The management of the American investment Silicon Valley Bank (SVB) warned the US Federal Reserve System (FRS) leadership on the day the bank was closed about the possibility of withdrawing $100 billion in deposits in one day. In this respect Wrote The Interfax agency cited a statement made by the Fed’s Vice Chairman of Banking Supervision, Michael Barr, to Congress.
According to him, on the morning of March 10, with the support of the regulator, there was still a possibility that the loan structure would meet the requirements of the depositors.
“However, that morning, the bank informed us that it expects a much larger deposit outflow. “The depositors were ready to withdraw $100 billion that day, and the bank did not have enough funds to meet such demands,” he said.
The day before, SVB customers made a record $42 billion withdrawal from their bank accounts in one day.
Press service of the Federal Deposit Insurance Corporation (FDIC) in the first half of March reported About the collapse of the American investment SVB, which ranks 16th in terms of assets in the United States. SVB has become the largest US bank to go bankrupt in the past 15 years.
This week, the First Citizens Bank & Trust Company holding amortization bankrupt SVB.
Source: Gazeta
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