Bank stocks around the world plunged even as President Joe Biden vowed to ensure the safety of the US banking system, after Silicon Valley Bank and Signature Bank collapsed. | Reuters
Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, US, March 13, 2023. REUTERS/Brian Snyder
California banking regulators closed the bank, which did business as Silicon Valley Bank, and appointed the Federal Deposit Insurance Corporation as receiver for later disposition of its assets. State regulators closed New York-based Signature Bank on Sunday, the third-largest failure in US banking history. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and “no losses will be borne by the taxpayer,” the US Treasury Department and other bank regulators said.
In Britain, HSBC bought the UK arm of Silicon Valley Bank for a symbolic one pound on Monday, rescuing a key lender for technology startups in England. The SVB shock could also have a chilling effect on the British biotech sector, executives said. About 40% of the UK’s biotech companies were banking with Silicon Valley Bank’s British arm, according to the UK BioIndustry Association .
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
U.S. Treasury says Silicon Valley Bank, Signature Bank ‘not being bailed out’New policies adopted on Sunday by U.S. banking regulators will “wipe out” equity and bondholders in Silicon Valley Bank and Signature Bank of New York while protecting all customer deposits, a senior U.S. Treasury official said. | Reuters
Baca lebih lajut »
Silicon Valley Bank's demise: Why didn't US bank regulators see it coming?Banking experts have been among those alarmed at the rapid collapse of Silicon Valley Bank, the United States' 16th biggest bank by assets and how its demise became a harbinger of Sunday's failure of another lender, Signature Bank.
Baca lebih lajut »
Worry for tech startups after Silicon Valley Bank failureSilicon Valley Bank’s stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout. | AFP
Baca lebih lajut »
Silicon Valley Bank's demise began with downgrade threat – sourcesDetails of Silicon Valley Bank's failed response to the prospect of a Moody's Investors Service downgrade show how quickly confidence in financial institutions can erode.
Baca lebih lajut »
Silicon Valley Bank staff offered 45 days of work at 1.5 times payThe collapsed Silicon Valley Bank had a workforce of 8,528 at the end of 2022.
Baca lebih lajut »
UK races to minimize damage from Silicon Valley Bank collapseMore than 250 UK tech firm executives sign a letter calling for government intervention and warning of an 'existential threat' to the UK tech sector.
Baca lebih lajut »