Pacific Western Bank became the latest bank seeking to reassure investors of its positioning, saying late Friday that it "continues to have solid...
Pacific Western Bank became the latest bank seeking to reassure investors of its positioning, saying late Friday that it “continues to have solid liquidity.”
After... Pacific Western Bank became the latest bank seeking to reassure investors of its positioning, saying late Friday that it “continues to have solid liquidity.” After it was announced that Silicon Valley Bank and Signature Bank were closing, “the bank experienced elevated net deposit outflows,” Pacific West said. These were mainly in the company’s venture-banking line. But since Monday, “net outflows have fallen sharply, with deposit balance fluctuations substantially stabilizing,” the company added.
Taylor added that he was “encouraged by the distinct message that government officials, regulatory agencies, and industry leaders have been communicating, expressing a clear commitment to the banking system and its depositors.”
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