The Ripple Effect of Small Bank Stress on Emerging Markets
TL;DR Summary
Following the collapse of Silicon Valley Bank, start-ups and VCs have turned to Bank of America, which brought in more than $15 billion in deposits as SVB sunk. JPMorgan and Citigroup have also seen an influx of new customers. SVB's collapse was due to a $1.8 billion loss on a $21 billion bond portfolio sold to Goldman Sachs.
- Bank of America won big from the Silicon Valley Bank collapse Fortune
- Inside the Collapse of Silicon Valley Bank The New York Times
- Relief checks live updates: Social Security payments, stock exchange, bank collapse, bailout… AS USA
- Will another bank fall? Financial Times
- MAMOKETE LIJANE: Stress in small US banks could filter through to emerging markets BusinessLIVE
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