1. 

On 6 April 2023 Gillian Tett wrote: "As Powell observed: "At a basic level,Silicon Valley Bank management failed badly [because] they grew the bank very quickly, they exposed the bank to significant liquidity risk and interest rate risk, didn't hedge that risk." In plain English, the core reason a panic erupted was that SVB's balance sheet was stuffed with long-term Treasury bonds whose value has plunged in the last year as the Fed has raised rates, creating losses" (Tett, 2023). Which of the following statements is most correct? The reason why Silicon Valley Bank (SIVB) made large losses prior to the bank run was that its assets: Select one: O a. And liabilities both had long durations. O b. And liabilities both had short durations. O C. Had a long duration while its liabilities had a short duration. O d. Had a short duration while its liabilities had a long duration.