California Governor Gavin Newsom said in a statement that he's working with the White House and Federal Deposit Insurance Corporation after Silicon Valley Bank was shut down by regulators.
Silicon Valley Bank headquarters in Santa Clara, California, US, on Friday, March 10, 2023. Silicon Valley Bank became the biggest US bank failure in more than a decade, after its long-established customer base of tech startups grew worried and yanke
The bank was the 16th-largest bank inside the United States, and is the second-largest bank in the United States to close since 2008.California Gov. Gavin Newsom speaks during a press conference on October 06, 2022 in San Francisco, California.bank accounts up to $250,000, and said on Friday that depositors within SVP would regain access to accounts by Monday morning.
A customer stands outside of a shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal DepoFOX Business' Breck Dumas contributed to this report.
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Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
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Silicon Valley Bank closed by California regulator and FDIC named receiverSilicon Valley Bank has been closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation (FDIC)...
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Silicon Valley Bank closed by California regulatorSilicon Valley Bank has closed by order of the California Department of Financial Protection and Innovation
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Silicon Valley Bank shut down by California regulatorUninsured depositors will receive an advance dividend within the next week and a receivership certificate for the remaining amount of their uninsured funds, according to the release.
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California regulator takes over Silicon Valley BankThe California Department of Financial Protection and Innovation announced Friday that it “has taken possession of Silicon Valley Bank citing inadequate liquidity and insolvency.”
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Silicon Valley Bank shut by California regulatorA California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver, according to the agency's statement.
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