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Your Weekend Reading: Fear of Contagion After SVB Implodes

Silicon Valley Bank suffered a $1.8 billion loss and plans to raise money by selling shares. Rising interest rates left banks laden with low-interest bonds. Crypto lender Silvergate Capital also plans to shut down.

1 min read
  • Silicon Valley Bank lost $1.8 billion on securities sales and made plans to raise money by selling shares.
  • SVB became the biggest US bank to fail in more than a decade.
  • Crypto lender Silvergate Capital also plans to shut down.
  • Rising interest rates left banks laden with low-interest bonds that can’t be sold in a hurry without incurring big losses.
Your Weekend Reading: Fear of Contagion After SVB Implodes
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BloombergVictoria Cavaliere

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