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The Latest Breaking News from SVB

First Thing: global markets gripped by Silicon Valley Bank collapse

Bank shares slide around world amid panic caused by SVB failure as its parent company and two top executives are sued by shareholders. Plus, what’s next for Escobar’s hippos?

The Guardian - UK

Banks catering to specific niches were a disaster waiting to happen—and regulators haven't kept up with how tech is moving money

The nature of deposits and client behaviors have changed dramatically in the past decade, says a former bank examiner at the FDIC.

Fortune

Financial regulators are unprepared for bank runs in the age of social media

Monitoring volatility on social media platforms isn’t cumbersome or costly. Silicon Valley Bank's implosion shows regulators must change with the times.

Fortune

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Fears of SVB’s Collapse Having Repercussions on Arab Countries

The collapse of the California-based Silicon Valley Bank (SVB) has fueled fears among customers, depositors, and technology companies regarding the economic level in the US.

Asharq Al-Awsat

Silicon Valley Bank's fatal communications flaw

In moments of uncertainty, overt communication drives confidence.

Axios

"Woke" billionaires, same as old ones

Ignore GOP hype about the "liberal" tech industry — reckless, entitled libertarianism is what fuels Silicon Valley

Salon

Inside Biden's SVB move to stop future bank runs

The decision to protect depositors carried some risks.

Axios

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Ken Griffin says SVB failure would have been 'lesson in moral hazard'

The CEO of hedge fund Citadel said that backing Silicon Valley Bank's deposits in full was a "loss of financial discipline."

Fortune

What to know about the Silicon Valley Bank collapse, takeover and fallout

President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.

WEKU

Kuwait: Limited Exposure to Collapse of SVB

The financial sector in Kuwait announced that it had registered limited exposure to the collapse of Silicon Valley Bank. The Central Bank of Kuwait (CBK) affirmed on Sunday that the exposure of Kuwaiti banks to Silicon Valley Bank (SVB), following the closure of the bank by the US authorities, was…

Asharq Al-Awsat

US banking sector outlook downgraded, but regional bank shares surge – as it happened

Shares in First Republic, Western Allliance, PacWest and Zions are all rallying after Monday’s selloff; US inflation drops to 6%

The Guardian - UK

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 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

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Fortune

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.

Los Angeles Times

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.

Axios

Political blame game erupts over SVB failure

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

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

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news in one place.

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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.

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.

Fortune

Seeing all red next to your bank's ticker? Here is what that means

“Consumers need to separate falling stock prices and volatile trading from their actual deposits in the bank,” explained Mark Neuman, financial advisor and CIO of Constrained Capital.

Bangkok Post

Arkhom says SVB's failure unlikely to affect country

The Finance Ministry is closely monitoring the collapse of Silicon Valley Bank (SVB) to see if it has any impact on Thailand, says Finance Minister Arkhom Termpittayapaisith.

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.

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