As I write this, convulsions in world financial markets continue, particularly in the banking sector. Silicon Valley Bank, Silvergate, Signature, First Republic Bank of California and the once-staid 166-year-old Credit Suisse. All dead or dying or saved...
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THE FINANCE GHOST: The Lehman Bros of Silicon ValleyThe implosion of SVB is a cautionary tale to all other lenders on how not to manage interest rate risk
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OPINIONISTA: New World Economy — the global banking crisis in a time of war, geopolitical tensions and climate shocksThe immediate question is whether Silicon Valley Bank’s failure is the start of a more general bank crisis. The rise of market interest rates caused by the Fed and European Central Bank’s tightening has impaired other banks as well. Now that a banking crisis has occurred, panics by depositors are more likely.
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Credit Suisse thrown $54bn lifeline in rush to ward off global bank crisisCredit Suisse will borrow up to $54bn (about R990bn) from Switzerland’s central bank to shore up liquidity and investor confidence, after a slump in its shares intensified fears about a global banking crisis.
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