Birdwatch Note Rating
2023-03-14 20:28:00 UTC - HELPFUL
Rated by Participant: 48FED2CED4B154DEC0C8B9A45F3F7CD82C462B2D671CD4EC30C56C2840A87B5D
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