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Category Archives for "Finance News"

The Collapse of Silicon Valley Bank and Its Implications

On March 17, 2023, Silicon Valley Bank (SVB) collapsed.[0] The bank, which had assets totaling $209 billion at the end of 2022, according to the Federal Deposit Insurance Corporation (FDIC), was a major lender to venture-backed technology and healthcare companies in the US. Its hyperconnected network of customers meant that a bank run could happen […]

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Credit Suisse Borrows $53.7 Billion from Swiss National Bank; US Banks Launch $30 Billion Rescue of First Republic Bank

Credit Suisse, Switzerland’s second-largest bank, announced on Wednesday that it would borrow up to 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank in a “decisive action to pre-emptively strengthen its liquidity.”[0] This comes after the bank’s largest shareholder, Saudi National Bank, said it was unable to invest more money due to regulatory […]

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