siliconvalleybank
By Mohammed Kudrati The Reserve Bank of India [RBI] today kept its benchmark policy repo range unchanged at 6.5% for the first time after six bi-monthly rate hikes since 2022. This move was voted on unanimously at the bi-monthly meeting its six-member Monetary Policy Committee. In his address, Governor Shaktikanta Das, however, said that the RBI would be ready to adapt to any circumstances and said that the pause was for this meeting only. "Let me emphasise that the decision to pause on the repo rate is for this meeting only", he said. He explained this pause by citing financial turbulence abr...
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By Mohammed Kudrati The collapse of five banks over 12 days has caused shockwaves throughout global financial markets. These five banks are spread across the United States and Europe. There is little to link them directly, except the general trends of central banks raising interest rates to combat inflation and COVID-19 pandemic-era easy money policies. However, their near simultaneous troubles have led to regulators across the globe hurriedly taking measures to prevent further crisis. Though not all of these five banks have failed, and a larger domino effect is yet to be observed; the pace of...
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By Mohammed Kudrati US President Joe Biden assured depositors of full access to the entirety of their funds as New York-based Signature Bank was taken over by regulators in a late-night manoeuvre on March 12. The bank had $114 billion in assets and is the third largest US bank failure. This marks the third US bank to fail in a week in what poses to be major challenge to US regulators since the 2008 financial crisis. Another crypto-linked bank, Silvergate Bank, was liquidated by its parent, Silvergate Capital. The bank popularly held an account of the crypto-exchange FTX, which went through tro...
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By The Conversation William Chittenden, Texas State University Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver. SVB, as it’s known, was the biggest U.S. lender to fail since the 2008 global financial crisis – and the second-biggest ever. We asked William Chittenden, associate professor of finance at Texas State University, to explain what happened and wheth...
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By Mohammed Kudrati Silicon Valley Bank, a startup-focused lender based in California, was taken over by regulators late on Friday due to its poor capital conditions. Earlier in the day, its customers raced to withdraw nearly $42 billion according to the Financial Times, nearly a quarter of its deposits. Such a scenario is called a 'run on the bank' and is a sign of trouble for any banking institution. The newspaper says that Silicon Valley Bank is the 16th largest bank in the United States by assets, at $206 billion, and its failureis the second largest in history after fall of the Washington...
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