The relief shared by Australian customers of failed Californian lender Silicon Valley Bank played out in real-time on Monday as a rescue by way of Washington’s intervention arrived half an hour before what was set to be a torrid ASX trading session.
More than a dozen ASX-listed companies disclosed their exposure to Silicon Valley Bank, many for the first time, with about $50 million of deposits collectively tied up in the collapsed financial institution.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
