3 ms·
It felt like there was a distinction between the community bank with a few billion under management and banks like SVB with hundreds of billions under managemen
by mikeyouse 4y ago
It felt like there was a distinction between the community bank with a few billion under management and banks like SVB with hundreds of billions under management. SVB-sized banks felt “safe” post-2008, apparently they’re not.
- JumpCrisscross 4y ago> SVB-sized banks felt “safe” post-2008, apparently they’re not I don’t think SVB has ever had an investment-grade (EDIT: issuer) credit rating. Certainly not in the last year.
- mikeyouse 4y agoIt sure did, every part of their business was investment grade and as of last week it was rated A by Moodys. https://ir.svb.com/shareholder-and-bondholder-information/credit-ratings/default.aspx https://ir.svb.com/shareholder-and-bondholder-information/cr...
- JumpCrisscross 4y agoSorry, flubbed. They were medium risk, not junk, but borderline investment.
- paulddraper 4y agoWashington Mutual was bigger then SVB, even ignoring inflation