What British companies are saying about their exposure to the Silicon Valley Bank collapse
1 year, 9 months ago

What British companies are saying about their exposure to the Silicon Valley Bank collapse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Dozens of companies listed on the London Stock Exchange updated shareholders on their exposure to the collapse of Silicon Valley Bank and its UK branch. – THG Formerly called The Hut Group, online retailer THG it “does not have any exposure to SVB”, with no cash in one of its accounts or loans from the bank. – Future Future – the publisher behind PC Gamer, Marie Claire and The Week among others – said it had £1 million in the bank, less than 3% of its total cash on hand.

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History of this topic

How the failure of Silicon Valley Bank might have affected the entire financial system
1 year, 8 months ago

How the failure of Silicon Valley Bank might have affected the entire financial system

Firstpost  

Research suggests that a run-on deposits at Silicon Valley Bank and Signature Bank could have set off a cascading series of bank failures, crippling small businesses and economic activity across wide parts of the country Washington: The federal government’s rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Biden administration and …

Profits at big US banks show few signs of industry distress
1 year, 8 months ago

Profits at big US banks show few signs of industry distress

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Despite a pair of historical …

Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank
1 year, 9 months ago

Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank

India TV News  

SBV Crisis: North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world. Shares in mid-sized San Francisco-based First Republic Bank, which serves a similar clientele as Silicon Valley Bank and had appeared to be facing a similar crisis, surged 24.3% in …

Explained | What’s next for Silicon Valley Bank?
1 year, 9 months ago

Explained | What’s next for Silicon Valley Bank?

The Hindu  

The story so far: The collapse of the California-headquartered Silicon Valley Bank in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. This morning, the Government and the Bank of England facilitated a private sale …

Silicon Valley Bank Was Not Your Bank
1 year, 9 months ago

Silicon Valley Bank Was Not Your Bank

Slate  

Silicon Valley Bank exploded last Friday, leaving the kind of wreckage that is only possible when people in charge of a financial institution blow it epically. Then inflation became a big thing, and the Federal Reserve raised interest rates, and suddenly SVB’s bond holdings were less valuable, because they were earning interest at lower rates than investors could get elsewhere. …

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…
1 year, 9 months ago

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…

Hindustan Times  

Silicon Valley Bank, a major depository to tech companies and startups, went bankrupt on Friday, leaving depositors scrambling for their money. Impact of Silicon Valley Bank collapse on Indian financial sector "Indian financial system could get impacted if the exporters who are dependent on US market start seeing slowdown in their businesses and that would impact job growth and ability …

HSBC puts £2 billion into SVB UK after buying it for £1, promises 'more cash'
1 year, 9 months ago

HSBC puts £2 billion into SVB UK after buying it for £1, promises 'more cash'

Hindustan Times  

HSBC injected nearly £2 billion into the United Kingdom arm of collapsed United States-based Silicon Valley Bank - which it bought this week for a nominal £1, or ₹99 - and is ready to 'deploy more cash and liquidity as needed', according to a LinkedIn post by HSBC UK CEO Ian Stuart. On Monday British finance minister Jeremy Hunt confirmed …

Silicon Valley Bank collapse may increase scrutiny of SoftBank Group investments
1 year, 9 months ago

Silicon Valley Bank collapse may increase scrutiny of SoftBank Group investments

Live Mint  

The spectacular collapse of Silicon Valley Bank might increase trouble for other US lenders, and bring SoftBank Group Corp. investments under tightened scrutiny. The shaken confidence of the investors might even bring down SoftBank Group Corp's share below CEO Masayoshi Son’s pain point, reported Bloomberg. SoftBank has made it clear that it expects barely any impact from the US lender's …

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse
1 year, 9 months ago

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse

Live Mint  

The revised outlook of Moody's Investors on the US banking system to ‘negative’ from ‘stable’ has further increased the market chaos that emerged as the after-effect of Silicon Valley Bank's collapse in the economy. From crashing global oil prices to falling currencies, the bank runs at Silicon Valley Bank, Silvergate Capital Corp, and Signature Bank have begun a cycle of …

Silicon Valley Bank crisis: Fed faces flak for ‘missing’ warning signs| 5 points
1 year, 9 months ago

Silicon Valley Bank crisis: Fed faces flak for ‘missing’ warning signs| 5 points

Hindustan Times  

The Silicon Valley Bank collapse continues to dominate headlines in the financial world. The bank's new chief executive officer Tim Mayopoulos has urged the lender's top venture capitalists to move their deposits to its newly created bridge entity, Reuters reported. This comes a day after the Moody's Investors Service downgraded First Republic Bank and five other lenders, citing concerns over …

Banking stocks steady in aftermath of Silicon Valley Bank collapse
1 year, 9 months ago

Banking stocks steady in aftermath of Silicon Valley Bank collapse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Banking stocks steadied on Tuesday …

SVB Crisis: Check The List Of Companies Impacted By US Bank Collapse
1 year, 9 months ago

SVB Crisis: Check The List Of Companies Impacted By US Bank Collapse

ABP News  

Silicon Valley Bank, regarded as a major lender for venture capital-backed firms, especially for tech start-ups, was seized by California banking regulators on Friday. Roku, a streaming devices maker, told the news agency that it has about $487 million, or 26 per cent of its cash and cash equivalents, held in deposits with SVB. Cohu Inc, a semiconductor products maker …

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw

Firstpost  

New Delhi: Amid US administration’s move to backstop collapsed Silicon Valley Bank’s deposits, IT minister Ashwini Vaishnaw has said the developments are “reassuring” and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw

Deccan Chronicle  

New Delhi: Amid US administration's move to backstop collapsed Silicon Valley Bank's despoits, IT minister Ashwini Vaishnaw has said the developments are "reassuring" and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

Silicon Valley Bank collapse: This firm is looking to buy part of bank's loans
1 year, 9 months ago

Silicon Valley Bank collapse: This firm is looking to buy part of bank's loans

Hindustan Times  

Apollo Global Management Inc. expressed interest in snapping up a book of loans held by Silicon Valley Bank, the California lender seized by federal regulators last week. Apollo, one of the world’s largest alternative asset managers, is among other investors looking to buy pieces of Silicon Valley Bank, according to people familiar with the matter. The Federal Deposit Insurance Corp. …

Silicon Valley Bank parent, CEO and CFO are sued by shareholders. Here's why
1 year, 9 months ago

Silicon Valley Bank parent, CEO and CFO are sued by shareholders. Here's why

Hindustan Times  

SVB Financial Group and two top executives were sued on Monday by shareholders who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit, which failed last week, "particularly susceptible" to a bank run. It appeared to be the first of many likely lawsuits over the demise of Silicon Valley Bank, which U.S. regulators seized …

Regret and blame in Silicon Valley after overnight collapse of SVB
1 year, 9 months ago

Regret and blame in Silicon Valley after overnight collapse of SVB

Firstpost  

Silicon Valley Bank, like many other niche banks around the world, was a highly specialized lender with specific idiosyncrasies – and its one-track focus could have been its undoing San Francisco, United States: The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so …

Silicon Valley Bank collapse: Here's what it means for climate tech
1 year, 9 months ago

Silicon Valley Bank collapse: Here's what it means for climate tech

Hindustan Times  

As the buoyancy drained out of the tech sector last year, leading to almost 100,000 job cuts in the US, cleantech looked like a bright spot. “Most banks, they’re banking against assets or cash flow,” said Tom Steyer, co-founder of the Galvanize Climate Solutions investment firm and a former Democratic presidential candidate. Eric Archambeau, co-founder at Astanor Ventures, which has …

Silicon Valley Bank execs, parent company sued after collapse
1 year, 9 months ago

Silicon Valley Bank execs, parent company sued after collapse

Al Jazeera  

Silicon Valley Bank’s parent company and two senior executives are facing a class-action lawsuit in the United States, where shareholders have accused the financial institution of failing to disclose the risks that anticipated interest rate hikes would have on its business. The lawsuit, which accuses SVB of violating federal securities laws, noted that the Federal Reserve, the US central bank, …

UK bank stocks sink deep into the red in aftermath of SVB collapse
1 year, 9 months ago

UK bank stocks sink deep into the red in aftermath of SVB collapse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London’s FTSE 100 index sank …

US, UK governments try to stem fallout from Silicon Valley Bank collapse
1 year, 9 months ago

US, UK governments try to stem fallout from Silicon Valley Bank collapse

Firstpost  

New York: Governments in the UK and the US took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. In an effort to shore up confidence in the banking system, the Treasury Department, Federal Reserve and FDIC said Sunday that all Silicon Valley Bank clients …

