1. Look at the balance sheet for SVB bank for December 31, 2021 You can find it on page 95 of the annual financial report https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/f36fc4d7-9459-41d7- 9e3d-2c468971b386.pdf Think about the securities "held to maturity" (HTM) most of which were long-term Treasury bonds and notes. Notice the "fair value"-that is, the fair market value---in the line description. For December 31, 2021, if you used fair market value instead of the value they used, what would SVB's equity be? Holding everything else constant, what percentage decrease in the price of these securities would be sufficient to wipe out SVB's equity? If this were early 2022, do you think there would be a chance that prices of these securities would fall that far? 2. Now look at December 31, 2022. When you do a similar exercise and calculate what equity would be if you valued the securities at fair market value, what does that make equity? 3. What would SVB's leverage ratio be on December 31, 2022 with securities valued at fair market value? 4. If you were a bank regulator, what should you have done when you read this balance sheet? When did the balance sheet become public (go to the signatures page after page 180)? 5. If you were an uninsured depositor, what should you have done when you saw this report?