Birdwatch Note Rating
2023-03-14 22:41:06 UTC - HELPFUL
Rated by Participant: 854AAA07082F68EFF1A2E287C051EF1810580A47C4E5C97825E157561123037B
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