FT's hot take is way fuckin' funnier ...see, most consumers are sensitive enough to the difference between "free checking and 0% interest" and "free checking and 0% interest" that when their bank goes from 0% to 0%, they move somewhere else with 0%. On the other hand, businesses can't be bothered. LOL What I really love is FT is implying that SVB ate shit because they didn't make enough loans. You know what large-cap loan rates are right now? My landlord is about to tuck into EIGHT POINT OH FIVE PERCENT. Fuckin' 96 months. You think anyone else is lending much at fuckin' closer-to-ten-than-to-five?This does not mean that SVB was facing a liquidity crisis in which it would not meet withdrawals (although, again, any bank that screws up badly enough in any way can face a sudden run). The main problem is profitability. Businesses, unlike retail depositors, are highly price sensitive about their deposits. When rates rise, businesses expect their deposits to yield more, and will move their money if this doesn’t happen. Most retail depositors can’t be bothered. And SVB’s depositors are overwhelmingly businesses.