Silicon Valley Bank fails in largest bank collapse since 2008 crisis

US regulators seize SVB’s assets after a run on the bank, as global institutions monitor situation closely

Why did Silicon Valley Bank fail?

US regulators rushed to seize the assets of top tech lender Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of such an institution since the height of the financial crisis more than a decade ago.

Silicon Valley Bank (SVB), the nation’s 16th largest bank, failed after depositors – mostly technology workers and venture capital-backed companies – hurried to withdraw their money this week as anxiety over the bank’s situation spread.

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