© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

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

  • Why did Silicon Valley Bank fail?

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.

Continue reading…

Related posts

Waitrose to stop selling suffocated farmed prawns, as campaigners say they feel pain

AEA3

Australian Open 2023: Andy Murray v Roberto Bautista Agut, and more – live

AEA3

Green cards, cannabis and a strip club: JCB heir in US legal battle

AEA3

Pin It on Pinterest

Share This