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What’s in a Name? Classifying Securities at Silicon Valley Bank
Lynch, Luann; Hopkins, Justin J.; Quintero Corral, AlejandroCase DARDEN-C-2470-EAccounting and ControlOn March 17, 2023, Silicon Valley Bank Financial Group (SVBFG) declared bankruptcy. It had reported net income in 2022 of $1.6 billion, and KPMG had just signed the audit report for SVBFG on February 24, giving it a “clean bill of health.” Yet, on March 8, the company announced that it would record a $1.8 billion loss in the first quarter of 2023, resulting from the sale of “substantially all of its available for sale securities portfolio,” and t...Starting at €8.20
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What’s in a Name? Classifying Securities at Silicon Valley Bank
Lynch, Luann J.; Hopkins, Justin J.; Quintero Corral, AlejandroCase DARDEN-C-2470Accounting and ControlOn March 17, 2023, Silicon Valley Bank Financial Group (SVBFG) declared bankruptcy. It had reported net income in 2022 of $1.6 billion, and KPMG had just signed the audit report for SVBFG on February 24, giving it a “clean bill of health.” Yet, on March 8, the company announced that it would record a $1.8 billion loss in the first quarter of 2023, resulting from the sale of “substantially all of its available for sale securities portfolio,” and t...Starting at €8.20