There were two surprising things about the failure of Silicon Valley Bank (SVB, see page 16). For an institution that very few people had ever heard of, it was huge, ranking as the 16th largest bank in the US, and even as a significant player in London, where it had close to £6.7bn in deposits. It was also extremely badly run, with appalling risk management, while the technology companies that formed its main customer base kept far
Bank collapse spells higher inflation
Mar 17, 2023
3 minutes
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