Good Morning Friends! What’s your thoughts on what’s going on with Silicon Valley Bank? Do you think this will impact the entire banking industry? People around me are frantic saying to take all money out of banks.

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There will be an impact but what kind will take time. SVB was considered a regional bank and that’s where the concentration of the panic and instability seems to be. But, it would be naive to think that larger banks will not feel some kind of impact.

The issues associated with SVB are multifaceted. I’ve read articles about how they were leveraged, how loosening of Dodd-Frank legislation in 2018 allowed risky investments, about its investment in cryptocurrency. There’s so much out there.

I’m confident in the banking system but there will probably be some reactionary legislation at some point and investigations. Very interesting to keep up with.

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Definitely interesting!

I am waiting for KPMG to speak about the issue with regards to audit. So much is going on these days and everyone in the industry is so frantic about it.

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True! You will have to keep us posted!

It will if people don't calm TF down and stop doing a run on the banks.

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So how do banks maintain the status quo and prevent a crisis of confidence? Or even can they? It is possible for this to happen to any bank, even the relatively liquid institutions- sorta seems like banks need a way to flatten the curve 🤣

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