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The Latest Breaking News from Silicon Valley Bank

US regulators avoided a banking crisis by swift action following SVB's collapse – but the cracks it exposed continue to weaken the global financial system's foundation

U.S. regulators’ swift reaction to the collapse of Silicon Valley Bank and two other lenders partially restored calm to markets, but concerns remain over the stability of the global financial system.

The Conversation

Credit Suisse shares soar after the bank secures a $54 billion lifeline

Shares of the Swiss banking giant rallied significantly Thursday after Switzerland's central bank agreed to lend it $54 billion.

WEKU

Yellen to tell Congress US banking system 'remains sound'

Treasury Secretary Janet Yellen says the U.S. banking system remains sound

The Independent UK

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First Thing: Autopsy of ‘Cop City’ activist shot by police still incomplete

Manuel Paez Terán’s family say other state agencies have also failed to release information about activist’s death. Plus, how the first Twitter-fuelled bank run played out

The Guardian - UK

SVB Collapse Dominates Discussions at Financial Sector Conference in Saudi Arabia

The collapse of the California-based Silicon Valley Bank (SVB) dominated most sessions and workshops of the Financial Sector Conference in Riyadh. The repercussions of SVB’s recent bankruptcy caused shock and confusion worldwide, especially for economies that fear that the crisis will spillover to their financial institutions. Saudi Minister of Finance…

Asharq Al-Awsat

Bank turmoil casts shadow over Europe interest rate decision

Concerns about the world's banks are casting a shadow over the European Central Bank's meeting

The Independent UK

Editorial: SVB mess demands a rethink on government bailouts

The demise of Silicon Valley Bank has put the U.S. government into an uncomfortable position, backstopping depositors like never before to prevent a broader and potentially devastating bank run.

Tribune News Service

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Jonathan Bernstein: Blaming SVB on ‘woke’ banks masks Republican divide

Politicians generally don’t like looking silly. And yet a whole bunch of Republican politicians reacted to the collapse of Silicon Valley Bank by raging about “woke” banking” in ways that made them appear ridiculous to anyone actually concerned about the danger to the banking system and the economy.

Tribune News Service

Editorial: SVB failure adds to tech industry’s greedy image

Day by day, month by month, year by year, greed is ruining the tech industry’s image.

Tribune News Service

‘The first Twitter-fuelled bank run’: how social media compounded SVB’s collapse

The speed at which Silicon Valley Bank collapsed has left experts questioning whether social media has opened up entirely new risks in the world of finance

The Guardian - AU

Credit Suisse: Share price climbs after £44bn bailout from Swiss national bank – latest

Credit Suisse dropped about 30 per cent on the on the Swiss stock exchange Wednesday after Wall Street expert Robert Kiyosaki tipped it as the next major bank to collapse

The Independent UK

AP News Digest 3:30 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

The Independent UK

Conservatives hate wokeness. Don’t trigger them by asking what it means

An anti-woke commentator short-circuited when asked to define the term, which the right has turned into a catch-all

The Guardian - US

Arrogance, Incompetence or Both: What SVB’s Failure Really Means

The implosion of Silicon Valley’s favorite bank, which became increasingly dependent on venture capital and private equity, was rooted in hubris as much as its balance sheet.

Businessweek

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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 Guardian - AU

Credit Suisse takes $54bn loan from Swiss central bank after share price plunge

After largest shareholder was unable to provide backing, Europe’s 17th largest lender says it will use government help to become ‘simpler and more focused’

The Independent UK

FACT FOCUS: Claims link ‘woke’ policies to bank’s demise

Some social media users are honing in on a single culprit that led to the demise of Silicon Valley Bank: its socially aware, or “woke,” agenda

Bangkok Post

Is SVB the canary in the coal mine?

Should the rest of the world be worried about the collapse of Silicon Valley Bank last week? SVB was the 16th largest bank in the United States, with about $210 billion (7.3 trillion baht) in assets and a market valuation of $44 billion at its peak.

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The Independent UK

NY bank's demise: Contagion or a problem with the business?

A New York-based bank's demise was stunningly fast

Fortune

After Twitter played a massive role in a historic $42 billion bank run, Elon Musk mused it was like 1929

Before Silicon Valley Bank was shut on Friday, investors discussed its health while some recommended that depositors pull their money out.

Bangkok Post

TAT to monitor tourism impact of SVB

Economic concerns stemming from the collapse of Silicon Valley Bank (SVB) will not affect long-haul visitors to Thailand in the short term as pent-up demand should support the market, but officials plan to monitor the long-term impact, according to the Tourism Authority of Thailand (TAT).

Tribune News Service

Following the SVB collapse, are banks in Texas at risk?

The collapse of Silicon Valley Bank sent ripples through the banking world, causing stocks like Comerica’s to fall as investors looked to guard themselves against a potential domino effect.

Fortune

‘What happens to all the debt?’ Founders and VCs have a host of questions about the fate of Silicon Valley Bank’s venture loans

SVB was a prolific lender. “If it gets acquired, things could change,” one venture investor told Fortune.

Fortune

The real victims of SVB aren't the tech elite: Hardworking business owners share their horror stories of the bank's collapse

The Silicon Valley Bank bailout was not about solving a “1% problem.”

Salon

SVB-backed GOPers "want to go further"

"They don't want any kind of oversight whatsoever," watchdog group warns

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