Silicon Valley Financial institution was shuttered by US regulators on Friday after a rush of deposit outflows and a failed effort to boost new capital known as into query the way forward for the tech-focused lender.
With about $209bn in belongings, SVB has turn out to be the second-largest financial institution failure in US historical past after the 2008 collapse of Washington Mutual, and marks a swift fall from grace for a lender that was valued at greater than $44bn lower than 18 months in the past.
The Federal Deposit Insurance coverage Company, the US…
