collapse – SierraDailyNews.com

Fed was aware of Silicon Valley Bank problems more than a year before its collapse

Monday, March 20

(WASHINGTON) -- The Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed on Monday following a New York Times report.Even more, ABC News has confirmed a Wall Street Journal report that the Fed... Read More.

Pension funds report millions in losses amid Silicon Valley Bank collapse

Friday, March 17

(NEW YORK) -- An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.The State Teachers Retirement System (STRS) of Ohio stated that the shares represented a minuscule portion... Read More.

Why most bank deposits are safe, despite the Silicon Valley Bank collapse

Wednesday, March 15

(NEW YORK) -- The failure of Silicon Valley Bank, the second-biggest bank collapse in U.S. history, called into doubt the fate of roughly $175 billion in customer deposits.Days later, the U.S. government guaranteed the protection of all Silicon Valley Bank deposits but the turmoil left... Read More.

Silicon Valley Bank: How a digital bank run accelerated the collapse

Tuesday, March 14

(NEW YORK) -- The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, took place over less than 48 hours.Customers withdrew $42 billion -- nearly a quarter of the bank's total deposits -- within a single day last week.The speedy bank run... Read More.

Silicon Valley Bank marketed itself as a climate tech-friendly bank. How will its collapse impact the industry?

Tuesday, March 14

(NEW YORK) -- Silicon Valley Bank's failure on Friday raises concerns over the potential impacts on the climate technology industry, where SVB was heavily involved."They went out of their way to attract entrepreneurs, to attract companies in the technology industry. They were one of the... Read More.

Justice Department, SEC probing collapse of Silicon Valley Bank: Sources

Tuesday, March 14

(WASHINGTON) -- The Justice Department and Securities and Exchange Commission are probing the collapse of Silicon Valley Bank, according to two people familiar with the situation.The probes, which are separate, are in the preliminary stages and it is not clear whether any wrongdoing has... Read More.

Is this a banking crisis? What to know about the Silicon Valley Bank collapse

Monday, March 13

(NEW YORK) -- The largest bank failure since the 2008 crisis has triggered a major U.S. government intervention to protect the financial system.Silicon Valley Bank, the nation's 16th largest bank, collapsed on Friday, forcing a government takeover and calling into question the fate of... Read More.

Silicon Valley Bank collapse: Treasury, Fed and FDIC announce steps to ensure deposits will be paid in full

Monday, March 13

(WASHINGTON) -- The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced Sunday that they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full."After receiving a recommendation from the boards of... Read More.