Podcast: SVB and bank failures in the US – Folha – 03/14/2023 – Podcasts

The market dealt this Monday (13) with the consequences of the bankruptcy of SVB (Silicon Valley Bank). Last week, in a crisis that lasted less than 48 hours, the 16th largest bank in the United States was taken over by regulators.

The institution founded 40 years ago had US$ 209 billion in assets and almost half of American startups as customers. The bankruptcy is considered the second largest collapse of a US bank in history and sparked fears of a cascading failure in the US and other countries – on Sunday (12), the smaller Signature Bank was also closed by regulators .

Over the weekend, the US government announced measures to contain the crisis. In a statement, President Joe Biden claimed that the country’s banking system is safe and promised to toughen the sector’s rules. Impacts of the case on interest rate policies in the US and Brazil are still expected.

This Tuesday’s Café da Manhã explains how a bank can go bankrupt so quickly, discusses what the SVB bankruptcy means for the American financial system and analyzes what impacts it can have, including in Brazil. The podcast talks with Vinícius Torres Freire, columnist for Folha.

The audio program is published on Spotify, streaming service partner of Sheet in the initiative and which specializes in music, podcast and video. You can listen to the episode by clicking above. To access the application, just register for free.

Breakfast is published from Monday to Friday, always at the beginning of the day. The episode is presented by journalists Gabriela Mayer and Gustavo Simon, with production by Laila Mouallem and Carolina Moraes and sound editing by Thomé Granemann and Raphael Concli.