2nd Biggest Bank; Silicon Valley Bank Collapse

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California banking regulators close Silicon Valley Bank and appoint the Federal Deposit Insurance Corporation as receiver for later disposition of its assets.

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.

What caused the collapse of Silicon Valley Bank?

“That's because its depositors were withdrawing their money so fast that the bank was insolvent, and an intraday closure was unavoidable due to a classic bank run.” Silicon Valley Bank's decline stems partly from the Federal Reserve's aggressive interest rate hikes over the past year.1 hour ago

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

Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours

As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB's demise.

www.cnbc.com

Silicon Valley Bank Fails After Run on Deposits (Published 2023)

The Federal Deposit Insurance Corporation took control of the bank’s assets on Friday. The failure raised concerns that other banks could face problems, too.

www.nytimes.com

Silicon Valley Bank is largest failure since 2008 crisis, billions stranded

(2nd UPDATE) California banking regulators close Silicon Valley Bank and appoint the Federal Deposit Insurance Corporation as receiver for later disposition of its assets

www.rappler.com

Post automatically merged: Mar 12, 2023