Sesimpel Ini Mengingat Runtuhnya BanSVB

Dahulunya, 7 Maret 2023 lalu, Bank SVB menunjukkan rasa bangga melalui unggahannya di Twitter atas pencapaiannya masuk daftar “America’s Best Banks”.

Sayangnya, 4 hari setelahnya tepatnya 10 Maret, SVB collapse, bahkan neraca keuangannya merosot hingga minus $1M (Rp±14,7 Triliun).

Dengan waktu yang secepat itu, sebenarnya … apa yang terjadi?

Track Record yang Nyaris Sempurna

  • 40 tahun beroperasi
  • Global Commercial Banking
  • Bank terbesar ke-16 di Amerika
  • Bank terbesar pendanaan startup AS.
  • Bagian dari SVB Financial Group
  • Total asset $209 Miliar (Rp±3.000 Triliun)

Ternyata tidak hanya itu,

Berikut Pendapatan Bank SVB

TahunNet Interest IncomeNet Interest Income Growth
Pertama, 20181,894
Kedua, 20192,09710,70%
Ketiga, 20202,1562,85%
Keempat, 20213,17947,43%
Terakhir, 20224,48541,08%

Berikut Source: Wall Street Journal (https://www.wsj.com/market-data/quotes/SIVBQ/financials/annual/income-statement

Bahkan sejak tahun 2018, SVB berhasil memperoleh pendapatan bunga bersih yang terus meningkat setiap tahunnya dengan terakhir tahun 2022 lalu berhasil menyentuh hampir US$4,5 Miliar (Rp±66 Triliun).

Pinjaman SVB

Berikut Source: the deep dive (https://thedeepdive.ca/what-happened-at-silicon-valley-bank/

Dan bila dilihat, 55% pinjaman SVB adalah venture capital untuk startup teknologi yang secara pertumbuhannya selama beberapa tahun ke belakang membuat The Valley kebanjiran uang.

Sesungguhnya Kok bisa collapse?

Berikut The Timeline

Berikut Source: Bloomberg, USA Today  

Rupanya SVB investasikan >50% dana dalam bentuk obligasi jangka panjang dimana suku bunga mendekati nol.

Sesungguhnya apakah itu Ide yang bagus? Jelas. Tapi celakanya, saat suku bunga naik maka harga obligasi akan turun ditambah tech winter yang buat perusahaan banyak tarik cash untuk survive.

8 Maret

  • Kemudian SVB Financial Group menjual saham dan obligasinya senilai US$21 Miliar (Rp±308  Triliun) dengan kerugian US$1,8 Miliar (Rp±26 Triliun)

9 Maret

Setelahnya, Klien panik & bank run (penarikan uang secara massal) senilai US$42 Miliar (Rp±618 Triliun) dalam sehari.

  • Akibatnya Saham SVB turun >60%

10 Maret

  • Sampai-sampai SVB resmi ditutup oleh regulator keuangan California.
  • Jadi kehancuran bank terbesar sejak krisis keuangan 2008.

Alhasil Terjun payung, SVB kehilangan lebih dari US$160 Miliar (Rp±2.300 Triliun) dalam 24 jam. 

The Domino Effect dari Keruntuhan Bank SVB

CompaniesDeposits
Pertama dari Amerika
RobloxUS$150 Juta
RokuUS$487 Juta
BuzzfeedUS$56 Juta
Sunlight Financial Holding IncUS$64 Juta
Acuityads Holding IncUS$55 Juta
Cohu IncUS$12,3 Juta
Rocket Lab USA IncUS$38 Juta
Alkami Technology IncUS$3,3 Juta
Stitch FixUS$40 Juta
CircleUS$3,3 Miliar
BlockFiUS$227 Juta
Payoneer Global IncUS$20 Juta
Lendingclub CorpUS$21 Juta
Vir BiotechnologyUS$220 Juta
SunrunUS$80 Juta
Ginkgo Bioworks Holding IncUS$74Juta
Kedua dari Eropa
Trustpilot Group PlcUS$36 Juta
Zealand PharmaUS$23,4 Juta
Pharming Group NVUS$26 Juta
AlectaUS$111,94 Miliar
Ketiga dari Asia Pasifik
Nitro SoftwareUS$12,18 Juta

Source: Reuters (https://www.reuters.com/business/finance/global-firms-with-exposure-collapsed-svb-2023-03-13/)

Selain itu, Melalui kejatuhannya, sejumlah kerugian tercatat pada beberapa perusahaan yang tersebar hampir di seluruh dunia yang mendepositkan dananya pada SVB dengan loan to deposit ratio yang hanya sekitar 40%. 

Wall Street Melemah

Keruntuhan SVB sebagai kebangkrutan terburuk ke-2 sepanjang sejarah AS jelas juga memengaruhi indeks saham AS. Bahkan Indeks S&P 500 tercatat turun 6,6% pada hari Kamis (9/3) diikuti 4,2% keesokan harinya (10/3).

Seminggu setelahnya, Jumat (17/3) tercatat 3 indeks saham US, DJIA turun 1,19%, S&P 500 turun 1,10%, NASDAQ turun 0,74%

FDIC dan HSBC Selamatkan Situasi

Terakhir, HSBC resmi mengakuisisi SVB UK seharga Rp18 Ribuan dengan pengecualian terhadap asset dan kewajiban perusahaan.

Dan kabar baiknya lainnya, sekitar US$175 Miliar(±Rp2.574 Triliun) rekening nasabah diambil alih FDIC (LPS di AS) yang akan bantu dalam pelunasan. Meskipun begitu, dana maksimum hanya US$250 Ribu (±Rp3,7 Miliar), padahal mayoritas klien SVB adalah startup yang jelas punya simpanan lebih dari itu. 

Apa yang Bisa Dipelajari dari Keruntuhan Bank SVB

  • Alhasil inilah pelajaran yang begitu berharga terkait Pentingnya manajemen risiko likuiditas (menjaga Net Stable Funding Ratio (NSFR) dan Liquidity Coverage Ratio (LCR), minimal 100%). Ini penting sebagai antisipasi guncangan pasar dan gangguan likuiditas untuk memastikan lembaga keuangan punya perlindungan modal yang sesuai. 
  • Kemudian Pentingnya pengelolaan risiko suku bunga dengan hedge atau menyesuaikannya dengan aset dan liabilitas (Interest Rate Swap, Interest Rate Floor).
  • Terakhir, Pentingnya menjaga diversifikasi portofolio aset, misalnya dengan share aset di Surat Utang dan kredit, mempertahankan yield, dll. 

Penulis:

Kategori: Keuangan

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