First, the balance between the bank's assets (its loans…) Keep in mind those loans are largely being paid by SVB customers that are very likely scrambling to m

First, the balance between the bank's assets (its loans…) Keep in mind those loans are largely being paid by SVB customers that are very likely scrambling to make sure they can pay their employees right now. It’s pretty assured that more SVB loans will be defaulting in the coming weeks than if their depositors didn’t lose access to about half of their money.