Birdwatch Note Rating
2023-03-17 02:00:30 UTC - HELPFUL
Rated by Participant: 6A0ED81032B632BA12B30102B02E66D54D21DF41405A5955D13456B88308CD3D
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