은행

상황에 빠지게 됐다.

Silicon Valley Bank (SVB), ranked 16th in US Banks, is reported to be in a state of bankruptcy and worries that it will cause shockwave in the whole financial industry. This bank’s bankruptcy is the biggest bank collapse since the financial crisis in 2008 and the second biggest in US History. On the 10th (local time), the California Financial Protection Innovation Agency closed down Silicon Valley Bank’s operation and transferred its assets to the Federal Deposit Insurance Corporation. The Federal Deposit Insurance Corporation will pay up to $250,000 (about 330 million won) per person as guaranteed deposits and then distribute the remaining assets to depositors. Established in 1983, Silicon Valley Bank in Sanata Clara, California, closed its door in less than 48 hours. On the 8th, the bank announced to sell its bonds at the expense of loss in order to improve its financial structure and to issue new shares of 2.25 billion dollars. Due to the rising interest rates, the value of bonds held by the bank decreased and it faced difficulties in securing new funds. After the announcement, venture capitalists judged that the bank’s soundness problems had escalated and sent emails to customers recommending them to withdraw deposits. On the 9th, one day after this, a bank run occurred and $42 billion deposits were withdrawn. reported that this was the largest bank run in US history. Even with the bank’s balance of $958 million, the large-scale bank run resulted in a deficit. On the morning of the 10th, the stock price of the bank fell 62%, and after the trading was suspended, the business closure order was issued. At the end of last year, the asset size of the Silicon Valley Bank was 209 billion dollars (about 27.6 trillion won). Initially, it is expected that this bank’s depositors will suffer direct and great loss. At the end of last year, the amount of deposits not covered by deposit insurance was 165.4 billion dollars. On broadcasting, immediately after the announcement of the closure order, a group of people with desperate expressions, mainly start-up entrepreneurs, crowded at Silicon Valley Bank’s only 17 branches in California and Massachusetts, but to no avail. Experts in the financial market predict that Silicon Valley Bank’s closure will cause widespread damage to start-ups. There are places that can not even pay their employees’ salary due to lack of money. It is expected that half of the technology-based start-ups and medical service companies that are supported by venture capitalists will be in a hard situation for recovery due to their transactions with this bank.