Scholars Corner: Biggest Lessons to Learn from SVB & Signature Bank Collapse

Earn Your Leisure

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4.8 • 7.8K Ratings

🗓️ 22 March 2023

⏱️ 11 minutes

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Summary

I'm this Scholars Corner we discuss the collapse of SVB, the biggest collapse since 2008. What is the future for other banks?

#earnyourleisure #banking #svbc

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Transcript

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0:00.0	The first thing that we have to talk about is the biggest thing that has happened last week.
0:04.8	Silicon Valley bank collapse.
0:09.0	We'll give some preference on this, but this is the second bank to collapse in a week.
0:15.4	Yeah.
0:17.4	One of the biggest bank crisis in American history.
0:21.6	Yeah.
0:22.6	The biggest was 2008.
0:23.7	Yeah.
0:24.0	And this was the biggest bank to fail since 2008.
0:27.6	What pretty much caused it at a very high level explanation is they didn't have enough money.
0:34.9	But they overlavered themselves.
0:36.2	You know, when the fed raised interest rates, they were invested in bonds and mortgage-backed securities that didn't work out for them actually lost money.
0:45.7	And they announced that they needed $2 billion to remain solvent.
0:49.5	When they announced that they needed $2 billion to remain solvent, there was a rush on the bank.
0:54.4	Obviously, people were scared.
0:55.9	Like, they didn't have enough money.
0:58.4	They didn't have enough.
1:00.3	So then the FDIC has to step in and now they're working through that.
1:04.8	They said that everybody that has was FDIC and short will have their money, but had their money today.
1:10.7	And then everybody else they're working on within the next week.
1:14.2	So it was a very, in this bank, a lot of people have not heard of, but it's one of the biggest banks in America.
1:18.2	I think it's 18 biggest bank in America, something like that around that.
	...

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