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The Latest Breaking News from SVB

Let the bailout debate begin

If a bailout doesn't cost anything, is it really a bailout?

Axios

A risk management nightmare at Silicon Valley Bank

The CFO and board "failed to adequately protect shareholder value," says a former bank examiner for the Federal Reserve.

Fortune

Biden raps 2018 bank changes, asks lawmakers to toughen rules - Roll Call

President Biden urged Congress to tighten regulations on the banking sector and criticized a bipartisan 2018 easing of capital rules.

Roll Call

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Explained: How Silicon Valley Bank collapsed, and what’s next

Australian markets slid on Monday as the fallout from the collapse of California-based Silicon Valley Bank (SVB) reverberated globally.

The New Daily

Tell us: are you affected by the Silicon Valley Bank collapse?

We’re interested to hear how affected SVB investors and workers in the tech and start-up sector view the bank failure and what the wider implications might be

The Guardian - UK

Federal agencies are saving Silicon Valley, but tech may never be the same

Silicon Valley Bank depositors will be made whole, but startups are losing a key player in the ecosystem.

Fortune

Silicon Valley Bank collapse ‘could force central banks to stop interest rate rises’

Analysts say US Federal Reserve will probably reject further increase in borrowing costs next week

The Guardian - UK

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US regulators step in to shore up banking sector in wake of SVB's collapse

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full. Elsewhere, the…

France 24

France says no risk of contagion as governments handle SVB collapse fallout

The bankruptcies of US banks Silicon Valley Bank (SVB) and Signature do not pose a danger to French financial institutions, Finance Minister Bruno Le Maire said Monday as authorities in the US and UK took extraordinary steps to stop a potential banking crisis.

France 24

‘My wife was in tears’: tech firms breathe sigh of relief after HSBC saves Silicon Valley Bank UK

‘These companies were on the precipice. If SVB had gone insolvent it would have been utter chaos.’

Evening Standard

FTSE 100 suffers sharp fall as HSBC buys Silicon Valley Bank UK for £1

FTSE 100’s top tier fell nearly 2% in morning trading on Monday

The Independent UK

THG and musicMagpie move to reassure investors as Silicon Valley Bank's UK arm is sold to HSBC

Chancellor Jeremy Hunt has confirmed that all customer deposits have been protected under the deal, and that no taxpayer cash was involved

Birmingham Post

Silicon Valley pulls back from bank failure abyss

The feds will rescue the failed bank's depositors, but the tech industry will still take some blows.

Axios

UK arm of collapsed Silicon Valley Bank bought by HSBC

THE UK arm of collapsed US lender Silicon Valley Bank has been bought by HSBC after the Government and Bank of England stepped in to…

The National (Scotland)

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Fortune

Not just Silicon Valley: SVB’s collapse spreads globally

It's not just U.S. officials scrambling to understand the repercussions of Silicon Valley Bank's collapse.

ABC News

The collapse of Silicon Valley Bank reveals cracks in a system that leans on government bonds

Unlike the debacle surrounding the collapse of Sam Bankman-Fried's crypto kingdom FTX late last year, the sudden demise of Silicon Valley Bank last weekend has its origins at the other end of the financial spectrum, explains Ian Verrender.

Evening Standard

Naked Wines, Trustpilot among UK-listed firms exposed to Silicon Valley Bank

Naked Wines and Trustpilot are among the biggest UK-listed firms with a material exposure to Silicon Valley Bank (SVB), it was revealed today, as businesses rushed to reassure shareholders they had enough cash to survive after the bank’s collapse on Friday.

Wales Online

HSBC buys UK arm of troubled Silicon Valley Bank with no cost to taxpayer

Silicon Valley Bank's (SVB) possible collapse had posed a serious threat to the tech sector which had deposited large amounts of cash with the bank. HSBC has now bought the UK arm of the struggling bank.

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Evening Standard

HSBC buys UK arm of Silicon Valley Bank

Deal is huge relief to UK tech sector, as many as 30% of whom had accounts with SVB

The Guardian - UK

Silicon Valley Bank: FTSE 100 tumbles 2.5%; HSBC rescues SVB UK – as it happened

Silicon Valley Bank UK has been sold to HSBC, in a deal that protects depositors’ money, says Treasury and Bank of England after weekend talks

The Guardian - AU

Silicon Valley Bank: why did it collapse and is this the start of a banking crisis?

Until last Friday Silicon Valley Bank was the 16th largest bank in the US, worth more than $200bn

Roll Call

Regulators to protect SVB, Signature depositors, but no bailout - Roll Call

Federal regulators said Sunday they would protect all Silicon Valley Bank depositors, including those above the deposit insurance limit.

Axios

J.P. Morgan, PNC among suitors for SVB holding company

Talks exclude the stricken commercial bank, sources told Axios.

Fortune

Backstopping SVB's fallout is the first unintended consequence of Fed's zero interest rate experiment

SVB's collapse has triggered a historic reframing of depression-era deposit insurance.

Tribune News Service

US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

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