RE:RE:SVB and mortgage backed securities Read my first post.
According to the original source on the matter, the "hold to maturity" value on these MBS declined in value by $15.9 b as of q3. Just from this portfolio alone, the company already has wiped out its entire equity.
That is $4.4b worth of equity that is unrecoverable. They have $175.9 b worth of deposits. Unfortunately, some of these depositors won't receive their money.
It's disappointing for Acuityads shareholders as management should never had so much money tied to one bank. This is common sense and poor risk management by the Cfo and team.
In all likelihood, Acuityads will see at least one year worth of gains wiped out by such an avoidable mess they find themselves in.