Silicon Valley Bank: why did it collapse and is this the start of a banking crisis?

Customers of Silicon Valley Bank have had their deposits secured by a late night deal between the US Treasury and Federal Reserve. Photograph: Avishek Das/SOPA Images/REX/Shutterstock

Four decades ago, Silicon Valley Bank (SVB) was born in the heart of a region known for its technological prowess and savvy decision making.

The California-headquartered organisation grew to become the 16th largest bank in the US, catering for the financial needs of technology companies around the world, before a series of ill-fated investment decisions led to its collapse.