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The Latest Breaking News from Silicon Valley Bank

Allison Schrager: Don't make the same mistake as SVB with your 401(k)

The poor risk management at Silicon Valley Bank is stunning. But what went wrong is actually pretty common. There is often confusion about what makes a safe asset versus a risky one, and guessing wrong is often at the core of financial blow-ups. Safe assets, as we properly define them,…

Tribune News Service

‘A huge disruption’: Startups worldwide gird for life after SVB

Quang Hoang, the co-founder of a startup called Birdly Inc., spent his Monday refreshing the website of Silicon Valley Bank every hour. His San Francisco-based mentoring startup had about $10 million deposited with the now-failed financial institution, patronized by a large portion of the country’s most promising tech companies. But…

Tribune News Service

Justice Dept, SEC probing collapse of Silicon Valley Bank

The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, a person familiar with the matter told The Associated Press

The Independent UK

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Bank of America has raked in $15 billion in new deposits after SVB collapse

Sources familiar with the matter say former Silicon Valley Bank customers are looking to put their money in the safest institution possible.

Fortune

More than £75bn wiped off FTSE 100 amid Credit Suisse crisis

Swiss bank’s shares fall to record low as top shareholder Saudi National Bank rules out more funding

The Guardian - UK

It's time for CFOs to 'adjust their burn profile' and make available cash last two years

Managing risk and cash flow are top of mind amid bank failures.

Fortune

VCs helped bring down SVB. The bank's new CEO wants them to save it

SVB’s new CEO held calls with clients to lay out potential outcomes.

Fortune

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Why failed Silicon Valley Bank was an outlier

The ratio that made it more vulnerable to a run.

Axios

Be serious, conservatives. ‘Wokeness’ didn’t cause Silicon Valley Bank’s demise

The right is claiming that political correctness – not capitalism – caused this financial catastrophe. Really?

The Guardian - US

How the last banking tumult fuels today's populist politics

Mike Pence and Bernie Sanders are hardly political allies

The Independent UK

Ohio sues Norfolk Southern rail company over derailment

After a disastrous derailment in East Palestine, Ohio on February 3, the US state's attorney general has filed a lawsuit against the Norfolk Southern rail company, saying it prioritises profits over people. The state is seeking to hold the railroad financially accountable for the accident. Also in this edition, media…

France 24

Wineries to affordable housing: SVB fall knocks out more than startups

Demise of Silicon Valley Bank has rattled not just businesses and investors but the ecosystem that grew up around it

The Guardian - US

Cathie Wood: regulators missed 'crisis looming in plain sight'

The tech investor argued that problems in traditional banking hurt cryptocurrencies, not the other way around.

Fortune

Joe Battenfeld: Bank failures fueling insecurity and angst among American voters

The collapse of Silicon Valley Bank and two other large banks is fueling economic insecurity and angst among an already rattled American public and is prompting a major damage control effort by President Joe Biden.

Boston Herald

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Los Angeles Times

Commentary: Beyond saving Silicon Valley Bank’s depositors, here’s what needs to happen next

Before Thursday, Silicon Valley Bank was regarded as being in “sound financial condition.” But on that day it experienced attempted withdrawals of $42 billion, about a third of its U.S. deposits. By close of business, the run on the bank made it incapable of paying its obligations as they came…

Fortune

Housing market stares down 2 shifts in the wake of SVB's collapse, says Zillow

Zillow chief economist gives two predictions for how the shutdown of Silicon Valley Bank could impact the housing market in 2023.

WEKU

For 40 years, Silicon Valley Bank was a tech industry icon. It collapsed in just days

Silicon Valley Bank was not a household name. For four decades, SVB successfully competed with big name financial institutions only to come crumbling down in a matter of days.

Salon

Why SVB, Signature Bank failed so fast

The failures at SVB and Signature were two of the three biggest in U.S. banking history

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Tribune News Service

Editorial: Silicon Valley Bank and Signature Bank collapses show regulation is needed

After Friday’s collapse of Silicon Valley Bank, big bankers are again looking to Washington with outstretched hands. We should be skeptical.

Al Jazeera

Why Silicon Valley Bank’s collapse put the spotlight on Trump

The 2018 partial rollback of US’s Dodd-Frank is under renewed scrutiny following the failure of California-based lender.

The Independent UK

SVB collapse – latest: Credit Suisse to borrow £44.5bn after crash amid fears of economic crisis

Collapse of Silicon Valley Bank (SVB) marks biggest US bank failure since Washington Mutual during 2008 financial crisis

The Independent UK

Washington reacts on the fly to Silicon Valley Bank failure

After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step of guaranteeing all the deposits of the failed Silicon Valley Bank — even those exceeding the Federal Deposit Insurance Corporation's $250,000 limit

The Independent UK

Gallego slams Sinema over 2018 bank deregulation vote

Democratic Rep. Ruben Gallego is slamming independent Sen. Kyrsten Sinema for backing a bank deregulation bill he says contributed to the collapse of Silicon Valley Bank

Los Angeles Times

Did deregulation lead to Silicon Valley Bank's collapse?

It was a scene straight out of the Great Depression: a major California bank locking its doors and pulling down the shades as a horde of panicky depositors demanded their money.

Tribune News Service

Despite rescue, Seattle startups and banks face SVB blowback

Seventy-two hours after the stunning failure of Silicon Valley Bank, federal action means Seattle-area tech and wine industry companies can have access to millions of dollars frozen in SVB accounts.

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