With the collapse of SVB, venture debt is drying up An important source of funding for startups is harder to come by, and while private loans are an alternative they’re much more expensive. Fortune · Apr 17, 2023
JPMorgan’s newest board member is thinking about risk Alicia Boler Davis, who has held senior leadership roles at Amazon and GM, explains why she was drawn to the banking giant and what’s on her mind as she takes up the new role. Fortune · Apr 14, 2023
Bank bosses are hiding $600 billion in unrealized losses to keep their mega bonuses. Here’s why portfolio securities should be marked to market It's time for regulators to require that all securities be marked to market and reflected in banks' income, without resorting to clumsy exceptions. Fortune · Apr 14, 2023
Warren Buffett slams failed banks for doing ‘dumb things’ but says ‘depositors will be safe no matter what’ Buffett blamed failed-bank executives for causing instability in the financial sector Wednesday, but said with regulators’ backing, “banks can go bust” and “depositors aren’t going to be hurt.” Fortune · Apr 12, 2023
Weeks after his ‘big failure’ losing almost $2 billion on SVB, Sweden’s top pension fund chief sacked ‘with immediate effect’ Magnus Billing urged Alecta to “take actions based upon the lessons learned.” The action was his dismissal. Fortune · Apr 11, 2023
The strange case of SVB Capital Hundreds of pages of bankruptcy filings reviewed by Term Sheet outline the bizarre limbo the VC unit finds itself in. Fortune · Apr 10, 2023
Leaders lost their discipline. Now employees are paying the price. Business leaders are changing tactics as the consequences of our abnormal pandemic behavior finally hit home. Fortune · Apr 10, 2023
JPMorgan Chase CEO Jamie Dimon says we are ‘near the end’ of the banking crisis “I think we’re getting near the end of this particular crisis,” Dimon told CNN Thursday—but he still worries about the potential for a U.S. recession. Fortune · Apr 7, 2023
The Week Ahead: Watching for the balancing act by big banks There are banks and then there are systemically important banks. These banks are too-big-to fail. They are required to maintain certain financial buffers to protect depositors from fast moving markets, concentrated bank investments and guard against putting the broader financial system at risk. Miami Herald · Apr 7, 2023
Raghuram Rajan says banking system is headed for more trouble Raghuram Rajan — the former International Monetary Fund chief economist who predicted the global financial crisis more than a decade ago — warned that the banking system is headed for more turmoil after the rescues of Silicon Valley Bank and Credit Suisse. The Times of India · Apr 6, 2023
6 takeaways from JPMorgan Chase CEO Jamie Dimon’s annual letter to shareholders Jamie Dimon wrote about the Fed's role in SVB's meltdown, A.I. improving efficiency in banking, seeing Apple and Walmart as competitors, and more. Fortune · Apr 4, 2023
Financial turmoil will be felt for years, says JP Morgan boss Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence The Guardian - UK · Apr 4, 2023
Jamie Dimon says the banking crisis was ‘hiding in plain sight’ and will now be felt 'for years to come’ The JPMorgan Chase CEO also outlined his thoughts on a potential recession in his annual shareholder letter this week, and discussed consumers’ fading savings. Fortune · Apr 4, 2023
Jamie Dimon urges policymakers to avoid 'knee-jerk, whack-a-mole' regulations in aftermath of SVB collapse The J.P. Morgan CEO warned any new ill-advised oversight rules could actually backfire, with unsupervised tech companies like Apple winning out. Fortune · Apr 4, 2023
Evening Standard · Apr 4, 2023 OPINION - The SVB affair was a near-miss for UK tech: what do we know now? How big a role should heritage banks play in the ultra-modern tech finance world?
Fortune · Apr 4, 2023 The banking crisis has a silver lining. Businesses might actually start protecting their cash Humans are naturally quite bad at projecting risk. We rarely think about what might happen if there is a sudden ban run and our deposits are in peril.
Salon · Apr 4, 2023 MAGA rule will be ruinous for earth MAGA seems intent on driving this country and our world all too literally to hell in a handbasket
Birmingham Post · Apr 3, 2023 Are the banks really in trouble? 'Let’s remember the USA isn’t Europe. They have a two-tier banking system and SVB is just a regional bank.'
Bangkok Post · Apr 2, 2023 Rebalance your portfolio Investors have been keeping an eye on assets offering a decent return this year amid global market volatility and an economic slowdown.
Zenger · Apr 2, 2023 Mercury Takes Aim At Replacing Silicon Valley Bank As Tech Hubs Go-To Bank And Lender Silicon Valley Bank’s collapse has paved the way for other banking institutions to step up and meet demand for venture debt
Fortune · Apr 1, 2023 From stability to consolidation to the big crunch, here are the 3 questions every small business owner is asking about the banking system The bank crisis could spark a credit crunch that will rock the economy. It'll be a major test for small businesses.
Los Angeles Times · Mar 31, 2023 Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.
Fortune · Mar 31, 2023 A top strategist says ‘massive unrealized losses’ are a ‘Pandora’s box’ for banks and it’s going to impact lending Bank volatility has finally started to calm down, but the sector has underlying issues that will be harder to fix.
Miami Herald · Mar 31, 2023 The Week Ahead: What difference will a month with two bank failures make for jobs? Thirty days ago, few Americans knew what Silicon Valley Bank was or worried about their own bank accounts. Thirty days ago, the Federal Reserve had one fight on its hands: inflation. Thirty days ago, investors were buoyed by decent economic data — but not too strong — supporting confidence the…
Fortune · Mar 31, 2023 FDIC chair Gruenberg gets heat from lawmakers over bargain basement SVB deal Shares in regional lender First Citizens skyrocketed this week after scooping up SVB on the cheap, prompting questions from Congress whether the FDIC negotiated a poor deal that will now cost banks $20 billion.