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This comes on top of news that Silicon Valley Bank CEO Greg Becker sold nearly $30mn in shares over the past two years, including a $3.6mn chunk just days before the bank sparked a deposit run by revealing big losses on securities sales. The Federal Deposit Insurance Corporation had to ...
One question people have asked is: Why didn’t Silicon Valley Bank hedge its interest-rate risk? SVB, like other regional banks, got a lot of deposits and invested them in long-term US government and agency bonds with fixed interest rates. As interest rates went up, those bonds lost ...
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Western Alliance said it had taken in around $600mn in new deposits in the last week, a new sign that the US regional bank has stabilised withdrawals following the collapse of Silicon Valley Bank in March. Arizona-based Western Alliance said in an update on Thursday that total deposits were...