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by gruez
1197 days ago
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>As far as I understand, the nominal value of assets still exceeds the obligations? AFAIK that number was based on the book value (ie. how much it cost for the bank to buy the bonds/MBS), not the current fair market value. Other sources say that SVB is in the hole when using current fair market value for their assets. >So big was this drawdown that on a marked-to-market basis, Silicon Valley Bank was technically insolvent at the end of September. Its $15.9 billion of HTM mark-to-market losses completely subsumed the $11.8 billion of tangible common equity that supported the bank’s balance sheet. https://www.netinterest.co/p/the-demise-of-silicon-valley-ba... |
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