What does Silicon Valley Bank’s collapse mean for the financial system?

What does Silicon Valley Bank’s collapse mean for the financial system?
(Image: Getty)
The Economist
Bloomberg
Two ways. Gradually, then suddenly. That is how Silicon Valley Bank (SVB), the 16th-largest lender in America, with about US$200 billion (NZ$325.9b) in assets, went bust. Its financial position deteriorated over several years. But just two days elapsed between the San Francisco-based bank’s announcement on March 8 that it was seeking to raise US$2.5b to plug a hole in its balance sheet, and the declaration by the Federal Deposit Insurance Corporation (FDIC), which regulates American bank deposits, that SVB had failed.SVB’s shar...

More Bloomberg

Coal firm wiping 800-year-old German village off the map
Bloomberg

Coal firm wiping 800-year-old German village off the map

Billionaire's company wants the lignite before it finally abandons the energy source.

Singapore becomes hot spot for M&A bankers hunting Asia deals
Finance

Singapore becomes hot spot for M&A bankers hunting Asia deals

The island is a magnet for parties interested in mergers and acquisitions.

Bloomberg 28 Jun 2024
Wall St backers see breakthrough moment for carbon offsets
Climate change

Wall St backers see breakthrough moment for carbon offsets

Promoters' big wins include Biden administration's blessing of the credits.

Bloomberg 22 Jun 2024
Nvidia’s rise to US$3 trillion fuels ‘Jensanity’ in the tech world
Technology

Nvidia’s rise to US$3 trillion fuels ‘Jensanity’ in the tech world

At Computex, cheering, chanting fans followed the billionaire everywhere.

Bloomberg 15 Jun 2024