The Latest Breaking News from SVB

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 · Mar 13, 2023

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 · Mar 13, 2023

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.

Bangkok Post · Mar 13, 2023

Silicon Valley Bank: Start-ups, small businesses and online sellers despair at frozen funds

Bank failure reaches far beyond ‘coastal-tech-elite’

The Independent UK · Mar 13, 2023

‘It was frantic’: the scramble to save SVB UK and avert a banking crisis

A small army worked through the weekend to ensure 3,500 UK customers – largely tech firms – still had cash on Monday

The Guardian - UK · Mar 13, 2023

US banking system ‘safe’ after SVB collapse: Biden

Joe Biden says the government's swift actions to help depositors in two banks should give the public confidence the US banking system is safe

The New Daily · Mar 13, 2023

FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune · Mar 13, 2023

Sam Altman personally gave loans to stranded startup founders while taking shots at D.C.

The OpenAI founder called for more banking regulations and called SVB a “badly mismanaged bank.”

Fortune · Mar 13, 2023

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger · Mar 13, 2023

Michael Pascoe: Silicon Valley Bank downfall will increase nerves in a precarious sector

Silicon Valley Bank, an institution that specialised in tech, might seem a long way away from Australia, but we should take note.

The New Daily · Mar 13, 2023