Larry Summers Suggests Short-Term Steps To Help Government Avoid Contagion — Says SVB Committed 'One Of The Most Elementary Errors...'
Larry Summers Suggests Short-Term Steps To Help Government Avoid Contagion — Says SVB Committed 'One Of The Most Elementary Errors...'
"In the short run, I think they need to make this facility that will provide loans to banks to enable them to pay off depositors who want to get access to their funds. They should make sure that facility is up and running and effective and actually usable," Summers said.Former Treasury Secretary Lawrence Summers reportedly said that Silicon Valley Bank committed one of the most elementary errors in banking — borrowing short-term funds to invest in long-tenor assets.
前財政部長 劳伦斯·萨默斯 據報導說 矽谷銀行 犯下銀行業最基本的錯誤之一 — 借入短期資金投資於長期資產。
What Happened: Summers pointed out that the government must take immediate steps to ensure depositors get their money back, in an interview with CNN.
發生了什麼事： 薩默斯指出，在接受 CNN 採訪時，政府必須立即採取措施以確保存戶拿回他們的錢。
See Also: Best Penny Stocks
另請參閱： 最好的竹篙股票
"In the short run, I think they need to make this facility that will provide loans to banks to enable them to pay off depositors who want to get access to their funds. They should make sure that facility is up and running and effective and actually usable," Summers said.
「從短期來看，我認為他們需要製造這種可以向銀行提供貸款的設施，以使他們能夠償還希望獲得其資金訪問權限的存款人。他們應該確保設施正常運行，有效且實際上可用，」薩默斯說。
Elementary Error: Summers said that for the longer run, there are important lessons to be learnt about supervision and regulation as the Silicon Valley Bank committed one of the most basic errors in banking.
基本錯誤： 薩默斯表示，從長遠來看，有關監管和監管的重要教訓，因為矽谷銀行犯下了銀行業最基本的錯誤之一。
"It has committed kind of one of the most elementary errors in banking of borrowing money in a very short term way and then investing it in a long term way. And then when interest rates went up, those assets lost their value. That put the institution in a problematic situation," Summers highlighted.
「它已經犯了一種在非常短期的方式借錢銀行業務最基本的錯誤之一，然後以長期的方式進行投資。然後，當利率上升時，這些資產失去了價值。這使該機構處於一個有問題的情況下，」薩默斯強調。
The former treasury secretary also said the government needs to inspect institutions that are clearly struggling.
前財政部長還表示，政府需要檢查明顯掙扎的機構。
"There may be others like Signature (that) need to be closed. But it will represent only a very small fraction of the country's banking system," Summers noted.
「可能還有其他類似簽名（即）需要關閉。但它只代表該國銀行體系的一小部分，」薩默斯指出。
The crisis commenced with the winding down of the Silicon Valley Bank last week following which Signature Bank was closed by New York regulators.
危機開始於清盤 矽谷銀行 上週之後哪個 簽名銀行 被紐約監管機構關閉。
Banking and financial stocks have been taking a hard beating despite assurances from President Joe Biden himself to do whatever it takes to address the threat to the banking system.
儘管總統的保證，但銀行和金融股一直在遭受嚴重毆打 乔·拜登 他自己做任何事情來解決對銀行系統的威脅。
Price Action: JPMorgan Chase & Co (NYSE:JPM) shares closed 1.8% lower, Bank of America Corp (NYSE:BAC) lost 5.81% while Morgan Stanley (NYSE:MS) shares ended 2.29% lower. Western Alliance Bancorporation (NYSE:WAL) shares lost 47.06% while PacWest Bancorp (NASDAQ:PACW) lost 21.05%.
價格行動： 摩根大通 (紐約證交所代碼:JPM) 股票收跌 1.8%, 美國銀行 紐約證交所代碼：BAC）同時損失了 5.81% 摩根士丹利 (紐約證交所代碼:MS) 股票下跌 2.29%。 西方聯盟銀行 紐約證券交易所代號:WAL) 股票虧損 47.06%，而 帕克威斯特 （納斯達克：帕克）損失了 21.05％。
Read Next: Tesla, Amazon, FRC, Western Alliance, Gitlab: Why These Five Stocks Are Drawing Investors' Attention Today?
閱讀下一頁： 特斯拉，亞馬遜，FRC，西方聯盟，Gitlab：為什麼這五隻股票今天引起投資者的注意？
譯文內容由第三人軟體翻譯。
