Following the Silicon Valley Bank, the New York Marking Bank also announced its closure, causing global financial panic, and was worried that the Wall Street Loan Crisis in 2008, which almost destroyed the global economy, was repeated, and the major European and Asian stock markets were affected by selling pressure.The U.S. government has made a decision and announced that it will guarantee the deposit of all domestic bank deposits and avoid collective crowding chaos in banks.The development of the incident reflects that the market confidence is quite fragile, and the lack of confidence is not only manifested in the financial industry, but also the overall economy is soldiers and trees under the high pressure of inflation.To become a world financial hub, Singapore must learn from experience and lessons.
With the strong intervention of the U.S. government and stabilizing market sentiment, the two US banks' closure crisis this time is not as serious as the 2008 subprime mortgage crisis, and it may be very small.The panic performance of the market's instinct after the closure of Silicon Valley announced on March 10, which also stemmed from New York City Financial Supervision officials on the grounds of worrying about "systemic risk" on the grounds of worrying about "systemic risks".The banking bank, and Yinmen Bank, which is also in the field of cryptocurrency, announced the liquidation on March 8, which triggered the market's association and panic.Although it has not disclosed the details, the cryptocurrency market has previously caused the global fraud, which may be one of the reasons why the New York City City has started.
Like the logo bank, from the book, Silicon Valley Bank, which supports Silicon Valley New Technology Innovation Enterprises, does not have the case of non -debt. If it is not because of the customer's squeezingEssenceSilicon Valley Bank mainly serves the financing, listing and merger business of Silicon Valley high -tech enterprises, and also accepts a large amount of deposits of these emerging enterprises.Due to the large reduction in the business volume of mergers and acquisitions during the epidemic, the deposit that could not be lended purchased to purchase US Treasury bonds.The interest rate hike in the US Federal Reserve has reduced the price of government bonds, and some depositors are worried that bank capital will not debt, which will cause panic and crowding.
Although the causes of the two banks have different reasons and the details have not been fully announced, the general views of the US financial industry point to the Federal Reserve.In order to suppress the continuous inflation, the Fed invaded Ukraine in Russia in February last year, pushing up the world's energy and food prices, disrupted and even blocked the supply chain, which led to severe global inflation.Reverse the quantitative easing policy, tighten silver root, hoping to curb the inflation momentum.After eight rounds of interest rate hikes, the federal interest rate has risen from 0.5%in March 2022 to 4.75%in February this year.Federal Reserve Chairman Powell warned at Congress hearing on March 7 that the future rate hike may exceed previous expectations.
Interest rate hikes and silver roots have greatly weakened the liquidity of the financial market, increasing the cost of buying and selling financial products, and thus affecting the prices of various types of financial assets.In other words, the interests of the financial industry have harmed the interests of inflation.This reflects the uneasy facts -as a financial industry serving the real economy, it has alienated it into a condition that has its own special interests, and even the interests of this special interest and the real economy.In this sense, the essential cause of the financial crisis in 2008 did not fundamentally change.The U.S. financial industry uses the bank's closure crisis and takes the opportunity to pressure the Fed to try to terminate the interest rate hike operation in order to restore the short -selling capital game.
Another manifestation of alienation in the financial world is also the corrosion of traditional work ethics.Now that mobile Internet is popular and luck is good, online financial transactions can obtain huge profits between fingers.This is undoubtedly a great temptation for young people who work diligently and work hard.At present, how many people behind the younger generation are lying on the phenomenon of lying flat.It is not difficult to imagine that if more and more young people choose not to invest in the workplace, they will be changed from online transactions and obtain freedom of life, and the consequences will inevitably exceed the economic field.
Singapore has worked hard to develop into an international financial hub, and the above risks and challenges are naturally unavoidable.The Singapore Financial Authority immediately issued a statement after the closure of the Silicon Valley Bank, stabilizing market confidence, and emphasizing that the local banking system is not significantly risky to the US -US banks.The government may also prevent social values be overturned by the financial system of Singapore's financial systems.
