> According to the press release, SVB had $206B in assets and $176B in deposits.
Those numbers are from December 2022. They had $161B in deposits prior to Thursday's $42B in withdrawals. And that $206B figure is somewhat fictional hold-to-maturity accounting. The $80B in 1.5% bonds aren't actually worth $80B at market prices.
They were shut down for being insolvent on Thursday ($950M in the hole). It's not just a liquidity problem.
Those numbers are from December 2022. They had $161B in deposits prior to Thursday's $42B in withdrawals. And that $206B figure is somewhat fictional hold-to-maturity accounting. The $80B in 1.5% bonds aren't actually worth $80B at market prices.
They were shut down for being insolvent on Thursday ($950M in the hole). It's not just a liquidity problem.