International News

Silicon Valley Bank Collapses

Author : Bozhou Marine

Update time : 2023-03-13 10:16:26

On March 10 local time, U.S. regulators took over the assets of Silicon Valley Bank (SVB) in an emergency. The United States has witnessed the largest bank failure since the collapse of Washington Mutual Bank in the 2008 financial crisis.

This incident affects more funds and technology companies that are directly damaged, which will prompt investors and companies to become more vigilant about the black swan risk of capital security, so more people will turn to those who enjoy "too big to fail" Treatment of financial institutions to cooperate.

For many start-ups, the status quo they are facing is that their accounts are frozen, causing concerns that the capital chain will be broken, they will not be able to pay wages, and some may even be unable to maintain the company's operations.

SVB storm is still spreading, sweeping the world. In London, some companies tried to transfer money from Silicon Valley Bank, but to no avail; in India, many business founders and investors have not even slept for 48 hours.

According to statistics from Wind, as of the end of 2022, a total of 528 institutional investors hold shares in Silicon Valley Bank, with a combined market value of US$10.954 billion.

In this turmoil, the depositors of Silicon Valley Bank are the direct victims. Silicon Valley Bank's customers mainly come from technology start-up fields such as science and technology, life sciences, healthcare, high-end consumption, private equity and venture capital (PE/VC).

Silicon Valley Bank's special attribute of being mainly faced to the technology industry also means that the entire banking industry in the United States is unlikely to have a knock-on effect, because major US banks still have good balance sheets and sufficient capital.

www.bozhou-int.com | Marine Light

Previous : Strikes In Germany

Next : The Philippines Officially Joined RCEP

The 19th Asian Games

Sep .25.2023

The 19th Asian Games will be held in Hangzhou from September 23 to October 8, 2023.

UAW: Collective Strike

Sep .18.2023

In the early morning of September 15, due to the breakdown of labor negotiations, about 13,000 auto workers from the United Auto Workers (UAW) union began a strike at the same time against the three major automakers General Motors, Ford and Stellantis.

Libya Devastated By Hurricane

Sep .13.2023

On September 11, local time, Mediterranean Hurricane Daniel severely damaged the northeastern Libyan city of Derna.

Shipping Prices On Many Routes Fell Again

Sep .13.2023

Due to sluggish demand during the peak season and more and more new ships entering the market, the Shanghai Export Container Freight Index (SCFI) fell below 1,000 points again.