Opinion: Beyond saving Silicon Valley Bank's depositors, here's what needs to happen next (via latimesopinion )
more than doubling its balance sheet. SVB leadership used these funds to buy long-term U.S. government-backed bonds that are free of credit risk .
The bank’s miscalculation of risks, based on over-optimism of future interest rates, was a central problem, creating a vulnerability that helped trigger the bank run. But Fed supervisors also apparently failed to see the interest rate risk inherent in SVB’s big bond buying spree or to do anything about it .
In 2023, it is the supervision of regular commercial banks that has broken down. The failure of a $200-billion bank should not bring down the financial system. But a breakdown in supervision is another matter. To be fully effective, this extension of deposit insurance has to be permanent, and all such insurance should be paid for through appropriate contributions from banks.
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