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The Latest Breaking News from SVB

Everyone take a deep breath -- our banks are ok

City Comment: A run on banks used to take weeks. Now it takes hours...

Evening Standard

How CFOs should be thinking about risk in light of SVB's collapse

CFOs are facing questions from boards, even if their company wasn't directly impacted.

Fortune

Doyle McManus: Silicon Valley Bank's collapse may be a blessing in disguise

In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever.

Los Angeles Times

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Silicon Valley Bank's demise animates early days of California's 2024 US Senate contest

With a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts.

Los Angeles Times

Explainer: are we in a banking crisis?

The below-market sale of Credit Suisse has spooked investors but other markets have held up well and central banks are working to keep money flowing

The Guardian - AU

S&P Stuns First Republic Bank with More Bad News

The rating agency has just downgraded the regional bank for the second time in a week.

The Street

Collapse of Silicon Valley Bank Has Chinese Startups Worried

The now-failed SVB served roughly 2,200 clients in China and advised government regulators who were eager to build the country’s tech sector.

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First Citizens Could Be Suitor for Silicon Valley Bank

Bids for Silicon Valley Bank, which was closed by the FDIC on March 10, are being received for the collapsed California bank.

The Street

Elizabeth Warren says Fed chair ‘failed’ and calls for inquiry into bank collapse

Progressive Democrat launches offensive on politicians on the left and the right who supported Trump-era deregulation of US banks

The Guardian - US

Silicon Valley Bank’s collapse will not be a one-off – a banking crisis was long overdue

We now know what happens when central banks raise rates and reverse QE

The Guardian - UK

Banking Crisis: Warren Buffett Is on the Phone with the Biden Administration

The legendary investor is reportedly in contact with the White House over the crisis of confidence rocking banks, since the sudden collapse of Silicon Valley Bank.

The Street

Silicon Valley Bank collapse concerns founders of color

While Wall Street works to contain the biggest American bank failure since the 2008 financial meltdown, founders of startups who are people of color worry it could become even harder to secure financial support

The Independent UK

Bank of America Could Acquire Signature Bank, Ackman Says

Signature Bank was closed by regulators on March 12, the third bank to fail in March.

The Street

Elon Musk Makes Damning Accusation Against Banks

Billionaire Tesla CEO accuses banks of being incompetent to manage their own investments that often amount to hundreds of billions.

The Street

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The Guardian - UK

Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis

The Guardian - UK

The SVB debacle has exposed the hypocrisy of Silicon Valley

US tech innovators have a culture of regarding government as an innovation-blocking nuisance. But when Silicon Valley Bank collapsed, investors screamed for state protection

The Street

SVB Collapse: How Bank Failures Impact Your Money

Consumers are concerned if their money is safe after three banks have failed recently.

Fortune

Silicon Valley’s hubris nearly ruined the U.S. economy

Tech thought it was exceptional. Maybe it was all wishful thinking.

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Radio France Internationale

SVB collapse proves global financial system needs rethink, says Nobel economist

After Silicon Valley Bank collapsed, shaking world markets, Nobel economics prize winner Joseph Stiglitz says US authorities "did the right thing" by providing federal money to protect deposits. But the economist also says the financial system needs a rethink to properly bring it into the digital era.

Asharq Al-Awsat

Credit Suisse Meets to Weigh Options, under Pressure to Merge with UBS

Credit Suisse Group AG began a make-or-break weekend after some rivals grew cautious in their dealings with the bank as regulators urged it to pursue a deal with Swiss rival UBS AG. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess…

Bangkok Post

Regional banks safe from US contagion

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

Bangkok Post

As in 2008, JPMorgan chief plays key role in bank rescue

NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

Fortune

Who will bid for SVB?

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

The Street

Kevin O'Leary Has a Warning for Depositors, Investors

Kevin O'Leary is swearing off bank stocks.

The Street

SVB Collapse: Why Customers Are Keeping Money At Bank

Some customers are keeping their deposits at Silicon Valley Bank since the FDIC took control of the failed California bank.

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