Birdwatch Note Rating
2023-03-15 00:23:35 UTC - HELPFUL
Rated by Participant: 65116A9CB76519EB579030AF373681B2050B0B36956D5F01F40BA70A60FDD6D0
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