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Silicon Valley Bank failed in rapid, stunning fashion Friday. This week, the tech and banking sector are growing skittish about the next shoe to drop.
What took place Friday was an old-fashioned bank run: Customers yanked $42 billion from Silicon Valley Bank on Thursday, leaving the bank with $1 billion in negative cash balance. In other words, the bank owed more to customers than it had on hand. SVB and federal regulators scrambled but couldn’t raise enough capital to make up the difference, and the bank was declared insolvent Friday.
生词短语:
skittish
变幻莫测的;易变的
bank run
银行挤兑
yank
猛拉; 猛拽
cash balance
现金余额
scramble
抢占; 争夺;艰难地(或仓促地)完成
insolvent
无力偿付债务的; 破产的