SVB Bank - What Happened?
There has been much concern and confusion about what caused the Silicon Valley Bank to be taken over by Federal Regulators.
Attached is an explanation, with a timeline, of the events leading to the takeover.
The Media quickly reported the “Banking Contagion” and rightfully so there was definitely some spill over into the Banking Industry based upon consumer sentiment and concern that other Banks may follow.
With that in mind, and having the weekend to consider it’s options, the Federal Regulators moved quickly to infuse Capital into the system and thereby being able to give assurances that all depositors will have access to their monies.
We are hopeful that this situation will give the Banking Industry as a whole an incentive to re-examine their respective balance sheets and take any opportunities to assure this to be an isolated incident.
As always, we stand ready to answer any questions or concerns you may have.
Please click the below link for more information.
The Advisors and Staff of Guided Professional Solutions, LLC