Asia markets fall as U.S. regulators seek to stem risk from Silicon Valley Bank.
Storm clouds are seen over the city skyline on October 01, 2021 in Sydney, Australia.Asia-Pacific markets traded lower on Monday, as U.S. regulators
Veteran bank analyst Dick Bove said American banks have lost credibility with average investors due to what he described as "accounting tricks," he told CNBC's "Squawk Box Asia." "They have $110 billion of investments in U.S. government-backed securities, the treasuries, the mortgage-backed securities," he said. "It isn't the loans that created the problem, it is the U.S.-backed securities that created the problem."Regulatory backstop for SVB failure aimed at protecting the economy, officials say
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Silicon Valley Bank seized by FDIC, marking largest shutdown of a US bank since 2008Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis.
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Silicon Valley Bank seized by FDIC, marking largest shutdown of a US bank since 2008Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis.
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