Motley Fool Chief Investment Officer Scott Phillips says Silicon Valley Bank got the basics of banking one o one wrong.
“It’s not Silicon Valley per se that caused this problem … it’s just a fundamental miss management of the very simple treasury functions of a bank,” he told Sky
News Australia.“The regulators simply weren’t there, partly, maybe they didn’t do the right job, but almost certainly the regulations themselves weren’t enough,” he said.
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Silicon Valley Bank collapse shows why APRA resists bank lobbyistsThe collapse of Silicon Valley Bank has vindicated the Australian Prudential Regulation Authority’s tougher rules and refusal to give into bank lobbying to loosen capital and liquidity requirements, experts say.
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Yellen says Silicon Valley Bank won’t receive bailout after collapseUS treasury secretary says Biden administration is working closely with regulators to help depositors as fears of banking crisis rise
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US Treasury Secretary says ‘no bailout’ for Silicon Valley Bank following collapseUS Treasury Secretary Janet Yellen has spoken to Face The Nation and says there’ll be “no bailout” of Silicon Valley Bank after its collapse, according to CommSec’s Craig James. “They’re focused on protecting the depositors and insured deposits of up to $250,000 likely to be paid later today,” he told Sky News Australia. “It is a big week, and we’ll be watching the news flow coming out from the Federal Reserve, the regulators … and also the Treasury Secretary again, Janet Yellen.” Presented by CommSec.
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US Treasury Secretary says government won't bail out Silicon Valley BankUnited States Treasury secretary Janet Yellen says the federal government will not bail out the Silicon Valley Bank, but it is working to help depositors concerned about their money.
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ASX to fall as collapse of Silicon Valley Bank hangs over marketsShares are set to open lower, following Wall Street’s retreat after Silicon Valley Bank failed. US February CPI, labour force data top weekly agenda.
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