bernard
THEE Realist
US regulators rushed to seize the assets of top tech lender Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of such an institution since the height of the financial crisis more than a decade ago.
Silicon Valley Bank (SVB), the nation’s 16th largest bank, failed after depositors – mostly technology workers and venture capital-backed companies – hurried to withdraw their money this week as anxiety over the bank’s situation spread.
Silicon Valley Bank (SVB), the nation’s 16th largest bank, failed after depositors – mostly technology workers and venture capital-backed companies – hurried to withdraw their money this week as anxiety over the bank’s situation spread.
Silicon Valley Bank fails in largest bank collapse since 2008 crisis
US regulators seize SVB’s assets after a run on the bank, as global institutions monitor situation closely
www.theguardian.com
Silicon Valley Bank failed. FDIC covers some of the money, but only up to $250,000.
Banks don't fail frequently. Silicon Valley Bank was the first since 2020. Since the bank is FDIC-insured many customers will gain access to deposits
www.usatoday.com
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