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The Latest Breaking News from SVB

European bank shares fall as crisis leaves mark

Banking shares have slipped in Europe as investors adjust to more challenging economic and lending conditions ahead.

The New Daily

Why recent bank failures could lead to a hiring slow down

Companies are taking a wait-and-see approach to hiring after SVB's collapse and the Credit Suisse rescue.

Fortune

11 unsung heroes of Silicon Valley’s banking crisis

They helped restore faith in the private markets—even when everything looked like everything might fall apart.

Fortune

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‘Gerbil banking’ preceded the Great Depression. We’re seeing it again today

Big banks are attracting more deposits–and putting money back into failing banks. A similar system existed in the run-up to the Great Depression.

Fortune

World faces prospect of financial tumult

Today, I was supposed to present the third article, Managing Household Debt, in the series "Changing Thailand". In fact, I have finished drafting a payment reduction model which could reduce monthly debt payments by 4.6 times without the hair-cutting debt principal or requiring government financial support. But I will delay…

Bangkok Post

Bitcoin teeters near $27,000 as Fed raises interest rates and Powell says cuts unlikely in 2023

The cryptocurrency jumped above $28,000 earlier this week.

Fortune

Silicon Valley Bank might have just blown up a banking regulation that was put in place at the depths of the Great Depression

Why deposit insurance matters: Without it, America's press secretary had to put his money under a mattress in the 1930s.

Fortune

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Powell stresses commitment to cooling prices as Fed hikes rates

The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.

Tribune News Service

US Federal Reserve raises interest rates a quarter-point amid banking turmoil

Fed announces rise to a range of 4.75% to 5% – its ninth consecutive rate rise and the highest rate since 2007

The Guardian - US

Bank Runs Leave Top Credit Card Stocks Unscathed; Funds Buy Visa And Mastercard

Mutual funds and ETFs are buying growth stocks Visa and Mastercard in the ongoing banking crisis. Both are building bases.

Investors Business Daily

Don’t believe the pundits who conflate middle-class entrepreneurs and Big Tech. Startups are today’s mom-and-pop businesses

Criticize the billionaires and the VCs all you want–but remember that they’re not the majority of depositors affected by the news.

Fortune

Bank Stocks Falter After Fed Raises Rates, Repairs Continue

Bank stocks were mixed early Wednesday ahead of the Fed rate hike decision. Regional banks falter on First Republic, PacWest updates.

Investors Business Daily

How a poker game launched Silicon Valley Bank’s four-decade ride of the tech wave — and a bad gamble 42 years later ended it all

In the early Eighties, when “High Tech” was still written with quotation marks and the region was starting to become known as The Silicon Valley, tennis buddies Bob Medearis and Bill Biggerstaff took their idea for a new bank to a poker game in Pajaro Dunes.

Tribune News Service

What is systemic risk and how does it lead to a banking crisis?

The recent collapse of Silicon Valley Bank (SVB), a regional US bank that funded start-up companies in the technology and innovation sector, has created a worldwide wave of financial instability.

The Conversation

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The Guardian - UK

Now the tide of money into the tech sector is ebbing, we can see who has no bathers on

Following an increase in interest rates, new start ups, old tech companies and SVB are facing hard times, says banking lecturer Maurizio Fiaschetti

Tribune News Service

SVB’s loans to insiders tripled to $219 million before it failed

As Silicon Valley Bank deteriorated late last year and regulators began internally flagging flaws in its risk management, the lender opened up the credit spigot to one group: insiders.

Fortune

An economist who correctly predicted the Great Financial Crisis says the world’s central banks have chosen ‘class war over financial stability'

The Fed and other central banks want to bring down inflation at all costs. Is it worth it?

The Independent UK

Public pension plan losses from bank failures seen as minor

The failures of two U.S. banks this month meant losses for U.S. public-sector pension systems that invested in them

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Bangkok Post

Yellen says banking stabilising, US may intervene more if needed

WASHINGTON - The United States banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen told a lenders' conference Tuesday, as leaders seek to calm global worries.

Fortune

The bank collapses triggered by SVB have uncanny parallels to the savings and loan crisis of the 1980s

“The arithmetic behind it was timeless," George Ball of Sanders Morris Harris told Fortune.

ABC News

The SVB collapse 'contagion effect' will make it harder for startups, and more banks may fall

The SVB collapse didn't just leave the banking sector in disarray; technology startups are bracing for a harder time, and there are fears the global economy is at risk of recession.

Al Jazeera

US bank failures ‘very different’ from 2008 crisis, Yellen says

US treasury secretary hails government intervention to guarantee depositors’ money and says banking system is ‘sound’.

Fortune

SVB wanted to put its customers at ease. It fueled a fire instead

Crisis communication experts explain the lessons in SVB’s misguided corporate messaging.

Fortune

DEI’s critics are missing the point. The real story is how companies have been quietly backsliding on diversity and gender equity

Corporate marketers are bombarding us with messages “celebrating” women’s accomplishments during Women’s History Month–but there is little to celebrate.

StockNews.com

1 Bank Stock Investors Should Avoid at All Costs

The recent bank failures have triggered a sell-off in banking stocks due to fears that other banks could also face insolvency issues. Amid the banking crisis, regional banks are expected to tighten lending. Therefore, avoiding fundamentally weak First Interstate BancSystem (FIBK) could be wise. Read more….

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