Silicon Valley Bank sold its bond portfolio last week to Goldman Sachs, a move that reportedly set SVB failure in motion and caused depositors to flee.
FOX Business senior correspondent Charlie Gasparino discusses the collapse of Silicon Valley Bank and calls for the Fed to pause rate hikes on 'Kennedy.'
Goldman Sachs was the purchaser of the bond portfolio that Silicon Valley Bank booked a $1.8 billion loss on, setting SVB's failure into motion.The loss was the reason the technology-focused lender attempted a $2.25 billion stock sale last week usingThe capital raise failed as depositors fled, and investors worried SVB would have needed even more capital.
In this photo illustration a Goldman Sachs Group logo seen displayed on a smartphone with a Goldman Sachs Group logo in the background. The transaction was carried out "at negotiated prices" and netted the bank $21.45 billion in proceeds.was handled by a division separate from the unit that handled SVB's stock sale, according to a person familiar with the matter.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Silicon Valley Bank Collapse: US Moves to Protect Deposits, HSBC to Buy SVB's UK SubsidiaryGovernments in the U.S. and Britain are taking extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank.
Lire la suite »
Silicon Valley Bank collapse: How SVB stock price performed in 5 yearsSilicon Valley Bank had been rated as one of the top banks in America for five years before its closure by U.S. regulators in March 2023.
Lire la suite »
SVB collapse: HSBC buys Silicon Valley Bank's UK branch for just over $1HSBC acquired the U.K. branch of the failing Silicon Valley Bank for just 1 pound, or $1.21.
Lire la suite »
SVB collapse: Silicon Valley Bank is not getting a bailoutThe term “bailout” is a dirty word, and rightly so. When taxpayers are forced to pay for the mistakes of corporate executives, and investors who were supposed to be monitoring those executives, bad incentives for risk-taking are created.
Lire la suite »
Silicon Valley VCs vow to work with SVB if a new owner is foundHundreds of venture-capital firms, including Sequoia Capital and RRE Ventures, have pledged to work again with Silicon Valley Bank if a new owner is found.
Lire la suite »
Traders blame SVB collapse on Silicon Valley 'greed and avarice'Traders blame the collapse of Silicon Valley Bank on SVB's 'greed and avarice' - and the Fed is now in a tight spot because of it.
Lire la suite »