Birdwatch Note Rating
2023-03-15 10:08:05 UTC - HELPFUL
Rated by Participant: D140BCF5097E699E7F2C4612CEBF730E17977CB73D9CB3B6E87B0389EEB104B5
Participant Details
Original Note:
Bank regs. played barely any role in SVB collapse. The Fed's high interest rates was the main culprit, followed by wave of withdrawals. SVB then sold off its bonds to recoup cash, creating hysteria, & bigger wave of withdrawals follows, leaving SVB depleted: a run on bank. https://www.grid.news/story/economy/2023/03/13/how-the-feds-interest-rate-hikes-endangered-the-banking-sector-leading-to-svbs-collapse/#:~:text=The%20bank%20was%20thus%20uniquely,and%20the%20rest%20is%20history. https://www.forbes.com/sites/conormurray/2023/03/13/what-to-know-about-silicon-valley-banks-collapse-the-biggest-bank-failure-since-2008/
All Note Details