Tag: Silicon Valley Bank

Silicon Valley Bank depositors will have access to their money starting Monday: Treasury Secretary

Silicon Valley Bank depositors will have access to their money starting Monday: Treasury Secretary

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A sign for Silicon Valley Bank (SVB) headquarters is seen in Santa Clara, California, U.S. | Photo Credit: REUTERS In a step aimed at protecting the U.S. economy by strengthening public confidence in the country’s banking system, the Biden administration announced that depositors of the Silicon Valley Bank will have access to their money from […]

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

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

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File photo of Britain’s Prime Minister Rishi Sunak. Mr. Sunak on March 12, 2023, said the government is working towards safeguarding customers in the aftermath of the Silicon Valley Bank collapse. | Photo Credit: Reuters British Prime Minister Rishi Sunak said on March 12 he recognised the “anxiety” over the collapse of Silicon Valley Bank […]

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Collapse of Silicon Valley Bank to impact Indian startup ecosystem, feel experts

Collapse of Silicon Valley Bank to impact Indian startup ecosystem, feel experts

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From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after their bank, Silicon Valley Bank, suddenly shut down on Friday. The meltdown means distress not only for businesses but also for all their workers whose paychecks may get tied up in the chaos. […]

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Explained | What caused Silicon Valley Bank’s failure?

Explained | What caused Silicon Valley Bank’s failure?

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Santa Clara Police officers exit Silicon Valley Bank in Santa Clara, California, on March 10, 2023. The Federal Deposit Insurance Corporation is seizing the assets of Silicon Valley Bank, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis. The FDIC ordered the closure of Silicon Valley Bank and […]

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Silicon Valley Bank shut down by regulators; assets seized

Silicon Valley Bank shut down by regulators; assets seized

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Regulators rushed on Friday to seize the assets of one of Silicon Valley’s top banks, marking the largest failure of a U.S. financial institution since the height of the financial crisis almost 15 years ago. Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this week amid anxiety over the […]

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Europe’s banks suffer worst day in 9 months after sharp sell-off in U.S. banks

Europe’s banks suffer worst day in 9 months after sharp sell-off in U.S. banks

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SVB (Silicon Valley Bank), JP Morgan, Bank of America, Citibank and Wells Fargo logos are seen through broken glass in this illustration taken March 10, 2023. | Photo Credit: Reuters European bank shares tumbled on March 10 in the wake of a dramatic sell-off in U.S. lenders as concern spread that the sector will be […]

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