Highlights:
● “If banks have a hedge against their bond portfolios, they should have access to the capital they need to withstand a temporary run on their deposits; but if not, then they risk going the way of SVB and Silvergate and Signature Bank, selling off their securities at a loss that prevents them from paying back nervous depositors.”
● “The key here is that there are signs that our banks are becoming less and less depositories of choice.”
● “For 15 years, the Fed has basically told financial institutions that zero-interest rates were the wave of the future, so go ahead and buy up bonds until you’re blue in the face with no need for a hedge against inflation and rising interest rates, and if anything does go wrong, we’ll just bail you out! Well, it looks like more and more depositors want nothing to do with that system.”
Timestamps:
[01:57] What Bush and Obama did in response to what happened in 2008
[04:36] Why SVB collapsed and the number one question that every bank and financial institution has to answer to avoid the same fate as SVB
[07:48] The 2nd question that’s coming out of this and why there are signs that our banks are becoming less and less depositories of choice
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