Silicon Valley Bank’s parent company predicted bankruptcy Russian News EN

Reuters: Parent of Silicon Valley Bank eyes bankruptcy

Silicon Valley Bank’s parent company, SVB Financial Group, is considering filing for bankruptcy. This is reported Reuters with reference to sources.

SVB Financial Group, a company whose former Silicon Valley Bank subsidiary was taken over by banking regulators last week UNITED STATES considers the option of creditor protection under bankruptcy law as one of the options for the sale of assets,” the agency noted.

About the Silicon Valley Bank Failure became known March 11. It is the largest bank to fail since the 2008 crisis. We note that last year, it was estimated at 40 billion dollars, and its capitalization was increasing rapidly.

March 12 New York Signature Bank farm due to systemic risks following the collapse of Silicon Valley Bank. This is stated in a joint statement. US Treasury, Federal Reserve System and the Federal Deposit Insurance Corporation. All depositors of both organizations have been promised full access to their assets.

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