Video: Silicon Valley Bank’s swift collapse prompted regulators to implement a series of emergency measures to stem the fallout and shore up confidence in the banking system. Here's how the week unfolded.
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Video from around the world on the latest news developments, with insight from Wall Street Journal editors and reporters.Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol met in Tokyo on Thursday. Japan said it would ease some export restrictions on South Korea, as the two countries work to repair relations strained by historical disputes.
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These companies had billions of dollars at risk in Silicon Valley BankSee the billions of dollars of unprotected deposits and other holdings that companies had at Silicon Valley Bank, before federal financial regulators stepped in to secure the deposits likely averting a meltdown in the U.S. banking sector.
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Biden's claim that Silicon Valley Bank bailout wouldn't cost taxpayers contradicts fiscal reality: economistThe Biden administration has insisted taxpayers will not be on the hook for the recent bailout of SVB, but a Heritage economist says that 'doesn't pass the smell test.'
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Bankers put focus on woke causes; Clinton, Pelosi campaign donors filled Silicon Valley board seatsThe woke philosophy of Silicon Valley Bank didn’t directly cause the cash crunch that led to its rapid failure, but analysts say the bank’s management paid more attention to its climate and social justice mission than its financial health.
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Yellen tells Congress that U.S. banking system still ‘sound’ after collapse of Silicon Valley BankTreasury Secretary Janet Yellen told lawmakers Thursday that the nation’s banking system “remains sound” and that Americans shouldn’t worry about their deposits, a week after the second-largest bank collapse in U.S. history.
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Silicon Valley Bank’s implosion leaves a gaping hole for start-upsThe tech world relied on Silicon Valley Bank for everything from mortgages to credit cards. Its implosion has left them reeling.
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