Ohio public pension funds lose millions in Silicon Valley Bank failure

Xavier Roger


People stand outside of an entrance to Silicon Valley Bank in Santa Clara, Calif., Friday, March 10, 2023. The Federal Deposit Insurance Corporation seized the assets of the bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis.

Ohio’s public pension systems collectively lost tens of millions of dollars invested in Silicon Valley Bank of California and Signature Bank of New York, two of the largest banks to fail in U.S. history.

Ohio’s State Teachers Retirement System took the biggest hit. Last week, it had SVB shares worth $27.2 million, which represents 0.03% of the fund’s total portfolio. It did not own shares of Signature.

Last week, Ohio Public Employees Retirement System held shares in SVB worth $3.2 million and shares in Signature worth $2.2 million. That $5.4 million represents 0.0058% of OPERS’ $92.5 billion investment portfolio.

GraphicSilicon Valley Bank collapse explained in graphics


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