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The Latest Breaking News from FDIC

US seeks to quell risk of a bank run as Yellen pledges protections

WASHINGTON — U.S. regulators are racing against the clock to find solutions for failed Silicon Valley Bank while Treasury Secretary Janet Yellen said officials are focusing on protecting depositors, as officials seek to avoid a wider bank run.

Tribune News Service

FDIC working on finding buyer for Silicon Valley Bank, California Rep. Khanna says

WASHINGTON — Rep. Ro Khanna, D-Calif., said the Federal Deposit Insurance Corp. is working to find a buyer for Silicon Valley Bank and urged the U.S. government to step in and guarantee all of the bank’s deposits.

Tribune News Service

Can the chaos from Silicon Valley Bank's fall be contained?

Can Washington come to the rescue of Silicon Valley Bank's depositors

The Independent UK

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US guarantees all deposits after Silicon Valley Bank collapse, as Biden promises action

Announcement comes as Signature Bank was closed on Sunday by regulators – the second to fail in a week

The Guardian - US

How Silicon Valley Bank could precipitate a banking crisis

Corporate America just got a stark reminder that none of their deposits are insured above $250,000 by the Federal Deposit Insurance Corporation (FDIC).

Axios

Regulators shut down SBV after bank run

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

Fortune

One of Silicon Valley's Top Banks Fails; Assets are Seized

Regulators rushed Friday to seize the assets of one of Silicon Valley's top banks, marking the largest failure of a US 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…

Asharq Al-Awsat

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FDIC races to start returning some uninsured SVB deposits Monday

U.S. regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.

Tribune News Service

Mark Cuban urges Fed to buy Silicon Valley Bank debt ‘immediately,’ says it’s ‘not the wealthy taking the hit’

It's entrepreneurs and their employees and vendors who are "feeling the pain," Cuban said.

Fortune

SVB doled out bonuses ahead of FDIC seizure

The FDIC emailed SVB employees late last night, offering 45 days of employment.

Axios

From Santa Clara to Shoreditch, SVB fallout spreads around world

The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.

Tribune News Service

As banks topple, regulators face reckoning on week of mayhem

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.

Tribune News Service

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

Fortune

Silicon Valley Bank failure could wipe out 'a whole generation of startups'

The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.

WEKU

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Fortune

Circle reveals it has $3.3 billion stuck at Silicon Valley Bank as USDC wobbles against its peg

The company insisted that it was protecting the stablecoin from a "black swan failure."

Tribune News Service

SVB spectacularly fails after unthinkable heresy becomes reality

Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air.

The Conversation

Silicon Valley Bank biggest US lender to fail since 2008 financial crisis – a finance expert explains the impact

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

The New Daily

Shockwaves rock US tech and finance sectors as Silicon Valley Bank goes belly-up

US regulators have seized Silicon Valley Bank's assets, marking the largest failure of a financial institution since the height of the GFC

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Los Angeles Times

Michael Hiltzik: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours

All banking crises throughout history have shared a common element: Short-term depositors try to withdraw their money from institutions locked into long-term assets.

Fortune

Here's what it looked like outside Silicon Valley Bank after it shutdown

The failure of one of the largest commercial banks in the U.S. left people frantically figuring out next steps Friday morning.

The Guardian - US

Why did Silicon Valley Bank fail?

Shutdown and takeover of bank by regulators can be traced to the Fed raising interest rates and risk-averse investors

Fortune

How did the tech world's biggest bank collapse in under a week?

The tech and VC sector's most reliable lender collapsed literally overnight. How did that happen?

Fortune

Startup founders are reeling as their Silicon Valley Bank funds are in limbo: ‘Our heads are spinning’

Founders who spoke with Fortune are frantically trying to untangle when they’ll get any money back—and how long they can make payroll.

WEKU

A Silicon Valley lender collapsed after a run on the bank. Here's what to know

Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.

The New Daily

US regulator closes failed bank and seizes its assets

A US regulator has shut Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation as the receiver.

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