New York CNN — The question on so many bank customers’ minds in the aftermath of Silicon Valley Bank’s stunning collapse: Is my money safe? A bank run on Silicon Valley Bank led the Federal Deposit Insurance Corporation to take control of the bank Friday in the second-largest bank failure in US history. The FDIC … Read more
NEW YORK (AP) — Governments in the UK and U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon Valley … Read more
“Imagine if politicians’ campaign funds were in SVB. Does anyone think we wouldn’t have had more action & communication?” Democrat Rep. Ro Khanna, whose Northern California district is home to the bank, tweeted on Saturday afternoon. So far, the Federal Deposit Insurance Corp. has offered little clarity on what might happen to SVB’s more than … Read more
Britain’s finance ministry and the Bank of England are working together to minimize the disruption that could stem from a collapse of the UK arm of Silicon Valley Bank, which has been seized by US regulators, the ministry said on Saturday, Trend reports citing Al Arabiya. Talks were scheduled for later on Saturday to discuss … Read more