Also, how to buy a home in this difficult housing market, stock picks and retirement planning.
Most investors caught wind of the trouble at Silicon Valley Bank on March 8 or 9, before it was shut down by California regulators on March 10. The bank’s liquidity problems set off a wave of trouble for other banks that weren’t ideally positioned for the rising-interest-rate environment. But an important part of the story is how SVB’s failure has affected its customers and how higher interest rates have people rethinking their banking relationships.
Aarthi Swaminathan and Andrew Keshner tell the story of a SVB business customer who scrambled during the weekend after the bank’s failure to set up new bank accounts. Then they look further into customers’ loyalty to banks, reasons for switching and offer tips for moving to another bank. The Fed regulates bank holding companies, which raises the question of why the regulator didn’t push for better risk management at SVB Financial Group.
The rough housing market As we have moved past the race to buy at the end of the long period of low interest rates, an improved buyer’s market is countered by a doubling of mortgage loan interest rates over the past year. Aarthi Swaminathan shares five tactics for home buyers.
France Yue covers the regulatory scene, the arrest of Terraform Labs founder Do Kwon and other crypto industry developments in this week’s Distributed Ledger column.
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