Birdwatch Note Rating
2023-03-14 15:22:16 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 3CBBD777DB3BD3C481F5F2128B2FA0C4E7CC113F946F433DDC466FF1E58D277B
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