Financial institutions news from around the web: March 20 – 24, 2023

Cloud skills gap raises cyber concerns for banks 

As financial sector companies push forward with modernization, difficulty sourcing talent looms as a potential security risk. 

Silicon Valley Bank’s collapse is an ‘absolute meltdown’ of unparalleled scale for many in tech 

What was previously a point of pride on Silicon Valley Bank’s website now reads like a warning sign: nearly half of U.S. venture-backed technology and life sciences companies bank with the financial institution. 

Midsize banks plead for unlimited FDIC backstop for two years 

A coalition of midsize U.S. banks is calling on the government to insure all deposits for the next two years, in the wake of Silicon Valley Bank's emergency rescue that insured all of the firm's deposits regardless of size. 

Ohio teachers’ retirement fund takes massive hit in Silicon Valley Bank collapse 

Retirement funds for public workers in Ohio lost millions after the Silicon Valley Bank collapsed last week, sending the tech and bank industries into a spiral.