Comment: Silicon Valley Bank burst pot to set off waves and control acquisitions as Br

Source: Ming Pao

Ming Pao Society Review

The Silicon Valley Bank (SVB) "burst pot". In just a few days, there were 3 banks closed down or the Fed will be supported.EssenceOne of the reasons for the failure of Silicon Valley Bank is that the Federal Reserve has stepped up interest rates to curb inflation, which led to a sharp decline in U.S. debt.Facing similar issues, whether the crisis will be upgraded or not to pay close attention; whether the situation will affect the Fed's interest point policy, it is also concerned.The profit control profit mainly comes from the Greater China market, including Hong Kong. This time the acquisition of Silicon Valley Bank in the British branch, but it means "national tasks" for the British government. Behind the pound symbol of the acquisition, it turned out that additional injection of 2 billion yuan in additional funds was 2 billion yuan.In the pound, no instant benefit must be risky first. Whether such a transaction is calculated is questionable.

deterioration of banks in the United States

Whether the crisis will expand to observe

Silicon Valley Bank customers are mainly technology, start -up and venture capital companies. At the end of last year, the total assets were about 209 billion US dollars, and the total deposit was about 175.7 billion U.S. dollars, which is the 16th largest bank in the United States.Silicon Valley Bank burst into a pot. There was no obvious sign before, and it came quickly and suddenly. After a huge loss of money was reported last week, the stock price began to diarrhea. Due to the insufficient debt, it was ordered by the regulatory authorities on Friday.U.S.'s largest banks closed down.

Silicon Valley Bank has a close relationship with the reversal of US monetary policy in the past two years.After the financial tsunami, the Federal Reserve has quantified the loose "printing money" and the market. The Silicon Valley startups benefited from the hypalomal environment, and the lending was not much difficult. By 2020, the outbreak of the immortal bureau was even more vigorously "pumping water" to the market.In 2021, Silicon Valley startups received $ 330 billion in financing, and many of them deposited banks.In the middle of 2021, the U.S. epidemic reopening, and the Federal Reserve's initial low estimation of the inflation pressure came. In March last year, the Silicon Valley started to "tighten" and continuously withdraw money from the hukou to cope with various expenses;On the other side, Silicon Valley Bank had previously invested a large number of customers to invest in the US government's long debt, thinking that this was a steady practice, but the interest rate rose sharply, and the value of the bank's assets was sharply degraded.After the fundraising pressure, it was even more anxious to withdraw money from the hukou, the bank was unbearable, and finally closed the market.

In 2008, the financial tsunami, the fuse was a large investment bank Lehman closed.Afterwards, the US regulatory official put the focus on a "big enough" bank. For small and medium -sized banks, the follow -up was not tight. It was not until Silicon Valley Bank burst into pot.Silvergate Bank, which is facing the cryptocurrency industry, closed at the beginning of the week. Silicon Valley Bank exploded and cracked down on market confidence. Many small and medium -sized banks were compressed: SIGNATURE BANK, as the main bank of the virtual currency industry, has an asset size of more than 100 billion US dollars.The one billion US dollars were squeezed and unable to cope with it. As a result, after the Silicon Valley Bank, the Silicon Valley Bank was officially taken over and became the second largest bank in the financial tsunami.It requires that the stock price still plummeted by 60 %.

Silicon Valley Bank's accident is that the core of the problem is that insufficient liquidity cannot cope with squeezing. The strategy of officially responding to the crisis in the United States is to take over the bank while ensuring that the deposit deposit can be retrieved to avoid crushing the bank.Although the approach has a certain effect on stabilizing people's hearts, it is too early to say that the crisis is lifted.In the final analysis, how many small and medium -sized banks that have similar operations with Silicon Valley Bank are still a mystery.In response to the closure of three banks in the United States within a week, the rating agency Moody's Moody's outlook from the U.S. banking system last night changed from stability to negative to "reflect the rapid deterioration of the operating environment";Shooting, but more banks may go down.Even if a few "big enough" banks continue to stand, if more and more small and medium -sized banks burst, the American people's confidence in the banking system will inevitably shake it.

London Care Creative Enterprise

Hui Control acquisition of "serving the country"

Silicon Valley Bank has many businesses outside the United States. After the explosion of the pot, its British subsidiary also faces bankruptcy.The Bank of England and the British Ministry of Finance were negotiated and issued a notice on Monday, announcing the acquisition of British Silicon Valley Bank at a symbolic price of 1 pound.The president of Hui Control claims that the acquisition will help strengthen the ability of the bank's service start -ups such as rapidly growing enterprises, but it has not explained more information. At that timeProve that the speculation is correct.After half a day, foreign media disclosed that Hui Control and investors held a conference call, saying that they would bet on Silicon Valley Bank in the UK to maintain their business operations as usual. The amount is estimated to cost at least 2 billion pounds (HK $ 19 billion).It is true that compared to the market value of more than 100 billion Hong Kong dollars, 19 billion yuan is nothing, but the stock price of Hui Control has fallen significantly yesterday, but it can explain the investor's view.

British Silicon Valley Bank has business exchanges with many local innovation companies. Once closed, it will crack down on the local science and technology industry, and may increase the liquidity risk of small British banks.The British Fortune Hou Weijun said clearly that the sale of the British Silicon Valley Bank transaction is to realize the British government's commitment to "take care of the local science and technology industry". Foreign media also disclosed that other consortia are higher than that of foreign exchange.Is a more stable buyer.Hui Control is advertised as rooted in Hong Kong and Asia, but in the end, it is a British -funded bank. This time, the acquisition of the Bank of Silicon Valley in the UK has emphasized "strategic significance".There is a significant synergy effect with Silicon Valley Bank. The acquisition operation is plainly serving the British national interests.This is a political reality that cannot be ignored.

The United States has a closure of banks in the United States. Investors speculate that the Fed will stop raising interest rates. It will not be ruled out that the interest port will be one -quarter and then the top will be seen, and the interest rate will be reduced later.Although inflation in the United States has slowed down in the past six months, it is still relatively high.The Federal Reserve is called to stop rate hikes in the short term.The Federal Reserve must not only curb inflation, but also support economic growth and ensure the stability of the banking system. It is just that it is easy to lose this. In the future, whether it will frequently sway between these two goals and the two ends are not as shore.Essence