Timeline: How did Silicon Valley Bank collapse in 48 hours?
CGTN, 14 Mar 2023
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https://news.cgtn.com/news/2023-03-14/Timeline-How-did-Silicon-Valley-Bank-collapse-in-48-hours--1iaxVAA195K/index.html
Silicon Valley Bank (#SVB) announced on March 8 that it lost $1.8 billion in the sale of U.S. treasuries and mortgage-backed securities it had invested in, owing to rising interest rates. Just two days later, the Santa Clara-headquartered bank was closed by regulators, according to the U.S. Federal Deposit Insurance Corporation. The SVB's failure is the largest bank failure since the collapse of U.S. savings and loan association Washington Mutual in 2008, The Associated Press reported. So how did the 16th largest bank in the U.S. collapse in just 48 hours? #US #finance
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https://news.cgtn.com/news/2023-03-14/Timeline-How-did-Silicon-Valley-Bank-collapse-in-48-hours--1iaxVAA195K/index.html
Silicon Valley Bank (#SVB) announced on March 8 that it lost $1.8 billion in the sale of U.S. treasuries and mortgage-backed securities it had invested in, owing to rising interest rates. Just two days later, the Santa Clara-headquartered bank was closed by regulators, according to the U.S. Federal Deposit Insurance Corporation. The SVB's failure is the largest bank failure since the collapse of U.S. savings and loan association Washington Mutual in 2008, The Associated Press reported. So how did the 16th largest bank in the U.S. collapse in just 48 hours? #US #finance
Subscribe to us on YouTube: https://goo.gl/lP12gA
Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8
Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv
