Federal Deposit Insurance Corp.

SVB depositors, investors tried to pull $42 billion Thursday

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SVB depositors, investors tried to pull billion Thursday

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. At the close of business on March 9, the bank had a negative cash balance of $958 million, according to an order … Read more

Silicon Valley Bank collapses after failing to raise capital | CNN Business

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Silicon Valley Bank collapses after failing to raise capital | CNN Business

New York CNN  —  Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which its capital crisis set off fears of a meltdown across the banking industry. Its failure marks the largest shutdown of a US bank since 2008, when Washington Mutual fell during the financial crisis. California regulators closed down the … Read more