Silicon Valley Bank

We are discussing the collapse of Silicon Valley Bank and the recent banking stresses in general. What happened? To what extent is SVB special? Do other banks face similar risks?

To prompt discussion, we first have a Bloomberg article by Matt Levine from the day the FDIC shut down SVB.

• Startup Bank had a Startup Bank Run by Matt Levine (March 10th)

Next are a trio of Substack posts by Daniel Neilson that use balance sheets to describe the situation from a money-view perspective.

• Silicon Valley Bank: The systemic view by Daniel Neilson (March 16th)
• Plugging the leaks: Three refinancing channels, so far by Daniel Neilson (March 21st)
• The SVB panic and the Fed: Video interview and graphs by Daniel Neilson (March 21st)

Finally, here is a Financial Times piece by Laura Noonan and Brooke Masters that explores the broader context of rising interest rates and strain on the banking system.

• What are banks’ weaknesses as interest rates rise? by Laura Noonan and Brook Masters (March 30th)