk from the Fed raising interest rates, writes andykessler
Journal Editorial Report: Paul Gigot interviews former Trump White House economist Kevin Hassett. Images: Bloomberg News/Zuma Press Composite: Mark KellyThat giant slurping sound on Friday was Silicon Valley Bank imploding. America’s 16th-largest bank had some $175 billion in deposits and disappeared by breakfast. It wouldn’t have happened if not for management mistakes. This was a 21st-century bank run—customers tried to withdraw about $42 billion, a quarter of all deposits.
Let’s go back. In January 2020, SVB had $55 billion in customer deposits on its balance sheet. By the end of 2022, that number exploded to $186 billion. Yes, SVB was a victim of its own success. These deposits were often from initial public offerings and SPAC deals—SVB banked almost half of all IPO proceeds in the last two years. Most startups had relationships with the bank.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Opinion: The Fed really needs to rethink more interest rate hikes as lower-income people sufferOpinion: The Fed really needs to rethink more interest rate hikes as lower-income people suffer [Opinion]
Weiterlesen »
Police: Wife, husband killed in Washington home by alleged stalker from TexasInvestigators say the suspect shot the husband and wife before apparently taking his own life.
Weiterlesen »
Lexus LFA Successor Rumored To Launch As A Hybrid, Then Morph Into An Electric Supercar | CarscoopsLexus LFA Successor Rumored To Launch As A Hybrid, Then Morph Into An Electric Supercar | Carscoops carscoops
Weiterlesen »
SVB's rescue means the Fed won't hike rates in March, says Goldman SachsOne casualty of regulators rescuing SVB depositors? There will be no March rate hike, says Goldman Sachs.
Weiterlesen »
Goldman Sachs doesn’t expect Fed to raise rates in March, citing bank chaosGoldman Sachs, a major investment bank, no longer thinks the Federal Reserve will hike interest rates this month, citing instability amid the collapse of Silicon Valley Bank.
Weiterlesen »
USD/MXN rallies sharply above $18.80 on SVB crisis, Fed rates repricingThe Mexican Peso (MXN) depreciates the most against the US Dollar (USD) on fears of a possible contagion after the failure of the Silicon Valley Bank
Weiterlesen »