Birdwatch Note Rating
2023-03-14 16:28:19 UTC - HELPFUL
Rated by Participant: AD4B258A876183BB6E01670B77436A31F10A2640129A3417A64F8BB00024D5E9
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