![]() ![]() SVB had more deposits than it knew what to do with but nowhere to deploy them. While this deposit surge was happening, lending activity was weak because of all of the uncertainty in the economy related to the pandemic. Between the first quarter of 2020 and the end of 2022, total deposits at SVB had surged from roughly $61 billion to close to $175 billion, and deposits had been as high as nearly $191 billion earlier in 2022. This was especially true at SVB because investors were looking for yield, so they turned to sectors such as VC and private equity. The fact that the Federal Reserve pumped trillions of dollars of liquidity into the economy through quantitative easing while interest rates were already at zero only made deposits explode even more across the banking system. SVB catered heavily to the start-up, tech, and venture capital (VC) industry, so in 2020, when venture capitalists were deploying lots of capital and start-ups were raising money at huge valuations and going public in droves, deposits surged at SVB. SVB's failure was different than what occurred during the Great Recession in that it wasn't a credit story but a deposit, bond, and liquidity story. These banks have ample liquidity, as I'll explain below. While it's certainly a scary time and simply shocking to see such a large bank that had performed incredibly well for decades fail so quickly, I consider SVB to be more of an outlier and that the broader banking system is in much better shape, particularly among the "too big to fail" banks like JPMorgan Chase ( JPM 2.68%) and Bank of America ( BAC 3.03%). ![]() If you cannot find a system to suit your exact needs, please contact us as we often build unique systems for our customers.After the failure of SVB Financial ( SIVB -60.41%), the parent company of Silicon Valley Bank, the entire banking industry sold off last week on fears over broader contagion and whether other banks could face similar issues. The systems are designed for easy installation, and in nearly all cases can be fitted by your general maintenance staff or contractors and even members of staff in most applications.Ī selection of Wireless Panic Buttons can be chosen including: The operating distance between the Panic Buttons and Control Panel will vary from 300 - 3000 ft depending on the chosen system, please contact us for advice if you are not sure. The duration of these Sirens will vary between systems ranging from a few seconds up to continuous until a member of staff resets the system depending on your requirements. ![]() Many customers have no need for the Alarm to call key-holders by Phone or Text Message as they would only ever need the Panic Alarm when other members of Staff are present inside the same or nearby building. Ultra Secure Direct have a selection of Wireless Panic Alarms that will activate a Siren, Buzzer or Flashing LED (or combination of all) in the event of being triggered in the event of a Security or Medical Emergency. Wireless Panic (SOS) Alarms with Sirens & Buzzers. If Deliveries are delayed with the Couriers due to circumstances beyond their control such as severe weather conditions or traffic accidents, we are afraid we cannot be held responsible, although we would always work with our customers and couriers to provide the best possible solutions. however in the unlikely event you want to return the goods we have a returns office located in Houston (full details below). Ultra Secure Direct are based in the UK, and ship our products directly to our customers in the U.S. Lithium Batteries (where required) will be supplied on all orders over $150, orders under $150 Will NOT include Lithium Batteries ( due to new shipping rules on small parcels). Sales Tax being charged by the Courier or U.S. The products are shipped from the UK with No UK Sales Tax included, the buyer will be liable to any U.S. Orders under $150 (where you can see the Add to Cart Button) are charged at $25. ![]() There is Free Delivery for orders over $150 on products that have a Add to Cart Button, for heavier products you will find a Add to Quote Buttonwhich allows us to give you an accurate shipping quotation ( see more information). Most orders are shipped by UPS or DHL directly from the UK. Most standard Orders are shipped within 1 – 2 working Days, Bespoke Orders & Special Projects would normally be shipped within 5 – 10 working Days. ![]()
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