Cause of bankruptcy of Silicon Valley Bank unveiled

11:02 - 28.03.2023

March 28, Fineko/abc.az. The bankruptcy of Silicon Valley Bank (SVB) is an "incident of mismanagement", and, in addition, the bank's management failed to effectively manage the liquidity risk using the discount rate. 

ABC.AZ reports that Mikhail Bar, deputy chairman of the Federal Reserve for Financial Organizations stated about this. He noted that the U.S. banking system has strong capital and is stable in its liquidity. Bar stressed that they are ready to use all the tools for institutions of any size to keep the system safe and sound if necessary.

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