Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Silicon Valley Bank > News item |
S&P turns SVB outlook to stable
S&P said it changed its outlook for SVB Financial Group and Silicon Valley Bank to stable from positive and affirmed their long-term issuer credit ratings of BBB and BBB+, respectively.
“Despite deposit volatility this year–which led to increased higher-cost funding–and expected pressure on net interest income, we view SVB's substantial contingent liquidity, healthy regulatory capital levels, and solid earnings as mitigating factors. While deposits have declined so far in 2022, SVB has demonstrated the ability to tap contingent funding sources, albeit at a higher cost.
“As of Sept. 30, 2022, the bank has $42 billion in borrowing capacity, as well as $91 billion in off-balance-sheet client-managed funds, some of which could be converted to interest-bearing deposits over time. Furthermore, the bank has $85 billion in unpledged securities that could serve as collateral for additional borrowing,” the agency said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.