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SYDNEY, March 28 (Reuters) - Silicon Valley Bank collapsed after it took a big bet on interest rates and got it wrong, Westpac Chief Executive Peter King said on Tuesday.
"They took a pretty big punt on interest rates and they got it wrong," he said at the Australian Financial Review Banking Summit in Sydney. (Reporting by Lewis Jackson; Editing by Leslie Adler)
>>> Read more: Silicon Valley Bank was a big interest rate bet gone bad -Westpac CEO
"They took a pretty big punt on interest rates and they got it wrong," he said at the Australian Financial Review Banking Summit in Sydney. (Reporting by Lewis Jackson; Editing by Leslie Adler)
>>> Read more: Silicon Valley Bank was a big interest rate bet gone bad -Westpac CEO
