Re:FDIC Takes over Silicon Valley Bank
by weard_beard on Friday March 10, 2023 @01:00PM
(#35098276)
AKA the inversion of long and short term treasury absolutely screwed them and JPow announcing additional rate hikes was the nail in the coffin.
The FT reported a couple weeks ago that they had an unrealized loss of $15B in bonds: https://www.ft.com/content/0387e331-61b4-4848-9e50-04775b4c3...
I think we'll have a much better idea of the shortfall, if any, over the weekend as the FDIC tallies up the remaining assets and deposits.