First Republick Claimed It Lost Over $100 Billion in Deposits
First Republic claimed the company lost over $100 billion in customer deposits after the collapse of Silicon Valley Bank. As a results of it the company’s shares fell over 20%…
First Citizens Bancshares to Buy All of SVB’s Assets
The Federal Deposit Insurance Corporation said that First Citizens Bancshares is purchasing all of Silicon Valley Bank’s assets, including deposits, loans and branches.
SVB Financial Group Filed for Chapter 11 Bankruptcy Protection
A week after the Federal Deposit Insurance Corporation regulators took over the Silicon Valley Bank, SVB Financial Group, the parent company of the bank, has filed for Chapter 11 bankruptcy…
Justice Department & The SEC Are Investigating the Collapse of Silicon Valley Bank
It has been reported that the Justice Department and the Security & Exchange Commission are investigating the collapse of Silicon Valley Bank, after federal regulators took the bank over last…
FDIC Planning to Auction Silicon Valley Bank Again
The FDIC regulators are going to attempt to auction off failed Silicon Valley Bank again, after no buyer tried to purchase it at another auction over the weekend.
Silicon Valley Bank Updates
3:55 am: The Silicon Valley Bank’s United Kingdom arm has been bought by HSBC for around $1. 9:50 am: President Joe Biden emphasized that the United States banking system is…
Federal Reserve Chair Said All Depositors of Silicon Valley Bank Will Get Their Monday & a Second Bank Has Also Closed
Federal Reserve Chairman Jerome Powell said that all depositors will have access to their money on Monday. Federal Regulators also said that a second bank, Signature Bank, has closed.
Federal Regulators Set to Auction Off Silicon Valley Bank
Federal Regulators are set to auction off of failed Silicon Valley Bank this afternoon.
Silicon Valley Bank Taken Over By the Federal Government
Silicon Valley Bank stock was halted from tradin after falling 68% in preparket trading. SVB was closed by federal regulators after a run on deposits stopped their plans to raise…