SVBs

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WASHINGTON—The Federal Reserve may close a loophole that allows some midsize banks to effectively mask losses on securities they hold, a contributing factor in the collapse of Silicon Valley Bank.  Led by vice chair for supervision Michael Barr, the Fed is considering ending an exemption that allows some banks to boost the amount of capital they report for regulatory purposes, according to people familiar with the matter. Capital is the buffer banks are required to hold to absorb potential losses.…

WASHINGTON—The Federal Reserve raised concerns about risk management at Silicon Valley Bank starting at least four years before its failure earlier this month, documents show. In January 2019, the Fed issued a warning to SVB over its risk-management systems, according to a presentation circulated last year to employees of SVB’s venture-capital arm, which was viewed by The Wall Street Journal.  WASHINGTON—The Federal Reserve raised concerns about risk management at Silicon Valley Bank…

For years Silicon Valley Bank was a lender of choice for climate technology startups keen to tap specialised support for early-stage companies. Post its collapse, they may face higher finance costs wherever they next choose to bank.The meltdown of the 40-year-old lender triggered days of stressful phone calls for many types of technology firms as they lined up contingency plans for funds, although some calm returned after U.S. authorities stepped in to insure their deposits.For businesses with an environmental mission,…

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Happy Friday Crunch! There’s a persistent theory in hardware that manufacturing overseas is the cheaper/better/more efficient option. You manufacture there, assemble somewhere else, and finally approve and get to market in the United States, Haje writes on TC+. It turns out that it’s possible to manufacture closer to home. With supply chains in the news more than ever, “nearshoring” is…

The entity that once owned the poor, beleaguered Silicon Valley Bank, the main banking house for numerous tech-focused firms and venture capitalists, is officially holding up a white flag as it suddenly declared bankruptcy.On Friday, SVB Financial Group declared Chapter 11 bankruptcy in Manhattan bankruptcy court. According to the bankruptcy filings, the bank’s parent entity marked it had between 1,000 and 5,000 creditors. Chapter 11 is often called “reorganizational” bankruptcy, as the company is supposed to use the…

Turmoil in the financial system set off by the failure of Silicon Valley Bank has many people feeling a bit uneasy over where they’ve got their money parked. They’re wondering whether their banks could go the way of SVB or New York-based Signature Bank, which regulators also just shuttered. That has caused some consumers to take their deposits over to the big banks — the JPMorgans of the world that are considered too big to fail and more tightly regulated. It’s an understandable move for people who are feeling a…

Silicon Valley Bank — a California-based bank that largely catered to technology, venture capital and startup-focused customers — made news as it swiftly collapsed, creating great concern over the billions of dollars it held in deposits. The bank was insured by the Federal Deposit Insurance Corp., and on Monday, the FDIC took over SVB’s operations so customers wouldn’t lose their funds, even those above the insurable limit. These customers, some of which were businesses that needed to be able to pay their employees, have…

“In case of India, the number of Indian startups is definitely very high compared to other nations, except for US, but the capital would not be as much,” says Smriti Tomar, founder and CEO of Stack, a Y Combinator–backed startup, which had some funds in SVB. “What we can safely assume from that is that most startups have an exposure somewhere between $250,000 up till $1.5 million—this was the bracket where the majority of the startups believe that the money is blocked.”Over the weekend, after SVB went down, hundreds of…