For example, Banco Sabadell fell by 9.75%; Santander, 7.85%; Banker, 7.16%; CaixaBank, 7.14%; BBVA, 7.06%; and Unicaja Banco, 6.91% at 10:35 am
Euskaraz irakurri: Bankuek %7 eta %10 arteko galerak izan dituzte et burtsak suspertu ezinik daude, SVBren porrotaren ondotik
The banking It fell between 7% and 10% after initial trading phases on Monday and dragged the Ibex 35 down 4% after the SVB Financial Bank intervened on Friday by the United States government after a significant deposit leakage.
In fact, this Monday HSBC Holdings announced that its subsidiary in the United Kingdom, HSBC UK Bank, Silicon Valley Bank UK Limited (SVB UK) for one pound sterling (1.13 euros).
For example, Banco Sabadell fell by 9.75%; Santander, 7.85%; Banker, 7.16%; CaixaBank, 7.14%; BBVA, 7.06%; and Unicaja Banco, 6.91% at 10:35 am
Faced with this pressure, the Ibex 35 lost about 3.71%, dropping it to 8943.1 integers and with all its readings in ‘negative’.
The Silicon Valley Bank debacle affects banks inside and outside the US.
The debacle of the Silicon Valley Bank (SVB), which intervened after its shares collapsed in two consecutive days due to its severe financial problemshas hit the entire industry inside and outside the United States and has sparked fears among some investors that it is the prologue to another crisis.
Shares of SVB – a bank that focuses primarily on technology and science start-ups – plummeted 60% on Thursday and fell another 68% last Friday before being suspended from the exchange.
Subsequently, the California Department of Financial Protection and Innovation, where the bank is headquartered, seized control of the company, reportedly lack of liquidity and insolvencywith the aim of protecting government-insured deposits.
The fall of SVB, which had assets of approximately $209,000 million and deposits of approximately $175,400 million as of December 31, 2022, is the largest bank failure since the 2008 crisis and one of the most important in the history of the United States.
US launches plan to protect SVB assets
United States regulators launched a plan yesterday, Sunday, to protect Silicon Valley Bank (SVB) deposits after the collapse, while another banking institution, Signature Bank, closed under the same parameters.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
