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Political Discussion
Reply to "SVB Bank Run: Fed Calling Emergency Meeting "
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[quote=Anonymous][quote=Anonymous]Anyone notice that SVB *did* seem to have meaningful credit losses? I’m not sure why, but CRE sounds likely.[/quote] From year end financials, their loan book was unusual. $66 billion in total loans. $1 billion in what looks like vineyard loans. About $10 billion in residential mortgages; about $14 billion in commercial real estate. $17 billion in loans to companies. The surprise item is loans for purchasing or carrying securities (which can simply be loans for any purposes that are heavily collateralized with securities): $34 billion. Very unusual to over half your loan book in this type of loan but likely part of their business model. Collect deposits from tech entrepreneurs then lend them money via margin loans on their main asset, stock in their companies.[/quote]
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