15.8 C
New York
September 30, 2023
Bank of England Banking Bonds Business Economics europe FTSE news Stock markets Technology sector UK news US economy US interest rates US news World 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

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

Russia-Ukraine war live: Ukraine makes ‘tactically significant’ gains in Bakhmut, says US thinktank, as war enters 500th day

TheWorldsNews

Russia-Ukraine war at a glance: what we know on day 495 of the invasion

TheWorldsNews

Paris Picasso museum reinvents itself to tackle artist’s troubled legacy

TheWorldsNews

Pin It on Pinterest

Share This