Closing post
Speaking of going home from work….. it’s time to wrap up.
Our US politics Live blog is tracking the latest developments on Silicon Valley Bank, here:
So here are our main stories on the banking crisis today:
Updated
Nils Pratley: Relief in the UK over Silicon Valley Bank. Panic in the US
The fallout from the failure of SVB, plus the closure of Signature Bank, could get a lot worse yet, my colleague Nils Pratley warns, writing:
The good news is that it took only a long weekend to find a fix – a good one – for the UK end of the doomed Silicon Valley Bank. Our tech executives can stop writing emotional pleas to the chancellor about their unique importance to the nation’s prosperity.
The bad news is that US regulators’ solution for the very much larger parent bank raised more questions than it answered. The fallout from the failure of SVB, plus the closure of Signature Bank, could get a lot worse yet.
