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SVB is a division of First Citizens Bank that serves high-growth companies and investors in the innovation economy. It offers flexible lending, digital platform, payment processing and other solutions for startups, venture funds and corporate clients.
- Why It Failed
- What Happens Next?
- Any Sign of A Repeat of 2008?
Silicon Valley Bank was hit hard by the downturn in technology stocks over the past year as well as the U.S. Federal Reserve's aggressive plan to increase interest rates to combat inflation. The bank bought billions of dollars worth of bonds over the past couple of years, using customers' deposits as a typical bank would normally operate. These inv...
There are two large problems remaining with Silicon Valley Bank. Both could lead to further issues if not resolved quickly. The most immediate problem is Silicon Valley Bank's large deposits. The U.S. government insures deposits to $250,000, but anything above that level is considered uninsured. The Federal Deposit Insurance Corporation said insure...
At the moment, no, and experts don't expect there to be any issues spreading to the broader banking sector. Silicon Valley Bank was large but had a unique existence by servicing nearly exclusively the technology world and VC-backed companies. It did a lot of work with the particular part of the economy that was hit hard in the past year. Other bank...
Mar 13, 2023 · The U.S. government seized Silicon Valley Bank, a major lender to the tech sector, after a run on deposits. The bank's Canadian subsidiary was taken over by OSFI, while the U.K. unit was sold to HSBC. Learn how the failure affects Canada's economy and investors.
Mar 14, 2023 · The US government raced to prevent further fallout in the bank sector over the weekend after the collapse of Silicon Valley Bank and Signature Bank. The Biden administration said it will...
Mar 15, 2023 · Regulators trying to stem panic among customers shut down Silicon Valley Bank and Signature Bank within days.
Mar 13, 2023 · How a bank run and a regulatory shutdown brought down the most prestigious bank of the tech industry. Learn who was affected, what happened to their money, and what it means for the innovation economy.
Mar 14, 2023 · The massive amount of customer withdrawals that led to the collapse of Silicon Valley Bank had all the hallmarks of an old-fashioned bank run, but with a new twist befitting the primary...
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