JPMorgan Chase"Current pressures facing SIVB are highly idiosyncratic and should not be viewed as a read-across to other banks," wrote analysts Manan Gosalia and Betsy Graseck with Morgan Stanley in a note Friday.Concern among founders and venture capital investors spiked earlier this week after Silicon Valley Bank surprised the market by announcing late Wednesday it needed to raise $2.25 billion in stock. The bank had been forced to sell all of its available-for-sale bonds at a $1.
The mounting pressures on SVB prompted hedge fund billionaire Bill Ackman to speculate that if private investors can't help shore up confidence in the California lender, a government bailout could be next.SVB said in a letter Wednesday that it sold "substantially all" of its available-for-sale securities made up of mostly U.S. Treasurys.
Banks over earning because not paying fair rate on deposits
Customers who try to withdraw & cause a bank run need to be criminally charged for causing this bank to fail, but people will blame it on the CEO who sold tens of millions in stock options two weeks ago instead.
$CS Credit Suisse shares hit new all-time low as banks hit by U.S. fallout
Uber has no cars Airbnb has no homes SIVB has no money Welcome to the new economy
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