What Does Silicon Valley Bank’s Collapse Mean for Canadians? Mar 24th

There are more investment options in Canada than you can shake a stick at! Stay on top of the best returns right here.
Latest News

Multigenerational Home Renovation Tax Credit: What is it and do you qualify? + MORE Sep 8th

Thinking about asking a senior-age parent to move in with you? If this involves renovating your home to create a secondary unit for them, you may qualify for a new federal tax credit: the Multigenerational Home Renovation Tax Credit (MHRTC). Multigenerational households—those composed of three .... More »

Hong Kong stocks have worst day in three months on worries about rates and real estate - CNN Oct 3rd

Hong Kong stocks have worst day in three months on worries about rates and real estate  CNNStock market today: Asian markets sink, with Hong Kong down 3% on heavy selling of property stocks  Yahoo News CanadaChinese Stocks in Hong Kong Slump, Leading Asia Equities Selloff &n.... More »
 earnings

Want to Supersize Your Business? Buy Another Aug 3rd

The journey from idea to IPO is a difficult one. In this five-part series, we look at how founders scaled their startups and reached new milestones. Robert Hyde realized he needed a new strategy. “We can create new products, but it takes a lot of energy and effort to build and launch a produ.... More »
 IPO

Reni Odetoyinbo on why you should pay yourself first and have multiple streams of income  Jun 6th

Social media content creator Reni Odetoyinbo started investing at age 18 and bought her first house at 23. Everyone wanted to know how she did it, so she started documenting her journey to home ownership on her YouTube Channel in 2020.   Odetoyinbo quit her full-time marketing job at a .... More »
investment

Buying ETFs in Canada Tool: The MoneySense ETF Screener + MORE Oct 6th

If you’re researching ETFs to buy, you’ve come to the right place. Below you will see the tables for different ETF categories, offering ETF options from some of the best ETF providers in Canada. We’ve included some helpful ETF asset class, geography, provider, tickers, as well as one-year retu.... More »
The collapse of Silicon Valley Bank, or SVB, earlier this month has been sending shockwaves throughout North America’s tech and banking industries. The lender, based in Santa Clara, Calif., had clients that included start-ups like HR and payment firm Rippling and major tech companies like Roku. It folded in March due to a bank run, making it the second-largest failure of a financial institution in U.S. history. 

California regulators closed SVB on March 10 after the bank’s stock plummeted by 60 per cent in a single day, handing control over to the Federal Deposit Insurance Corporation (FDIC). The FDIC said all insured depositors will have full access to their funds, but the bank’s failure is causing anxiety north of the border with companies concerned that something similar could happen in Canada.

Here’s what you need to know about SVB’s collapse and what it means for Canada’s tech and banking sectors.   

What caused SVB’s collapse?

The bank’s shutdown was triggered by a combination of rising interest rates, panicked clients and, reportedly, poor oversight and risky behaviour by the lender’s executive team…

Continue Reading On canadianbusiness.com »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!