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The Back Office - Weekly Update (3/12/23)

March 12, 2023

Welcome! The obvious focus for the coming weeks will be the failure of Silicon Valley Bank. While the broader implications to the market and business operating environment are still unknown, it is critical for finance professionals to urgently examine both direct and indirect business exposure to SVB.

The failure of SVB should serve as a reminder to the importance of counterparty risk management that some may have forgotten since the Global Financial Crisis in 2008. See the new Legal section below for great writeups from Cooley and Sidley on potential ramifications from the SVB failure, and potential next steps.

Thanks for reading,

-B.O.G