Bumps and bounces in banking: Chapman Tripp

Chapman Tripp partner Luke Ford led the firm's paper on banks. (Image: Chapman Tripp)

Mon, 03 Apr 2023

A major lesson of the Silicon Valley Bank (SVB) collapse for local New Zealand banks is that their deposit bases are likely to become a far less sticky and reliable source of funding, according to Chapman Tripp.In a report titled The Future of Banking in a Time of Turbulence, the law firm said SVB’s collapse demonstrated how fast deposits can move out of a bank now.With the largest bank collapse in US history, the 2008 demise of Washington Mutual, it lost US$16.7 billion to withdrawals in 10 days.SVB, the second-largest US bank to collaps...

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