Silicon Valley Bank’s depositors should be protected, but bankers are wary of contagion if the US FDIC cannot find a buyer for SVB assets.
New York-based investment bankers are bracing for further vulnerability in the venture capital ecosystem to emerge despite US markets heading for a jubilant return to trading on Monday, as the fallout from Silicon Valley Bank’s collapse invites fresh scrutiny from Wall Street.
Valuing a tech company, particularly for the purposes of an initial public offering, has become an even taller order for investment bankers, who less than two years ago basked in low-cost capital, and cashed-up investors willing to punt on unprofitable companies.
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Could there be an SVB style run on Australian banks?Local players have learnt the lessons of the global financial crisis and put considerable effort into change. But it would be naive to give them the all clear.
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UK banks in talks over rescue of SVB armThe tech sector and the VC industry have called on the British government to step in to support the collapsed bank’s clients.
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The SVB collapse has serious implications for both banks and techOPINION: US regional banks and Silicon Valley tech firms are nervously contemplating the likely cost of the Silicon Valley Bank collapse.
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USD Coin value falls after revealing $3.3bn held at Silicon Valley BankThe stablecoin fell as low as $0.87 as Circle broke the news that its reserves were at the collapsed lender
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Yellen says Silicon Valley Bank won’t receive bailout after collapseUS treasury secretary says Biden administration is working closely with regulators to help depositors as fears of banking crisis rise
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US Treasury Secretary says ‘no bailout’ for Silicon Valley Bank following collapseUS Treasury Secretary Janet Yellen has spoken to Face The Nation and says there’ll be “no bailout” of Silicon Valley Bank after its collapse, according to CommSec’s Craig James. “They’re focused on protecting the depositors and insured deposits of up to $250,000 likely to be paid later today,” he told Sky News Australia. “It is a big week, and we’ll be watching the news flow coming out from the Federal Reserve, the regulators … and also the Treasury Secretary again, Janet Yellen.” Presented by CommSec.
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