Regulators in the United States stepped in to bail out customers of collapsed Silicon Valley Bank, including at least eight ASX-listed companies and potentially hundreds of local tech start-ups that spent the weekend scrambling to find new banking partners.
But the collapse of SVB – and the failure of a third bank, New York-based Signature – has prompted investors to drastically reconsider how quickly central banks can raise interest rates without causing disruption in important areas of the economy.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
