beSpacificMar 17, 2023
U.S. #banks #borrowed a combined $164.8B in recent weeks from the #FederalReserve #Fed #backstop facilities. The move signals that the banking sector faces strain after #FederalRegulators were forced to seize #SiliconValleyBank and #SignatureBank last week. https://www.bloomberg.com/news/articles/2023-03-16/banks-rush-to-backstop-liquidity-borrow-164-8-billion-from-fed #FinancialCrisis #FinancialStability #banking #regulations #SystemicRisk
Banks Borrow $164.8 Billion From Fed in Rush to Backstop Liquidity

Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure.

Bloomberg
LilMikeSFMar 10, 2023

Contagious collapse of major #TechStartUp #investment fixture #SiliconValley Bank , now shut down by #FederalRegulators roils #FinancialMarkets, panics #BayArea #StartUp #founders.
#SantaClara based #Bank reveals sell off of $21 billion in #assets and need to sell more as #InterestRate rise slows biz.

https://www.washingtonpost.com/technology/2023/03/09/silicon-valley-bank-shares/ #InvestmentBanking #PyramidCollapsing

Silicon Valley Bank closed in second-biggest bank failure in U.S. history

A major sell-off in shares of a key Silicon Valley financial institution is fueling fears the tech industry's economic situation is worsening.

The Washington Post