Birdwatch Note Rating
2023-03-14 14:56:17 UTC - HELPFUL
Rated by Participant: 03CBEECCC2FEEBD40A5495AC156BDB89025FC5162BF550EF1B0E9BCFEDA4A05E
Participant Details
Original Note:
The rapid rise in interest rates was the direct cause of the SVB failure. As interest rates rose, SVB depositors pulled out their deposits, causing SVB to sell bonds at a $1.8B loss. Venture Capitalists then encouraged a run on the bank of about $42B in one day. https://www.fastcompany.com/90864027/why-svb-failed-silicon-valley-bank-collapse
All Note Details