Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
Ashlee Vance explores innovations in new tech, software, engineering, and science in places outside of Silicon Valley.
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Max Reyes and
Silvergate Capital Corp.’s abrupt shutdown and SVB Financial Group’s hasty fundraising have sent US bank stocks diving and tongues wagging across the industry: Could this be the start of a much bigger problem?
The issue at both of the once-highflying California lenders was an unusually fickle base of depositors who yanked money quickly. But below that is a crack reaching across finance: Rising interest rates have left banks laden with low-interest bonds that can’t be sold in a hurry without losses. So if too many customers tap their deposits at once, it risks a vicious cycle.