Originally posted by AtW
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Silicon Valley Bank (UK)
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"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank... -
Originally posted by jamesbrown View PostYou should know who you’re banking with and what they’re doing with your money, and you should diversify too..Comment
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They were forced to sell Govt bonds with reported 10% loss, but they obviously FiRST sold whatever bonds resulted in lowest loss, which was enough to **** them over, question is whether remaining 150-200 bln of “assets” actually only 10% loss, seems unlikely to me…Comment
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They were heavy in two areas, tech start-ups and VCs/private equity. It is literally the job of VCs to assess risk (and gain huge returns when they get it right). Hopefully, the gov't will stick with the terms of the FSCS, but provide short-term liquidity to avoid these companies going to the wall and have capital/jobs destroyed before other options can be explored. Anything more creates huge moral hazard and renders the FSCS pointless. Given that this bank is not systemic, it sends the message that all banks will ultimately have their losses socialised.Comment
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Originally posted by AtW View PostThey were forced to sell Govt bonds with reported 10% loss, but they obviously FiRST sold whatever bonds resulted in lowest loss, which was enough to **** them over, question is whether remaining 150-200 bln of “assets” actually only 10% loss, seems unlikely to me…Comment
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Crypto banks going tits up - Govt approves
Banks that bought govt treasuries going tits up due to bank run spooked by losses on said treasuries - not so good for Govt
Bank run needs to be stopped - 100% of all deposits must be guaranteed everywhere, or at least 90% above some big sum - £1 mln at least
If this isn’t stopped tomorrow then it will leas to business splitting their deposits even from “safe” banks, something that is frankly should be normal, but opening business account these days is more pain in arse than a prostate examLast edited by AtW; 12 March 2023, 13:31.Comment
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“Yellen says government will help SVB depositors but rules out bailout
Treasury secretary says policies being formulated to stem fallout of tech lender’s collapse”
https://www.ft.com/content/6a77d81b-...2-3336af04d04bComment
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Originally posted by AtW View PostCrypto banks going tits up - Govt approves
Banks that bought govt treasuries going tits up - not so good for Govt
Bank run needs to be stopped - 100% of all deposits must be guaranteed everywhere, or at least 90% above some big sum - £1 mln at leastComment
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Originally posted by AtW View Post“Yellen says government will help SVB depositors but rules out bailout
Treasury secretary says policies being formulated to stem fallout of tech lender’s collapse”
https://www.ft.com/content/6a77d81b-...2-3336af04d04bComment
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Originally posted by jamesbrown View PostBank that this bank is not systemic, it sends the message that all banks will ultimately have their losses socialised.
There wont be “non-systemic” banks thenComment
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