Ohio Teachers Pension System Lost $27 Million in Bank Crash

Ohio Capital Journal

The Ohio State Teachers Retirement System on Thursday said that while it might have lost $27.2 million when Silicon Valley Bank failed earlier this month, it’s made more than $30 million since it started investing in the bank 24 years ago.

The system released the figure after a week of questions about its losses in the bank.

The bank, also known as SVB, was a harbinger of problems with other banks of its size. After it successfully lobbied to ease its regulations in 2018, the bank grew rapidly and made a big bet on interest rates staying low by investing heavily in long-term bonds.

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