beSpacific · @bespacific
748 followers · 1206 posts · Server newsie.social
Before Collapse of #SiliconValleyBank #Fed Spotted #BigProblems. Bank was using an #incorrect #model as it #assessed its own #risks amid #rising #InterestRates & spent much of 2022 under a #SupervisoryReview....By early 2023, #SVB was in what the Fed calls a #HorizontalReview,” an assessment meant gauge strength of #RiskManagement. Checkup identified additional deficiencies but at that point the bank’s days were numbered. In early March, it faced a run & failed w/in days. https://www.nytimes.com/2023/03/19/business/economy/fed-silicon-valley-bank.html
#siliconvalleybank #fed #bigproblems #incorrect #model #assessed #risks #rising #interestrates #supervisoryreview #svb #horizontalreview #RiskManagement