In response to the bank failures, the three major U.S. Silvergate Bank and Signature Bank, both with significant exposure to cryptocurrency, failed in the midst of turbulence in that market. The bank's clientele was primarily technology companies and wealthy individuals holding large deposits, but balances exceeding $250,000 were not insured by the Federal Deposit Insurance Corporation (FDIC). The bonds had lost significant value as market interest rates rose after the bank had shifted its portfolio to longer-maturity bonds. Silicon Valley Bank (SVB) failed when a bank run was triggered after it sold its Treasury bond portfolio at a large loss, causing depositor concerns about the bank's liquidity. banks failed, triggering a sharp decline in global bank stock prices and swift response by regulators to prevent potential global contagion. Over the course of five days in March 2023, three small-to-mid size U.S.
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