硅谷银行轰然倒塌，给了财务经理人什么警示？

日前，美国硅谷银行轰然倒塌。

这将成为2023年美国第一家倒闭的投保银行，这也是自2008年全球金融危机以来美国最大的银行倒闭事件。

美国联邦存款保险公司（FDIC）宣布，金融监管机构已经关闭了硅谷银行（Silicon Valley Bank），并接管了该银行的存款，理由是流动性不足和资不抵债。

一、硅谷银行倒闭的成因

对于硅谷银行倒闭，美国联邦存款保险公司给出的原因是流动性不足和资不抵债。

更具体一点，就是银行业所熟知的最大信誉风险：挤兑！

银行的核心业务就是吸收存款，给客户存款利息，接着留存一定的流动性资金后，将剩余资金拿去贷款等投资，赚取投资收益，银行赚取的利润就是投资收益和存款利息成本之间的利差。

客户存款后，也有部分客户会取款，只要银行留存的流动性资金充足，资金就可以周转过来。

试想一下，如果全部客户一起取款，银行又已经将大部分资金拿去放贷了，会发生什么情况？

这就会导致银行无法满足全部客户的取款需求，恶性循环开始了。客户变得恐慌，蜂拥而至要求取款，这就是“挤兑”。

硅谷银行倒闭的重要导火索就是美联储加息：

1、此前，硅谷科技企业资金充足，将大部分资金存入专业做科技金融的硅谷银行。

2、硅谷银行吸收了很多科技企业存款，将资金拿去投资低息国债。

3、美联储逐步加息，企业融资利息越来越高，外边融不到资，只能将存入硅谷银行的存款取出来用。

4、硅谷银行为了满足部分企业的取款需求，便将手中的国债变卖，可是此时美联储已经完成加息，硅谷银行所持有的低息国债已经不值钱了，只能亏本甩卖。

5、科技企业看到硅谷银行在亏本甩卖国债，猜测硅谷银行肯定是流动性不足了，便纷纷提出取款需求。

6、一两家企业来取款，硅谷银行倒也能应付，现在大家都来取款，臣妾做不到啊，便让客户再等等。

7、对于硅谷银行连存款都取不出来的消息不胫而走，引起大家的恐慌情绪，最终造成了“挤兑”。

一、给财务经理人的警示

1、流动性大于收益性

资金管理有著名的“三性”原则，也就是“流动性、收益性、安全性”。

流动性指的是随时可调用的资金能够满足经营需求；

收益性指的是闲置资金要通过理财投资获益；

安全性指的是资金投资的风险级别要在企业的承受范围之内。

在财总的财务管理中，一向要求流动性永远高于收益性，哪怕资金多闲置一些，也要保障账面资金随时满足兑付需求，兑付需求指的是发放工资、支付供应商款项、日常开支等。

2、随时防范供应商挤兑

供应商付款政策要明确，争取按账期付款，如果有特殊情况无法按账期付款的，要跟供应商做好充分沟通，获得供应商的理解，才能适当延期付款。

如果延期付款没能获得供应商的理解，同时供应商向其他供应商传播“某某企业不行了”诸如此类消息，那么其他供应商也会闻风而动要求提前结款，甚至终止合作，不继续向某某公司提供货物。

一旦供应商集体要货款且停止供货，公司就会陷入“挤兑”危机，整个业务也将停摆。

财务经理人要走出去，多多与供应商接触，抓住机会向供应商宣导公司运作良好的讯息，增加供应商合作的信心。

翻译：

Recently, Silicon Valley Bank collapsed.

It would be the first insured bank to fail in the United States in 2023 and the largest bank failure in the country since the 2008 global financial crisis.

The Federal Deposit Insurance Corporation (FDIC) announced that financial regulators have shut down Silicon Valley Bank and taken over the bank’s deposits, citing illiquidity and insolvency.

The causes of the failure of Silicon Valley banks

For the Silicon Valley bank failure, the Federal Deposit Insurance Corporation gave the reasons for illiquidity and insolvency.

More specifically, the biggest reputational risk known to banking: a run!

The core business of banks is to absorb deposits, pay interest on deposits to customers, then retain a certain amount of liquid funds, and use the remaining funds for investment such as loans to earn investment income. The profit earned by banks is the spread between investment income and deposit interest cost.

After the customer deposits, some customers will withdraw money, as long as the bank retains sufficient liquidity funds, funds can be turned over.

Imagine what would happen if all the customers withdrew all at once and the bank had already lent out most of the money?

This leads to banks being unable to meet all their customers’ demand for withdrawals, and a vicious cycle begins. Customers become panicked and rush to withdraw their money, a “run”.

An important trigger for the collapse of Silicon Valley banks is the Federal Reserve’s interest rate hike:

1. Previously, Silicon Valley technology companies had sufficient funds and deposited most of their funds into Silicon Valley banks, which specialized in technology finance.

2. Silicon Valley banks took a lot of deposits from tech companies and invested the money in low-interest government bonds.

3, the Federal Reserve gradually raises interest rates, corporate financing interest is getting higher and higher, the outside financing can not get money, can only be deposited in the Silicon Valley bank deposits to take out.

4. In order to meet the withdrawal needs of some enterprises, Silicon Valley Bank sold the government bonds in its hands, but at this time, the Federal Reserve has completed the interest rate hike, and the low-interest government bonds held by Silicon Valley Bank are no longer worth anything and can only be sold at a loss.

5, technology companies see Silicon Valley Bank at a loss to sell Treasury bonds, guess that Silicon Valley Bank must be insufficient liquidity, they have to demand withdrawals.

6, one or two companies to withdraw money, Silicon Valley bank can cope, now everyone to withdraw money, concubine can not do ah, then let the customer wait.

7, for the Silicon Valley bank even deposit can not take out the news spread like wildfire, causing everyone to panic, and eventually caused a “run”.

A warning to financial managers

Liquidity is greater than profitability

Fund management has the famous “three characteristics” principle, that is, “liquidity, profitability, security”.

Liquidity refers to the funds that can be called at any time to meet business needs;

Profitability refers to the idle funds to benefit through financial investment;

Security refers to the risk level of capital investment to be within the scope of the enterprise.

In the financial management of the General Manager of Finance, liquidity is always higher than profitability, even if the funds are idle, it is necessary to ensure that the book funds can meet the redemption demand at any time, which refers to the payment of wages, payment of suppliers, daily expenses, etc.

Prevent supplier runs at any time

Supplier payment policy should be clear, and strive to pay according to the account period. If there are special circumstances that cannot be paid according to the account period, it is necessary to fully communicate with the supplier and obtain the understanding of the supplier in order to properly postpone the payment.

If the delayed payment fails to gain the understanding of the supplier, and at the same time the supplier spreads to other suppliers such news as “so-and-so enterprise is failing”, then other suppliers will also be moved to ask for early payment, or even terminate cooperation, and do not continue to provide goods to such and so company.

Once the suppliers collectively ask for money and stop supplying, the company will fall into a “run” crisis, and the entire business will be shut down.

Financial managers should go out and get in touch with suppliers, seize the opportunity to publicize the good operation of the company to suppliers, and increase the confidence of suppliers to cooperate.

本文由CXO UNION-CXO联盟（cxounion.cn）转载而成，来源于CFO养成笔记；编辑/翻译：CXO UNIONCXO联盟小宁檬。

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