The Latest Breaking News from Silicon Valley Bank

Despite rescue, Seattle startups and banks face SVB blowback

Seventy-two hours after the stunning failure of Silicon Valley Bank, federal action means Seattle-area tech and wine industry companies can have access to millions of dollars frozen in SVB accounts.

Tribune News Service · Mar 14, 2023

Federal Reserve faces dual test of high inflation, bank instability

The US Federal Reserve faces a tricky balancing act, as it tries to navigate high inflation and instability in the banking sector. Alexander Yokum, of CFRA Research, says the collapse of Silicon Valley Bank and Signature Bank could affect the Fed's next interest rate decision, despite a 6 percent jump…

France 24 · Mar 14, 2023

Elizabeth Warren is among the furious politicians demanding SVB execs return their salaries, bonuses, and $84 million in stock sale profits

Sen. Elizabeth Warren says SVB execs should give back their salaries for “facilitating a near-economic disaster.”

Fortune · Mar 14, 2023

Justice Department opens probe into Silicon Valley Bank after its sudden collapse

Justice Department officials have launched an investigation into the bank amid growing questions about who shares responsibility for the largest bank failure since the 2008 collapse.

WEKU · Mar 14, 2023

Silicon Valley Bank’s collapse undercuts key engine of Bay Area economy

The collapse of Silicon Valley Bank has stripped the Bay Area’s startup industry — a key driver of the region’s economy — of a crucial source of funding that for decades has fueled innovation and growth.

Tribune News Service · Mar 14, 2023

Fed, under criticism for bank failure, faces tough decisions

The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into what became the second-largest bank failure in U.S. history

The Independent UK · Mar 14, 2023

In wake of SVB collapse, California business owners scramble to contain fallout

Locked out of her three accounts with failed Silicon Valley Bank, cookbook author Anna Vocino spent the weekend in a state of high anxiety, unsure about the future of her sauces and spices company.

Los Angeles Times · Mar 14, 2023

‘It’s a big failure for us.' Sweden’s largest pension fund invested in both Silicon Valley Bank and Signature Bank before they failed

“We need to learn something from that and take actions based upon the lessons learned," Alecta CEO Magnus Billing told Bloomberg on Tuesday.

Fortune · Mar 14, 2023

Silicon Valley Bank execs, parent company sued after collapse

Class-action lawsuit seeking damages alleges that tech-focused bank failed to disclose risks from interest rate hikes.

Al Jazeera · Mar 14, 2023

Lawmaker’s explanation of Silicon Valley Bank’s collapse goes viral earning praise from followers

‘This is so good. Can you explain ... everything?’

The Independent UK · Mar 14, 2023