The Latest Breaking News from SVB

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

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

Federal regulators seeking to sell bank

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.

The Association of Investment Management Companies (AIMC) and the Government Pension Fund (GPF) yesterday issued a statement announcing they have no direct investment in the assets of the collapsed Silicon Valley Bank (SVB).

The government is ready to take action, even in a caretaker position before the next administration takes power, should global volatility affect the country's economy or financial system, Finance Minister Arkhom Termpittayapaisith told reporters.

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

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).

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.