The Latest Breaking News from SVB

Biden unlikely to bail out Silicon Valley Bank, as right claims it failed because it was ‘woke’

Second-largest bank collapse in US history met with eyerolls in Washington

The Independent UK · Mar 12, 2023

After Silicon Valley Bank failure ‘there’s going to be more,’ warns former FDIC Chair William Isaac

“There’s no doubt in my mind," said Isaac. "Seems to me to be a lot like the 1980s.”

Fortune · Mar 12, 2023

Janet Yellen says the federal government won't bail out Silicon Valley Bank

The California lender was taken over by regulators after a "run" on the bank. The Treasury secretary says the U.S. won't come to the bank's rescue like it did for others in the 2008 financial crisis.

WEKU · Mar 12, 2023

Kuwait Central Bank Expects Little SVB Impact on Local Lenders

Kuwait's central bank said on Sunday there would be very little impact on local lenders from the collapse on Friday of Silicon Valley Bank (SVB). The Kuwaiti central bank governor said that the exposure of the local banks to SVB was very limited and that the banks assured him that…

Asharq Al-Awsat · Mar 12, 2023

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 · Mar 12, 2023

Government to line up Barclays for Silicon Valley Bank UK unit rescue deal

The government is seeking to line up Barclays to take over the UK unit of Silicon Valley Bank (SVB) in a bid to rescue it from liquidation, the Standard has learned.

Evening Standard · Mar 12, 2023

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 · Mar 12, 2023

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 · Mar 12, 2023

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

Government ‘working at pace’ to limit damage, says chancellor

The Independent UK · Mar 12, 2023

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 · Mar 12, 2023