Think Adviser – Mohamed El-Erian: Overly loose monetary policy led to the current financial accident, Allianz’s chief economic advisor said. He predicted that the Fed will now start to retreat from its inflation fight, which will be bad in the long term. Depositors shouldn’t worry, El-Erian noted.

• See also DataTrek – Silicon Valley Bank’s issues were hiding in plain sight, and its collapse damages the Fed’s reputation as a regulator
• See also Quartz: “Silicon Valley Bank’s collapse is hitting financial hubs around the globe. China, India, and the UK are among the countries racing to shield their economies from the failure of the US’s 16th largest bank.”
• See also “Fed announced Sunday additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP,) offering loans of up to one year in length to banks, savings associations, credit unions, other eligible depository institutions pledging US Treasuries. These assets will be valued at par. BTFP will be an additional source of liquidity against high-quality securities.”
• See also The Verge: The tech industry moved fast and broke its most prestigious bank. The fall of Silicon Valley Bank, explained
• See also – Updated size of bank failures since 2000
• See also – The Silicon Valley Bank Collapse Should be a Radicalizing Moment. It’s time to take down the venture capitalists who fuel the tech that makes our lives worse