It was only a few months ago when the US banking world was shocked by the collapse of Silicon Valley Bank . While the government’s bailout appeared to stabilize the situation money actually continues to flow out of regional banks and seek refuge in systemic banks and high-yield monetary funds .
Silvergate Bank is now facing its own challenges . The bank must present a liquidation plan within the next 10 days subject to approval by the California Department of Financial Protection and Innovation . A recent report from the Federal Reserve sheds light on the deep ties between Silvergate and the sunk exchange FTX which suggests that these ties may have contributed to the bank’s downfall .
In a desperate move to survive after FTX’s flop Silvergate apparently secured an unusual and controversial loan worth billions of dollars from the Federal Real Estate Loan Bank of San Francisco . The details of this loan raise eyebrows as it appears to be a home loan in a time of financial chaos .
Silvergate Bank is now facing its own challenges . The bank must present a liquidation plan within the next 10 days subject to approval by the California Department of Financial Protection and Innovation . A recent report from the Federal Reserve sheds light on the deep ties between Silvergate and the sunk exchange FTX which suggests that these ties may have contributed to the bank’s downfall .
In a desperate move to survive after FTX’s flop Silvergate apparently secured an unusual and controversial loan worth billions of dollars from the Federal Real Estate Loan Bank of San Francisco . The details of this loan raise eyebrows as it appears to be a home loan in a time of financial chaos .
Comments
Post a Comment