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The Latest Breaking News from SVB

Why did the $212bn tech-lender Silicon Valley bank abruptly collapse?

Was it the result of Trump-era regulation rollbacks, risk mismanagement at the bank, sharp interest rate rises – or a combination of all three?

The Guardian - US

Silicon Valley Bank’s parent company files for bankruptcy

SVB Financial Group files for chapter 11 protection but failed Silicon Valley Bank, now under FDIC control, is not part of bankruptcy

The Guardian - US

Western stocks slide as bank fears return

LONDON: US and European stock markets fell on Friday as fears over the health of the banking system festered despite the latest efforts to shore up troubled lenders and tamp down contagion risks.

Bangkok Post

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The Fed was too late on SVB even though it saw problem after problem

Just over a year before Silicon Valley Bank’s collapse threatened a generation of technology startups and their backers, the Federal Reserve Bank of San Francisco appointed a more senior team of examiners to assess the firm. They started calling out problem after problem.

Tribune News Service

SVB Financial goes bankrupt, buying time to repay creditors

Silicon Valley Bank’s former parent company filed for bankruptcy a week after a run on deposits prompted regulators to seize its banking unit.

Tribune News Service

New Regulations Won't Stop the Next Bank Collapse

Plus: Another campus free speech debacle, foreign cheese groups lose Gruyere trademark case, and more...

Reason

What is happening in financial markets and could there be a global crisis?

Banking system is reeling from a series of shocks but is in better shape than at time of 2008 crash

The Guardian - UK

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Biden seeks FDIC authority to claw back bankers' compensation - Roll Call

President Biden asked Congress for FDIC authority to claw back compensation from executives at failed banks, and bar them from the industry.

Roll Call

SVB Financial files for Chapter 11 bankruptcy protection

The move aims to preserve value for the non-bank businesses

Axios

Inside ‘Operation Yeti’: How U.K. tech survived SVB’s collapse

In a matter of hours, investors, founders, industry volunteers, and government worked together to make sure 40% of their startups don’t go under.

Fortune

SVB employees blame remote work for bank failure

What happened at Silicon Valley Bank will likely enter the broader return-to-office debate.

Axios

SVB's disgraced ex-CEO is now holidaying in Hawaii

Becker was pictured sporting flip-flops and sunglasses in Hawaii as SVB's new CEO sought to reassure clients.

Fortune

Why did SVB collapse? Diversity demands were not the reason

City Voices: Ignore the “diversity distraction” talk

Evening Standard

Big banks came to First Republic's rescue, but changing the 'psychology of depositors' may not be easy

“Founders are pretty confused at [the] moment” one venture investor said.

Fortune

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Salon

The "woke" wars are worse than you think

However racist you thought the "woke banks" talking point was, somehow it's even worse

The Guardian - US

Silicon Valley Bank said it was too small to need regulation. Now it’s ‘too big to fail’

Student debts and underwater mortgages are private burdens, but corporate losses are matters of urgent public interest

Fortune

SVB, First Republic CEOs involved in lobbying pre-banking crisis

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.

Tribune News Service

Editorial: The Fed needs to keep hiking despite SVB turmoil

Last week, after hawkish testimony from Federal Reserve Chair Jerome Powell, markets penciled in a half-point increase in interest rates following the central bank’s next policy meeting. On Friday, the run on Silicon Valley Bank and subsequent fears of a wider crisis changed many investors’ minds. Some bet that the…

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The Guardian - UK

SVB parent files for bankruptcy; Credit Suisse shares slide again amid banking crisis – as it happened

European and US banking shares fall, with Credit Suisse down 12% as sentiment remains fragile

The Guardian - UK

Friday briefing: How to understand Credit Suisse, Silicon Valley Bank and fears of a new crisis

In today’s newsletter: We’re far from financial crisis territory, but share crashes have caused some fright in the markets. This is why

ABC News

US banks flock to Federal Reserve highlighting 'scale of stress in US banking system'

First Republic is the fourth bank in a week to show signs of financial distress. What does this mean for Australian interest rates – and mortgages?

Fortune

Fear, glee, and insousiance at SXSW

Thousands of techies came to South By Southwest at the same moment that their favorite bank was melting down. The mood was surprising.

The Guardian - US

Billionaire Peter Thiel claims he has $50m of his own money stuck in SVB fall

In the wake of the bank’s crisis, venture capitalists have been trading accusations over who is responsible for the collapse

The Independent UK

Big US banks benefit from surge in deposits after SVB and Signature Bank collapses

Though some consumers have pulled their money out of smaller banks, a Treasury official said those withdrawls have slowed

Bangkok Post

The fall of SVB: Another predictable bank failure

The run on Silicon Valley Bank (SVB) -- on which nearly half of all venture-backed tech start-ups in the United States depend -- is in part a rerun of a familiar story, but it's more than that. Once again, economic policy and financial regulation have proven inadequate.

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