Silicon Valley Bank collapses after failing to raise capital

  1. Home /
    2. News & Feeds /
  2. Silicon Valley Bank collapses after failing to raise capital
Silicon Valley Bank collapses after failing to raise capital
News & Feeds

Silicon Valley Bank collapses after failing to raise capital

Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history. California regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance Corporation. The FDIC is acting as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and creditors. The FDIC, an independent government agency that insures bank deposits and oversees financial institutions, said all insured depositors will have ful

Read More….

https://edition.cnn.com/2023/03/10/investing/svb-bank/index.html