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains
1 year, 9 months ago

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains

Live Mint  

Zerodha founder and investor Nithin Kamath said the lesson for the fallout of Silicon Valley Bank or the most recent collapse of a mid-sized Yes Bank in the Indian context is to have funds, especially working capital, distributed across a bunch of banks. Take a look at his tweet: The collapse of the Silicon Valley Bank has rocked the markets, …

HSBC acquires British arm of stricken Silicon Valley Bank
1 year, 9 months ago

HSBC acquires British arm of stricken Silicon Valley Bank

The Hindu  

HSBC said on March 13 it is acquiring the U.K. subsidiary of stricken Silicon Valley Bank for £1, rescuing a key lender for technology start-ups in Britain. The move comes after U.S. authorities moved to shore up deposits and stem any wider fallout from the sudden collapse of its parent, tech start-up lender Silicon Valley Bank. SVB U.K. is ringfenced …

HSBC buys Silicon Valley Bank’s UK arm for £1
1 year, 9 months ago

HSBC buys Silicon Valley Bank’s UK arm for £1

Live Mint  

HSBC Holdings Plc is buying the UK arm of Silicon Valley Bank, the culmination of a frantic weekend where ministers and bankers explored various ways to avert the SVB unit’s collapse. The London-listed lender’s “ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited for £1,” HSBC said in a statement Monday. “SVB UK customers can continue …

HSBC buys UK arm of Silicon Valley Bank for ₹99, gets deposits worth US$ 8.1bn
1 year, 9 months ago

HSBC buys UK arm of Silicon Valley Bank for ₹99, gets deposits worth US$ 8.1bn

Hindustan Times  

The British government on Monday said it had facilitated a private sale of the United Kingdom arm of the collapsed Silicon Valley Bank to HSBC Holdings Plc's 'ring-fenced subsidiary' - with help from the Bank of England - for 1 pound sterling, or around ₹99. HSBC is Europe's largest bank, and SVB UK customers should feel reassured by the strength, …

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours
1 year, 9 months ago

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours

News 18  

The collapse of Silicon Valley Bank, also know as SVB, is being termed as the biggest bank failure since the crisis at Washington Mutual in 2008 or the global financial crisis. Silicon Valley Bank, which was the 16th biggest commercial lender in the US, is a subsidiary of SVB Financial Group and is considered the biggest bank in Silicon Valley …

Silicon Valley Bank collapse: Biden administration's relief to depositors, says…
1 year, 9 months ago

Silicon Valley Bank collapse: Biden administration's relief to depositors, says…

Hindustan Times  

The depositors of the now shut Silicon Valley Bank will have access to all of their money from Monday, a joint statement by US treasury secretary Janet Yellen, Federal Reserve Board chairperson Jerome Powell and Federal Deposit Insurance Corporation chairperson Martin J Gruenberg read. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer”, …

US authorities rush to contain Silicon Valley Bank fallout; President Joe Biden vows to fix 'this mess'
1 year, 9 months ago

US authorities rush to contain Silicon Valley Bank fallout; President Joe Biden vows to fix 'this mess'

Firstpost  

In a joint statement, financial agencies including the US Treasury said SVB depositors would have access to ‘all of their money’ starting Monday, 13 March, and that American taxpayers will not have to foot the bill Washington, United States: US authorities unveiled sweeping measures Sunday to rescue depositors’ money in full from failed Silicon Valley Bank and to promise other …

Why Silicon Valley Bank collapsed and what it could mean
1 year, 9 months ago

Why Silicon Valley Bank collapsed and what it could mean

CNN  

London CNN — Silicon Valley Bank collapsed with astounding speed on Friday. The US federal government has stepped in to guarantee customer deposits, but SVB’s downfall continues to reverberate across global financial markets. In a sign of how seriously officials are taking the SVB failure, US President Joe Biden told Americans Monday that they “can rest assured that our banking …

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse
1 year, 9 months ago

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. She told Sky News: “When markets open tomorrow morning, a lot of businesses in the …

Silicon Valley Bank crash: Anupam Mittal expects ‘doomsday predictions’ to fail. Here's why
1 year, 9 months ago

Silicon Valley Bank crash: Anupam Mittal expects ‘doomsday predictions’ to fail. Here's why

