In this file photo taken on March 20, 2023, the SVB Private logo is displayed outside of a Silicon Valley Bank branch in Santa Monica, California. First Citizens Bank bought “all the deposits and loans” of Silicon Valley Bank after it went bankrupt at the beginning of March, a U.S. banking agency said on March […]
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The story so far: The collapse of the California-headquartered Silicon Valley Bank (SVB) in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection (DFPI) closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. It appointed the Federal Deposit Insurance […]
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The Bombay Stock Exchange (BSE) building in Mumbai. File | Photo Credit: The Hindu Falling for the third straight session, equity benchmark Sensex tanked nearly 900 points to close below the 59,000 mark on Monday due to a massive sell-off in banking, finance and auto stocks amid one of the biggest U.S. bank failures. Besides, […]
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