Unfortunately the worst-case scenario has materialised and the majority of High Notes 5 investors will not be receiving anything back.
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The collapse of Silicon Valley Bank rocks banking sector: Three takeaways
DeVere Group CEO Nigel Green warns Silicon Valley Bank’s collapse could have led to a wider financial crisis.
US regulators have granted depositors access to their funds and set up a new facility to provide emergency funds, while the Federal Reserve has eased borrowing from the central bank.
Green highlights the need for regulation, reversing deregulation to prevent further collapses, and predicts that the Fed will put its rate hike program on hold due to the current banking sector’s stress.
