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6min chapter
The collapse of Silicon Valley Bank and the Polycrisis with Frank VanGansbeke
The Quant / Financial Engineering Podcast
Was the Fed Hikes a Total Surprise for SVB?
SVB had a $91 billion unhedged interest rate position. How is it possible that this magnitude A was being able to run by a bank 16th largest in the US? Why were they taken so of guard by, you know, the Fed and their interest rate hike? This is the last thing you want in an environment where interest rates increase, right? So this is something of a question. The reason why this was allowed to happen is that they had undertaken in 2019 a very successful, very successive effort, again, to back off from regulation.
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