Birdwatch Note Rating
2023-03-15 00:19:34 UTC - HELPFUL
Rated by Participant: B34D7DD44B68E0D013AFAFD65F061C9D4507A4E0494592DA46C47071FDF5E19D
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