Silicon Valley Bank’s (SVB) collapse was one of the largest banking failures in American history. And according to a report Tuesday (March 12) by Bloomberg News, that collapse brought with it the largest penalty since before the 2008 financial crisis: $285 million in fees to retire emergency financing...
Silicon Valley Bank’s new owner faces two challenges: improving business while restoring the bank’s reputation. In a Financial Times interview published Sunday (April 23), Peter Bristow — the president of North Carolina-based First Citizens — said he is working to control deposit outflows and keep bankers from jumping ship to...
The collapse of Silicon Valley Bank (SVB) disproportionately affected regional banks, as its over-the-weekend failure last month spurred a deposit flight to the presumed safety of “too big to fail” lenders like J.P. Morgan, Bank of America and other financial giants. That’s part of the reason why Truist Financial...
President Joe Biden has called for an investigation into the collapse of Silicon Valley and Signature banks. “There are important questions of how these banks got into the circumstances in the first place,” the president said during a brief speech Monday (March 13). “We must get the full accounting of...
August 04, 2024
Silicon Valley Bank’s former owner has gotten a judge’s permission to end its bankruptcy. As Reuters reported Saturday (Aug. 3), SVB Financial Group has been given leave to turn over its assets to its creditors, bringing its bankruptcy to a close. According to the report, the company’s bankruptcy restructuring includes a provision for the establishment […]
March 12, 2024
Silicon Valley Bank’s (SVB) collapse was one of the largest banking failures in American history. And according to a report Tuesday (March 12) by Bloomberg News, that collapse brought with it the largest...
April 23, 2023
Silicon Valley Bank’s new owner faces two challenges: improving business while restoring the bank’s reputation. In a Financial Times interview published Sunday (April 23), Peter Bristow — the president of North Carolina-based First Citizens —...
March 13, 2023
President Joe Biden has called for an investigation into the collapse of Silicon Valley and Signature banks. “There are important questions of how these banks got into the circumstances in the first place,” the...
