Wall Street: The fight for SVB’s customers

The latest in finance.
View in browser
INSIDER
Subscribe

10 THINGS ON WALL STREET

Hey there! Dan DeFrancesco in NYC.

When federal regulators stepped in to guarantee deposits at Silicon Valley Bank and Signature Bank late Sunday (more on that here), the goal was simple: Ease the public concerns and calm the markets. 

Not so fast, my friend!

There was plenty of pain to be felt in the markets Monday, specifically among regional banks. 

So, what are you waiting for? Let's get into it. 


If this was forwarded to you, sign up here. Download Insider's app here.


SVB

1. So about that auction... SVB Financial Group, the parent company of Silicon Valley Bank, is still looking for a buyer. There was at least one bidder in Sunday night's auction, but it was turned down by the FDIC. More on what comes next and who could still end up buying SVB.

2. And so begins the fight for $200 billion in deposits. The downfall of SVB means that plenty of people and startups are looking for a new bank. Here's an inside look at where they are headed.

3. Who comes out on top from all this? It might seem crass to think about winners and losers, but this is Wall Street. Here's a rundown of the people and firms that are better off now than they were a week ago, and the ones who faced a setback. Check out the full list here.

4. Won't get fooled again. After a tumultuous weekend when they saw their startups' lives flash before their eyes, nine founders who banked at SVB share where they are moving their money. Meanwhile, one tech founder's experience dealing with the SVB led to an existential crisis.

5. Read this if you're a worrywart. A couple banks failing doesn't instill confidence in the wider financial markets. But, rest assured, SVB's blowup is a far cry from the 2008 financial crisis. Here's why.

6. Meanwhile, in the UK. Silicon Valley Bank's UK arm was sold to HSBC for roughly $1 (no, I'm not missing any zeros). Here's an inside look at the wild weekend it took to get the deal done.

7. Silicon Valley Bank died so interest-rate hikes would stop. SVB's failure could put an end to the aggressive rate hikes that have plagued the market for nearly a year. Some silver linings on why SVBs downfall might help the market in the long run.

8. The politicians are weighing in. Republicans are criticizing the bailout for benefiting the rich and pointing to SVB's "woke" politics as the reason for its downfall. Democrats are blaming Trump-era regulations for setting the stage for the collapse. And Democratic Sen. Elizabeth Warren doesn't understand why bank customers get a bailout but not student loan borrowers.

9. This ain't your grandparents bank run. An interesting piece of the SVB failure was how quickly it all occurred. That's thanks in large part to a banking system that's largely digital. More on why the digital age for a lender is also a dangerous one.

10. One SVB asset that's not in decline: company swag. From cardboard boxes to wine tumblers, anything with an SVB logo is being put up for sale on eBay. Check out some of the stuff here.


Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London. 

 

Older messages

Why Silicon Valley Bank failed

Monday, March 13, 2023

Plus: The next pandemic, and aircraft 'close calls' on the rise. View in browser Subscribe March 13, 2023 Hello, Insiders. The markets are in chaos as the Silicon Valley Bank contagion spreads.

Wall Street: Banks’ wild weekend

Monday, March 13, 2023

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET What a weekend! Dan DeFrancesco in NYC. What do you think we've got for stories today? It's all about

How Silicon Valley Bank imploded

Sunday, March 12, 2023

Plus: DOJ's Epstein investigation, and how to invest in AI. View in browser Subscribe March 12, 2023 Hi, I'm Matt Turner, the editor in chief of business at Insider. With the failure of Silicon

Biggest bank failure since 2008

Saturday, March 11, 2023

Plus: How to travel the world, and no one knows how to hang out. View in browser Subscribe March 11, 2023 Hello, Insiders. Get ready: Daylight-saving time kicks in overnight. It's one of the most

Silicon Valley Bank crisis

Friday, March 10, 2023

Plus: DOJ's Epstein investigation, and where to buy a home. View in browser Subscribe March 10, 2023 Hello, Insiders. There's major news going on today, so we'll get right to it. My usual

You Might Also Like

After inauguration, it's time to talk taxes

Wednesday, January 15, 2025

plus toad fashion + Post Malone ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Harry's Take 1-15-25 Stocks Look to Break Lower: Another Sign of a Top on December 16

Wednesday, January 15, 2025

Harry's Take January 15, 2025 Stocks Look to Break Lower: Another Sign of a Top on December 16 As we go into the new year, already with signs of a failed Santa Claus Rally and a failed first 5

🇺🇸 America's tariff future

Tuesday, January 14, 2025

A possible go-slow approach to tariffs, a spending worry for China, and the next obesity drugs | Finimize TOGETHER WITH Hi Reader, here's what you need to know for January 15th in 3:14 minutes. The

It’s a new year, get a new savings account

Tuesday, January 14, 2025

Earn more with high-yield options! ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Private Equity Is Coming for Your 401(k)

Tuesday, January 14, 2025

The industry wants in on Americans' $13 trillion in savings ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

This Skateboarding Economist Suggests We Need More Skateparks And Less Capitalism

Tuesday, January 14, 2025

A skateboarder presented an unusual paper at this year's big meeting of American economists. View this email online Planet Money Skateonomics by Greg Rosalsky “The Skateboarding Ethic and the

Elon Musk Dreams, Mode Mobile Delivers

Tuesday, January 14, 2025

Join the EarnPhone revolution ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Shaping inflation expectations: the effects of monetary policy

Tuesday, January 14, 2025

Natalie Burr In economic theory, expectations of future inflation are an important determinant of inflation, making them a key variable of interest for monetary policy makers. But is there empirical

🌎 Another hottest year

Monday, January 13, 2025

Global temperatures crossed a threshold, oil prices bubbled up, and crypto's AI agents | Finimize Hi Reader, here's what you need to know for January 14th in 3:06 minutes. Oil prices climbed

Have you seen the Best Cars & Trucks of 2025?

Monday, January 13, 2025

Get a quote and protect your new wheels with Amica Insurance ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