Silicon Valley Bank collapses after members make run, Other banks to follow?

originally posted by: AugustusMasonicus
A few can be lower auto insurance rates, ability to apply for certain jobs, easier approval for rental properties, no deposit for utility hookups.

That certainly would be helpful for people. In those situations. Thanks for pointing that out.

I saved a lot on my car insurance not paying it.

It is possible that the regional banking crisis is not yet resolved and may even be spreading across the Atlantic. Aside from global derisking, anxiety over Credit Suisse has sparked a huge dovish response in Fed expectations with the odds of a 50bps hike tomorrow at The ECB tumbling. The European Central Bank is still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, given high inflation, a source close to its Governing Council told Reuters.
Joost Beaumont, head of bank research at Dutch lender ABN Amro states, “If regulators do not handle the Credit Suisse situation well, this will send shockwaves through the whole sector..."
Credit Suisse Group AG's shares reached their lowest point ever, dropping by as much as 10%. This is the eighth consecutive session of decline, which comes in the wake of restructuring issues, delays in submitting its annual report due to 'material weakness' flagged by the SEC last week, and a broader industry selloff following the collapse of Silicon Valley Bank. In addition to these challenges, the troubled Swiss bank now faces a new problem. Saudi National Bank, will not invest any further due to the sharp decline in valuations.
It's going to get worse.

www.zerohedge.com...
www.oann.com...

I just read that Standard & Poors has downgraded First Republic bank to junk status.

Looks like the next domino to fall will be either them or Credit Suisse.

Incidentally, they still don't have a buyer for Silicon Valley Bank. Normally when banks fail, the FDIC has a buyer lined up before they make the announcement.

US equities plunged around 2% on the Credit Suisse contagion, but then well after EU closed, headline suggesting a statement from Swiss authorities : Full Statement:

The Swiss National Bank SNB and the Swiss Financial Market Supervisory Authority FINMA assert that the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets. The strict capital and liquidity requirements applicable to Swiss financial institutions ensure their stability. Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks. If necessary, the SNB will provide CS with liquidity. The SNB and FINMA are pointing out in this joint statement that there are no indications of a direct risk of contagion for Swiss institutions due to the current turmoil in the US banking market. Regulation in Switzerland requires all banks to maintain capital and liquidity buffers that meet or exceed the minimum requirements of the Basel standards. Furthermore, systemically important banks have to meet higher capital and liquidity requirements. This allows negative effects of major crises and shocks to be absorbed. Credit Suisse’s stock exchange value and the value of its debt securities have been particularly affected by market reactions in recent days. FINMA is in very close contact with the bank and has access to all information relevant to supervisory law. Against this background, FINMA confirms that Credit Suisse meets the higher capital and liquidity requirements applicable to systemically important banks. In addition, the SNB will provide liquidity to the globally active bank if necessary. FINMA and the SNB are following developments very closely and are in close contact with the Federal Department of Finance to ensure financial stability.

The released statement prompted a rapid buying-panic, lifting Nasdaq green. But when the statement hit , it was disappointing and stocks faded back into the red with Small Caps the biggest losers (lots of small financials)...
So much for the 'bailout' - here are some regional bank stock's performances since Friday's close..


www.zerohedge.com...
www.zerohedge.com...

I have not read the whole thread but I expect this has already been mentioned. So now the woke disease in the USA is spreading the whole world through the collapse of a bank, that prioritised woke dogma and proliferation over keeping an eye on its risk exposure. How incredibly sad, sort it out please our American cousins.

News this morning is that Credit Suisse is getting a 50 BB franc bailout (about 54 BB USD) from the Swiss government.
...and analysts are saying that's probably not enough!

In this report, $42 Billion got taken out of SVB the day before it closed. One theory is that it is not rising interest rates that caused this jump, but a lot of drug and other black market money jumping ship as regulators where closing in.

Deutche Bank is also in the danger zone and if that collapses no government will have enough money to bail them out. Their exposure is in the trillions.

originally posted by: LeeMich83
Deutche Bank is also in the danger zone and if that collapses no government will have enough money to bail them out. Their exposure is in the trillions.

Can you pleas help me out with a link?

JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Morgan Stanley, U.S. Bancorp, Truist Financial and PNC, swooped in on Thursday afternoon to rescue First Republic Bank with a $30 billion deposit, a move intended to shore up the beleaguered San Francisco lender. Are these all democratic run Banks?
www.foxbusiness.com...#&_intcmp=fnhpriver_1

Pentagon Inside Panic??

Looks like it maybe !!😎🔊⚔️

Pentagon Mobilized to Support Tech Startups After Bank Failure

In the hours after Silicon Valley Bank collapsed on March 10, Pentagon officials who work directly with startups that develop national-security technologies grew increasingly concerned.

Would startups that had money in the bank need to stop work? If that happened, would there be supply-chain disruptions? Would a company under financial stress put its intellectual property at risk?

Officials prepared different courses of action to get cash to companies, if needed.

“It was a busy weekend, for sure,” Michael Madsen, acting director of the organization that acts as conduit between startups and the military, said Tuesday at a Reagan Institute event in Washington.

originally posted by: xuenchen
Pentagon Inside Panic??

Looks like it maybe !!😎🔊⚔️

Pentagon Mobilized to Support Tech Startups After Bank Failure

In the hours after Silicon Valley Bank collapsed on March 10, Pentagon officials who work directly with startups that develop national-security technologies grew increasingly concerned.

Would startups that had money in the bank need to stop work? If that happened, would there be supply-chain disruptions? Would a company under financial stress put its intellectual property at risk?

Officials prepared different courses of action to get cash to companies, if needed.

“It was a busy weekend, for sure,” Michael Madsen, acting director of the organization that acts as conduit between startups and the military, said Tuesday at a Reagan Institute event in Washington.

Lol everything is a "matter of national security."

Free speech is bad, it's a matter of national security to not speak freely, or have any constituonal rights. That's where it always goes. But in this case laundering your tax dollars to the elites is a matter of national security.