Birdwatch Note Rating
2023-03-14 14:20:05 UTC - HELPFUL
Rated by Participant: 66FA676006BF9225C1F8756B30A8D190543D5A5E58269449CA5496DA77A8031D
Participant Details
Original Note:
Bank regulations played no role in SVB collapse. The Fed's high interest rates was the main culprit, followed by a wave of withdrawals. SVB then sold off its bonds to recoup cash, creating hysteria, & bigger wave of withdrawals follows, leaving SVB depleted: a run on bank. https://www.grid.news/story/economy/2023/03/13/how-the-feds-interest-rate-hikes-endangered-the-banking-sector-leading-to-svbs-collapse/#:~:text=The%20bank%20was%20thus%20uniquely,and%20the%20rest%20is%20history. https://www.forbes.com/sites/conormurray/2023/03/13/what-to-know-about-silicon-valley-banks-collapse-the-biggest-bank-failure-since-2008/
All Note Details