Hindustan Times  

Sharing his opinion on the Silicon Valley Bank situation, Shaadi.com founder Anupam Mittal said the US government will ensure no ‘doomsday prediction’ plays out, as the issue has ‘serious political ramifications’ due to next year's presidential election. Police officers leave Silicon Valley Bank's headquarters in Santa Clara, California. Anupam Mittal's LinkedIn post Responding to the Shaadi.com founder, a user, Ashish …

A timeline of how Silicon Valley Bank collapsed in just 48 hours
1 year, 9 months ago

A timeline of how Silicon Valley Bank collapsed in just 48 hours

Hindustan Times  

The financial world woke up to the shocking news of Silicon Valley Bank being shut down on Friday. The bank also announced offerings for $1.25 billion of its common stock and $500 million of securities that represent convertible preferred shares, Bloomberg reported. March 10: Prominent venture capitalists advised portfolio businesses to withdraw their money from the Silicon Valley Bank. March …

A timeline of how Silicon Valley Bank collapsed in just 48 hours
1 year, 9 months ago

A timeline of how Silicon Valley Bank collapsed in just 48 hours

Hindustan Times  

The financial world woke up to the shocking news of Silicon Valley Bank being shut down on Friday. The bank also announced offerings for $1.25 billion of its common stock and $500 million of securities that represent convertible preferred shares, Bloomberg reported. March 10: Prominent venture capitalists advised portfolio businesses to withdraw their money from the Silicon Valley Bank. March …

U.K. Prime Minister Rishi Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse
1 year, 9 months ago

U.K. Prime Minister Rishi Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse

The Hindu  

British Prime Minister Rishi Sunak said on March 12 he recognised the "anxiety" over the collapse of Silicon Valley Bank but his government was working to find a solution that will secure customers' liquidity and cashflow needs. Mr. Sunak told journalists travelling to the United States that he understood "the anxiety and the concerns customers of the bank have" and …

Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor
1 year, 9 months ago

Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor

Hindustan Times  

Britain's technology and life sciences sectors are at "serious risk" following the closure of the Silicon Valley Bank, Chancellor Jeremy Hunt warned on Sunday. "There is a serious risk to our technology and life sciences sectors, many of whom bank with this bank," Hunt said in an interview with British television channel Sky News. Hunt said the governor of the …

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank
1 year, 9 months ago

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank

Hindustan Times  

The Silicon Valley Bank collapse has created ripples in the banking sector across the world. As soon as the news of SVB's collapse spread like wildfire, Mumbai-based SVC Bank became the unexpected victim of rumour-mongering on social media. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in …

Silicon Valley Bank Failure: Fears for tech startups rise as fallout spreads
1 year, 9 months ago

Silicon Valley Bank Failure: Fears for tech startups rise as fallout spreads

Firstpost  

New York, United States: Silicon Valley Bank’s stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout. The company, whose website says it is “the financial partner of the innovation economy,” was taken over Friday by the US Federal Deposit …

SVB Meltdown: No money for salaries, start-up group starts petition for compensa
1 year, 9 months ago

SVB Meltdown: No money for salaries, start-up group starts petition for compensa

Live Mint  

In the wake of Silicon Valley Bank's collapse, many startups by Y Combinators, a startup incubator that launched Airbnb, and Dropbox and have referred multiple entrepreneurs to the bank are struggling to secure working capital. Tan has addressed a petition to Secretary Janet Yellen, Chairman Martin J. Gruenberg, Chairman Sherrod Brown, and Chairman Patrick McHenry, requesting urgent relief and attention …

From wine country to London, bank’s failure shakes worldwide
1 year, 9 months ago

From wine country to London, bank’s failure shakes worldwide

Associated Press  

NEW YORK — It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. The Bank of England said late Friday that it will put Silicon Valley Bank UK in its insolvency procedure, which will pay out eligible depositors up to 170,000 British pounds for joint accounts “as quickly as possible.” “We know that there are …

Column: With demands for a bank bailout, Silicon Valley shows its ‘small government’ mantra was just a pose
1 year, 9 months ago

Column: With demands for a bank bailout, Silicon Valley shows its ‘small government’ mantra was just a pose

LA Times  

For decades, the dominant mantra of Silicon Valley‘s powerful has been that government is just a drag on their innovative spirit. Business Everything to know about Silicon Valley Bank’s spectacular collapse Silicon Valley Bank failed late last week, prompting fears of wider upheaval. By Friday, however, Summers was saying that it’s “absolutely imperative” that “all depositors be paid back and …

