Kansas City Endures SVB Aftermath So Far

Here' a peek at mainstream media catching up to our blog community . . . We were talking about this all weekend and today local news offered a bit of perspective on our leftovers.

Check today's tally that might get worse given that your/my bank account is mostly just a promise guaranteed by strangers . . .

The bank’s stock ended the day at $65.08, down 15.58% or about $12 a share. Not a good day, by any standards, but far better than the $21 a share (28.9%) it was down at one point.

UMB's tumble was a shock wave after fears about a liquidity crunch at Silicon Valley Bank caused a run on the California bank. The run forced a fire sale on about $21 billion in bonds Silicon Valley Bank held, causing an investment loss of about $1.8 billion.

Read more via www.TonysKansasCity.com link . . .

Here's the situation that caused UMB Bank's shares to go on a wild ride Monday - Kansas City Business Journal

It may not have been Black Monday, the day in 1987 when markets worldwide sank, but Monday, March 13, will go down as one of the wildest days for UMB Financial Inc. shareholders. The Kansas City-based bank company's stock lost more than a quarter of its value in a span of hours, only to slowly rebound through the rest of the day.

Experts weigh in on what collapse of Silicon Valley Bank means for Kansas Citians

KANSAS CITY, Mo. - Silicon Valley Bank was best known for its work with startups and venture capitalists. So, the average person might not feel the direct pain of its collapse - but they may feel the ripples. There's still a lot of questions around the collapse of SVB.

Further reading . . .

How the Fed's rate hike campaign broke things

For months and months, everyone who follows markets has warned that the Federal Reserve's aggressive monetary tightening would, inevitably, break things. The big picture: Over the weekend, we learned what those things were: large regional U.S. banks, and the lengths that regulators would go to keep that breakage from spiraling into a nationwide bank run.

No Escape From Wild Stock Swings Amid SVB, Fed Outlook

(Bloomberg) -- Investors hoping for a reprieve from abrupt swings in technology stocks now are facing renewed crosscurrents from the collapse of Silicon Valley Bank.

Futures Mixed After SVB Plan; First Republic Crashes On Bank Fears

Dow Jones futures skidded, while tech futures climbed Monday morning, as global markets grappled with the ongoing crisis among U.S. banks. The FDIC and other financial regulators guaranteed all deposits of SVB Financial ( SIVB). Regulators on Sunday also took control of Signature Bank ( SBNY).

Live News: Global financial stocks lose $465 billion so far on SVB impact worries

Live News Updates: The declines came after US peers tumbled, with investors questioning whether a government rescue plan for the banking system will prevent more fallout from SVB's demise. Asian lenders have been seen as more insulated from direct risk.

Biden raps 2018 bank law as post-mortems begin on SVB failure - Roll Call

Posted March 13, 2023 at 5:47pm President Joe Biden on Monday said he would ask Congress and regulators to strengthen regulations on small banks such as Silicon Valley Bank, boosting scrutiny of a bipartisan 2018 law that eased the requirements for such banks.

The White House is avoiding one word when it comes to Silicon Valley Bank: bailout

After Silicon Valley Bank careened off a cliff last week, jittery venture capitalists and tech startup leaders pleaded with the Biden administration for help, but they made one point clear: "We are not asking for a bank bailout," more than 5,000 tech CEOs and founders begged. On the same day the U.S.

Bitcoin rallies over 18% in 24-hour span in wake of SVB crisis

The value of major cryptocurrencies rose Monday in the wake of U.S. government plans to protect SVB and Signature Bank depositors.

Developing . . .