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The Latest Breaking News from Silicon Valley Bank

SVB collapse — latest news: Silicon Valley Bank ‘open for business’ says new CEO as Moody’s US bank view dims

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

The Independent UK

Silicon Valley Bank collapse: Financial stocks lose $465 billion globally

Global financial stocks have lost $465 billion in market value so far as investors cut exposure to lenders from New York to Japan in the wake of Silicon Valley Bank’s collapse.

The Times of India

Why another high inflation report may not cause Fed to hike

The government inflation report being released Tuesday is expected to show that price acceleration in the United States remained chronically high in February, putting the Federal Reserve in an unusually tough position

The Independent UK

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Silicon Valley Bank's demise disrupts the disruptors in tech

Silicon Valley Bank’s collapse rattled the technology industry that had been the bank’s backbone, leaving shell-shocked entrepreneurs thankful for the government reprieve that saved their money while they mourned the loss of a place that served as a chummy club of innovation

The Independent UK

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

Economists see Lehman Brothers-style crisis as unlikely despite jitters following collapse of California-based lender.

Al Jazeera

Biden says banking system is safe, promises accountability for Silicon Valley Bank failure

WASHINGTON — “This is not 2008”: That was the mantra of Biden administration officials Monday as they sought to reassure investors and the public that a regulatory takeover of two failed banks and rescue of their depositors, along with newly implemented safeguards, would be enough to avert a broader crisis…

Los Angeles Times

Washington tries to contain chaos from Silicon Valley Bank’s failure

Analysts say there is little chance of a wider banking crisis after the failure of Silicon Valley Bank, as the banking system is well-capitalized and passed stress testing.

Chicago Sun-Times

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SVB’s other businesses are on the block: What’s for sale and who may be a buyer?

SVB Financial named a restructuring committee to seek out alternatives for its non-banking units.

Fortune

Startups 'on pins and needles' until their funds clear from Silicon Valley Bank

Silicon Valley Bank's collapse left startups scrambling to figure out how to make payroll, or even just get checks printed.

WEKU

What the papers say – March 14

Gary Lineker and the BBC, Gary Glitter, and the fallout from the collapse of Silicon Valley Bank feature on the front pages.

The Independent UK

Michael Hiltzik: With demands for a bank bailout, Silicon Valley shows its 'small government' mantra was just a pose

For decades, the dominant mantra of Silicon Valley's powerful has been that government is just a drag on their innovative spirit. Get regulators off our backs, they've argued, and we'll improve people's lives to an indescribable degree.

Los Angeles Times

The White House is avoiding one word when it comes to Silicon Valley Bank: bailout

The Biden administration has taken pains to avoid the word "bailout" in describing the effort to rescue Silicon Valley Bank depositors. Yet banking experts say it sure does look like a bailout.

WEKU

Political blame game erupts over SVB failure

Each side is seizing on the themes already animating their economic message heading into 2024.

Axios

Biden's test: Can he show competence to avert banking chaos

President Joe Biden is confronting a significant challenge as his administration grapples with the fallout from the second- and third-largest bank failures in history

The Independent UK

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The Independent UK

Republicans have a scapegoat for Silicon Valley Bank’s collapse: ‘Woke banks’

Right-wing media and GOP officials falsely turn to catch-all boogeyman after historic financial failure

Fortune

Tech libertarians who want nothing to do with the government changed their tune big time when it came to Silicon Valley Bank’s epic collapse

The tech world typically resists government regulation, but Silicon Valley Bank's collapse led some to push for government intervention.

The Independent UK

Signature Bank seized to send banks a message, director says

A regulatory takeover of a New York-based bank was intended to send a message to banks to stay away from the cryptocurrency business

WEKU

The FDIC was created exactly for this kind of crisis. Here's the history

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

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Daily Mirror

Why Silicon Valley Bank collapse in US is worry for every Brit - your questions answered

More than £50billion was wiped off the value of Britain’s 100 biggest listed firms as the failure of tech sector lender Silicon Valley Bank spooked stock markets. Here's what you could you expect next

Los Angeles Times

At SXSW, an unexpected banking crisis disrupts a tech-world tradition

Walking through Roku City on Sunday afternoon, you'd hardly know the namesake company was having an unusually stressful weekend.

Fortune

SVB puts its $10 billion venture arm up for sale

SVB Capital blasted a letter, seen by Fortune, to its limited partners via email Monday morning, saying it was “continuing to operate” following the closure of the bank.

Reason

Yes, There Are Libertarians During Bank Runs

Plus: The editors recommend the best books for sparking interest in free market principles.

Bangkok Post

Developers focus on more US rate hikes

Developers are more worried about the impact on the housing market of future interest rate hikes by the US Federal Reserve than they are about the sudden collapse of Silicon Valley Bank (SVB).

Bangkok Post

Failed US banks 'pose few risks'

Prime Minister Prayut Chan-o-cha has ordered all relevant officials to keep an eye on the impact of the collapse of Silvergate Bank and Silicon Valley Bank (SVB) in the United States on Thailand's financial system.

Bangkok Post

Baht surges amid US bank collapse

The baht on Monday surged against a significant fall in the US dollar mainly due to the sudden collapse of Silicon Valley Bank (SVB) and the market's expectation that the US Federal Reserve (Fed) would slow down its policy rate hikes.

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