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank
1 year, 9 months ago

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank

NPR  

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images The Biden administration has announced that customers of Silicon Valley Bank will have full access to their deposits, an extraordinary move by federal officials to backstop billions of dollars in uninsured money amid fears that the …

Collapsed Silicon Valley Bank Is Not Shareholder In Paytm: CEO Vijay Shekhar Sharma
1 year, 9 months ago

Collapsed Silicon Valley Bank Is Not Shareholder In Paytm: CEO Vijay Shekhar Sharma

ABP News  

Founder and Chief Executive Officer of Paytm Vijay Shekhar Sharma on Saturday said that collapsed Silicon Valley Bank is not a shareholder of Paytm as of now. Reacting to the news regarding the effect of SVB's collapse on Indian start-ups, Sharma said that SVB was one of Paytm’s first investors but they existed the firm “long back” Vijay Shekhar Sharma …

Explained | What caused Silicon Valley Bank's failure?
1 year, 9 months ago

Explained | What caused Silicon Valley Bank's failure?

The Hindu  

On March 10, 2023 U.S. banking regulators closed the SVB Financial Group, putting the tech-heavy lender into receivership, moving quickly to protect depositors as a crisis rippled through global markets and hit banking stocks. The sudden collapse of Silicon Valley Bank sent shockwaves through the startup community, which has come to view the lender as a source of reliable capital, …

Why is everyone talking about Silicon Valley Bank? All you need to know about the bank’s collapse
1 year, 9 months ago

Why is everyone talking about Silicon Valley Bank? All you need to know about the bank’s collapse

Live Mint  

-- The collapse of a lender little-known outside of Silicon Valley is reverberating around the startup world and deepening uncertainty within the financial industry. All of that spooked a number ofprominent venture capitalists, including Peter Thiel’s Founders Fund, Coatue Management and Union Square Ventures, who, according to sources, instructed portfolio businesses to limit exposure and pull their cash from the …

Why is everyone talking about Silicon Valley Bank? All you need to know about the bank’s collapse
1 year, 9 months ago

Why is everyone talking about Silicon Valley Bank? All you need to know about the bank’s collapse

Live Mint  

-- The collapse of a lender little-known outside of Silicon Valley is reverberating around the startup world and deepening uncertainty within the financial industry. All of that spooked a number ofprominent venture capitalists, including Peter Thiel’s Founders Fund, Coatue Management and Union Square Ventures, who, according to sources, instructed portfolio businesses to limit exposure and pull their cash from the …

A week of mayhem: Two US banks collapse back-to-back, are more failures looming?
1 year, 9 months ago

A week of mayhem: Two US banks collapse back-to-back, are more failures looming?

Hindustan Times  

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the US financial system. Whether US regulators saw the dangers brewing early enough and took enough action before this week’s collapse of Silvergate Capital Corp. and much larger SVB Financial Group is now teed up for …

What does Silicon Valley Bank’s collapse mean for the financial system?
1 year, 9 months ago

What does Silicon Valley Bank’s collapse mean for the financial system?

Live Mint  

That is how Silicon Valley Bank, the 16th-largest lender in America, with about $200bn in assets, went bust. But just two days elapsed between the San Francisco-based bank’s announcement on March 8th that it was seeking to raise $2.5bn to plug a hole in its balance-sheet, and the declaration by the Federal Deposit Insurance Corporation, which regulates American bank deposits, …

Silicon Valley Bank had negative balance of $US 958 million end-of-day Thursday
1 year, 9 months ago

Silicon Valley Bank had negative balance of $US 958 million end-of-day Thursday

Hindustan Times  

Investors and depositors tried to pull $42 billion from Silicon Valley Bank on Thursday in one of the biggest US bank runs in more than a decade, according to a Friday regulatory filing. A locked door to a Silicon Valley Bank location on Sand Hill Road is seen in Menlo Park, California, U.S. March 10, 2023. “Despite attempts from the …

Silicon Valley Bank collapses in America's biggest banking failure since 2008
1 year, 9 months ago

Silicon Valley Bank collapses in America's biggest banking failure since 2008

Hindustan Times  

Silicon Valley Bank became the biggest US lender to fail in more than a decade after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus from the tech startups that had fueled the lender’s rise. A property managment representative gestures while asking reporters to clear the entrance area to Silicon Valley Bank in Santa …

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