We start today's podcast providing background to developments at Silicon Valley Bank and the subsequent fallout. We then move onto how banks turn liabilities into assets and how this process works but what the potential pitfalls can be in doing so. We then assess why Silicon Valley Bank collapsed and what that meant in the immediate aftermath of that announcement. We conclude assessing what the US regulators and US treasury decided to do to mitigate the immediate perceived risks and what that means in a broader context and why as ever this is not a resolution but trying to paper over the chasms in the US financial system.