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The Latest Breaking News from SVB

SVB collapse may be start of ‘slow-rolling crisis’, warns BlackRock boss

Larry Fink tells investors more ‘shutdowns and seizures’ in US possible and predicts inflation and interest rates to rise

The Guardian - UK

The pitchforks are out for diversity efforts after SVB's downfall

Republican critics of Silicon Valley Bank argue that its board was distracted by diversity goals when it allowed the bank to fail. Here’s why that nonsensical assertion is still frightening.

Fortune

Shuli Ren: The Fed’s easy fix to avert another bank crisis

The Federal Reserve's plan to expand oversight of lenders after the collapse of SVB Financial Group and Signature Bank is a move in the right direction. While it will likely be a laborious process, there is also an easy fix.

Tribune News Service

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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

Bank failures could spur Congress to act on stablecoins

Digital assets chair French Hill and Circle's Dante Disparte weigh in.

Fortune

The SVB collapse adds financial instability to the Fed’s inflation fight. A recession may not be the worst outcome

The Fed now faces a quandary: It must fight inflation while making sure that the remedy of rising rates doesn’t further undermine financial stability.

Fortune

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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

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

Progressives and bankers find common ground in SVB crisis

They both blame Fed regulators.

Axios

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

High street banks lure tech firms away from Silicon Valley Bank UK after HSBC rescue deal

High Street banks are quietly stepping up their efforts to lure startups away from Silicon Valley Bank UK as the beleaguered firm’s customers weigh up whether to keep their accounts open after a last-minute rescue deal by HSBC.

Evening Standard

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

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

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Fortune

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.

Boston Herald

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.

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.

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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

Chicago Tribune

Editorial: Why it’s not such a wonderful life when real-time panic causes bank runs

George Bailey knew how to fend off a bank run. When the citizens of Bedford Falls ran to the bank to demand a return of their deposits, they encountered George, in the form of Jimmy Stewart, guarding the vault with a moral lesson.

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.

Fortune

SVB collapse may force the Fed to rethink interest rate hikes

The Fed is wary of exacerbating any kind of financial fragility.

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

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