svb

A California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement.Silicon Valley Bank had about $209 billion in total assets and about $175.4 billion in total deposits, as of Dec. 31, 2022, a Reuters report said.The main office and all branches of Silicon Valley Bank will reopen on March 13 and all insured depositors will have full access to their insured deposits no later than Monday morning, according to the…

SVB Financial Group's efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks.Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading.SVB, which does business as Silicon Valley Bank, was not immediately available for comment. The brutal rout in the lender's stock which began on Thursday spilled over into other U.S. and European banks as the…

The crisis at Silicon Valley Bank (SVB) in the US has rattled some Indian investors and founders running SaaS companies with accounts at the lender. As the bank's stock lost over 60% of its value on Thursday, venture capital funds checked in with homegrown startups, especially those headquartered in the US, about how much of their capital is held at SVB Financial Group. While late-stage Indian-origin SaaS (software as a service) firms like Zenoti told ET that they moved out of SVB last year, early-stage SaaS firms do bank…

SVB Financial Group's efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks.Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading.SVB, which does business as Silicon Valley Bank, was not immediately available for comment. The brutal rout in the lender's stock which began on Thursday spilled over into other U.S. and European banks as the…