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The Latest Breaking News from SVB

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

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

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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

Why Silicon Valley Bank was so important to UK tech sector

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

The Guardian - UK

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.

Fortune

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…

Asharq Al-Awsat

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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

The Guardian - US

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.

Evening Standard

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).

Axios

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?

Fortune

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

Government ‘working at pace’ to limit damage, says chancellor

The Independent UK

FDIC races to start returning some uninsured SVB deposits Monday

U.S. regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation.

Tribune News Service

Mark Cuban urges Fed to buy Silicon Valley Bank debt ‘immediately,’ says it’s ‘not the wealthy taking the hit’

It's entrepreneurs and their employees and vendors who are "feeling the pain," Cuban said.

Fortune

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Axios

SVB doled out bonuses ahead of FDIC seizure

The FDIC emailed SVB employees late last night, offering 45 days of employment.

Tribune News Service

From Santa Clara to Shoreditch, SVB fallout spreads around world

The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.

Fortune

Elon Musk is ‘open to the idea’ of buying Silicon Valley Bank as he lays Twitter payments groundwork

Musk is watching the Silicon Valley Bank failure with interest as he works to enable payments on Twitter.

The Independent UK

Trump blamed over Silicon Valley Bank collapse for watering down financial regulations

Fifty Republican and 17 Democratic senators voted to reduce regulations on the bank

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Tribune News Service

As banks topple, regulators face reckoning on week of mayhem

On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.

Fortune

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

The Guardian - US

USD Coin value falls after revealing $3.3bn held at Silicon Valley Bank

The stablecoin fell as low as $0.87 as Circle broke the news that its reserves were at the collapsed lender

Axios

SVB: A startup bank's rise and fall

How SVB happened, and how it all came crashing down.

Evening Standard

New bank considers offer for UK arm of collapsed Silicon Valley Bank

A new bank which has only been in business for two years is considering a bid to buy the British arm of the failed Silicon Valley Bank (SVB), according to reports.

Evening Standard

‘We can’t make payroll’: scores of London tech firms in cash crisis amid Silicon Valley Bank collapse

The UK startup ecosystem is under immense strain today after the collapse of Silicon Valley Bank has prevented scores of startups from accessing the cash to pay staff.

WEKU

Silicon Valley Bank failure could wipe out 'a whole generation of startups'

The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.

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