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The Latest Breaking News from Silicon Valley Bank

Signature Bank shut by regulators, noting systemic risk

Like Silicon Valley Bank, the firm's depositors will be made whole, officials say.

Axios

Second bank closed as regulators say they will protect Silicon Valley Bank deposits at no cost to taxpayer

Signature Bank of New York shuttered as federal government moves to protect depositors

The Independent UK

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank

Federal officials made the emergency announcement Sunday amid panic from depositors over the state of uninsured deposits.

WEKU

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ASX 200 falls, US regulators to protect all Silicon Valley Bank depositors — as it happened

The Australian share market closed lower on Monday, as the fallout from the collapse of startup-focused lender Silicon Valley Bank (SVB) spooked investors. Catch up on the day's market news.

ABC News

U.S. regulators will protect all Silicon Valley Bank depositors to stem fallout

Federal banking regulators took aggressive new actions aimed at preventing depositors' funds in failed Silicon Valley Bank from losing money.

Axios

More than 1,000 VC, PE, and investment firms held capital at SVB in 2022

General Catalyst, Two Sigma, and Andreessen Horowitz all kept some portion of their billions in fund assets at the bank.

Fortune

Biden unlikely to bail out Silicon Valley Bank, as right claims it failed because it was ‘woke’

Second-largest bank collapse in US history met with eyerolls in Washington

The Independent UK

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Bank of London confirms bid to rescue Silicon Valley Bank UK

The clearing bank is the first confirmed bidder for the UK arm of the collapsed Silicon Valley Bank

Evening Standard

After Silicon Valley Bank failure ‘there’s going to be more,’ warns former FDIC Chair William Isaac

“There’s no doubt in my mind," said Isaac. "Seems to me to be a lot like the 1980s.”

Fortune

Janet Yellen says the federal government won't bail out Silicon Valley Bank

The California lender was taken over by regulators after a "run" on the bank. The Treasury secretary says the U.S. won't come to the bank's rescue like it did for others in the 2008 financial crisis.

WEKU

AP News Digest 2 p.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

The Independent UK

US seeks to quell risk of a bank run as Yellen pledges protections

WASHINGTON — U.S. regulators are racing against the clock to find solutions for failed Silicon Valley Bank while Treasury Secretary Janet Yellen said officials are focusing on protecting depositors, as officials seek to avoid a wider bank run.

Tribune News Service

Chancellor 'working ‘at pace’ to help UK tech firms after Silicon Valley Bank collapse

Warning that science and technology firms face 'serious risk'

Birmingham Post

FDIC working on finding buyer for Silicon Valley Bank, California Rep. Khanna says

WASHINGTON — Rep. Ro Khanna, D-Calif., said the Federal Deposit Insurance Corp. is working to find a buyer for Silicon Valley Bank and urged the U.S. government to step in and guarantee all of the bank’s deposits.

Tribune News Service

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The Guardian - UK

Why Silicon Valley Bank was so important to UK tech sector

SVB specialised in high-growth startups, solving problems other lenders would not touch

Insider UK

Hunt working ‘at pace’ to help tech firms after Silicon Valley Bank collapse

Warning of 'serious risk' to tech and science firms

The Independent UK

Israel to weigh action after Silicon Valley Bank collapse

Israeli Prime Minister Benjamin Netanyahu says that the government will assess the Silicon Valley Bank’s collapse and determine whether or not to assist Israeli companies

The Independent UK

Can the chaos from Silicon Valley Bank's fall be contained?

Can Washington come to the rescue of Silicon Valley Bank's depositors

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news in one place.

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Fortune

The first social media bank run? A newsletter popular with VCs may have been the domino that started the Silicon Valley Bank implosion

According to one theory, the run on SVB can be traced back to an email newsletter and an accompanying tweet, and the subsequent reaction.

Asharq Al-Awsat

Kuwait Central Bank Expects Little SVB Impact on Local Lenders

Kuwait's central bank said on Sunday there would be very little impact on local lenders from the collapse on Friday of Silicon Valley Bank (SVB). The Kuwaiti central bank governor said that the exposure of the local banks to SVB was very limited and that the banks assured him that…

The Guardian - US

US guarantees all deposits after Silicon Valley Bank collapse, as Biden promises action

Announcement comes as Signature Bank was closed on Sunday by regulators – the second to fail in a week

Evening Standard

Government to line up Barclays for Silicon Valley Bank UK unit rescue deal

The government is seeking to line up Barclays to take over the UK unit of Silicon Valley Bank (SVB) in a bid to rescue it from liquidation, the Standard has learned.

Axios

How Silicon Valley Bank could precipitate a banking crisis

Corporate America just got a stark reminder that none of their deposits are insured above $250,000 by the Federal Deposit Insurance Corporation (FDIC).

The Independent UK

Yellen says no federal bailout for Silicon Valley Bank

Treasury Secretary Janet Yellen says the federal government won't bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money

Fortune

Regulators shut down SBV after bank run

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

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