https://sputnikglobe.com/20230314/us-justice-department-investigating-collapse-of-silicon-valley-bank-reports-1108396598.html
US Justice Department Investigating Collapse of Silicon Valley Bank: Reports
US Justice Department Investigating Collapse of Silicon Valley Bank: Reports
Sputnik International
WASHINGTON (Sputnik) - The US Justice Department launched an investigation into the collapse of Silicon Valley Bank (SVB), a American daily newspaper reported... 14.03.2023, Sputnik International
2023-03-14T18:13+0000
2023-03-14T18:13+0000
2023-03-14T18:13+0000
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silicon valley bank collapse
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California regulators shut down SVB on Friday, marking the second largest bank collapse since the 2008 financial crisis. The bank, which was popular among tech firms, was closed after a run on deposits. The investigation will focus on the bank’s collapse and the actions of its senior executives, the report said. The bank’s collapse is linked to an increase in interest rates by the Federal reserve, which caused the impairment of assets on the balance sheets of numerous financial institutions. The United States’ banking sector problem may spill over into other countries, former US Assistant Treasury Secretary Paul Craig Roberts told Sputnik. The Federal Reserve must end its high interest rate policy, Roberts added. Moody’s Investors Service on Tuesday downgraded its outlook for the US banking system from stable to negative following the collapse of SVB, Silvergate Bank and Signature Bank in recent days.
https://sputnikglobe.com/20230314/moodys-downgrades-outlook-on-us-banking-system-to-negative-1108390053.html
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silicon valley bank collapse, us, us department of justice, investigation
silicon valley bank collapse, us, us department of justice, investigation
US Justice Department Investigating Collapse of Silicon Valley Bank: Reports
WASHINGTON (Sputnik) - The US Justice Department launched an investigation into the collapse of Silicon Valley Bank (SVB), a American daily newspaper reported on Tuesday, citing a person familiar with the matter.
California regulators shut down SVB on Friday, marking the
second largest bank collapse since the 2008 financial crisis. The bank, which was popular among tech firms, was closed after a run on deposits.
The investigation will focus on the bank’s collapse and the actions of its senior executives, the report said.
The bank’s collapse is linked to an increase in interest rates by the Federal reserve, which caused the impairment of assets on the balance sheets of numerous financial institutions.
The United States’ banking sector problem
may spill over into other countries, former US Assistant Treasury Secretary Paul Craig Roberts told Sputnik. The Federal Reserve must end its high interest rate policy, Roberts added.
Moody’s Investors Service on Tuesday downgraded its outlook for the US banking system from stable to negative following the collapse of SVB, Silvergate Bank and Signature Bank in recent days.
