Page 18 - Zenith 2023-웹용

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Zenith 2023 ↘ 2) Global Issues 18

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SVB Bankruptcy (2023)

Silicon Valley Bank (SVB), the 16th largest
asset in the United States, went bankrupt on
March 10, 2023. Concerns Over the Trigger of
the Global Financial Crisis...

Silicon Valley Bank (SVB), the 16th largest asset in
the United States (total assets of $209 billion), went
bankrupt on March 10, 2023, about two days after
the Bank Run (large-scale deposit withdrawal).SVB,
headquartered in Santa Clara, California, USA, is a
startup bank established in 1983 and has operated
a total of 17 branches in California and Massachusetts. Meanwhile, in Korea, there are no SVB branches,
but the National Pension Service is known to have invested a significant amount, which is said to have
107,795 shares (worth 29.4 billion won) of the bank as of the end of 2022.SVB, why is it bankruptSVB
has used deposits entrusted by customers more focused on purchasing long-term assets such as U.S.
government bonds and mortgage securities than loans to other consumers. Then, in 2022, the sharp
interest rate hike reduced deposits entrusted by companies, while withdrawals increased, and the balance
began to decrease sharply. It also suffered heavy losses as bond prices plunged in 2022.As a result, the
U.S. government announced that it would guarantee full repayment to depositors.On March 12, 2023,