Startup-focused lender SVB Financial Group last week became the largest bank to fail since the 2008 financial crisis, sending ripples across the globe as billions of dollars belonging to companies and investors were left stranded.
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The biopharmaceutical company says it has $26 million of deposits at SVB U.S., and expects to not bear any losses on these depositsThe Sweden-based investment firm says its pro rata share of SVB deposits amounts to less than $20 millionThe intellectual property services provider says a small cash position held within SVB in U.S. is expected to be fully protected under Federal Deposit Insurance Corporation Scheme.
"For individual pension savers at Alecta, the impact of this investment on future occupational pension payments is very small," it adds. Alecta was SVB's fourth-biggest owner with a 4.45% stake on Dec. 31, according to Refinitiv.
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