- Charles Schwab's shares have fallen 40% following Silicon Valley Bank's collapse.
- Investors are concerned about Schwab's unrealised losses on assets like Treasuries and mortgage-backed securities.
- Schwab's automatic "sweeping" of customer cash deposits into bank accounts is being affected by cash sorting.
- Schwab has had to borrow money at a higher cost to fund withdrawals into money market accounts.
- The broker issued a statement emphasizing that 80% of its bank deposits are insurable.
Charles Schwab feels heat after SVB collapse
Broker was already under pressure from customers reacting to higher interest rates
Madison Darbyshire
