Headline on this from earlier is here:

A little more now:

SVB said that Goldman Sachs bought a bond portfolio on which it booked a $1.8 billion loss

Reuters adds:

  • the loss on the portfolio was the reason Silicon Valley Bank attempted a $2.25 billion stock sale last week
  • the capital raise was thwarted as depositors fled and investors fretted SVB would have needed even more capital
  • The portfolio SVB sold to Goldman Sachs on March 8 consisted mostly of U.S. Treasuries and had a book value of $23.97 billion, SVB said. The transaction was carried out "at negotiated prices" and netted the bank $21.45 billion in proceeds, SVB added
goldman sachs yellow