FDIC may make some uninsured Silicon Valley Bank deposits available Monday

SANTA CLARA, CALIFORNIA – MARCH 10: A sign is posted in front of the Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit Insurance Corporation. Prior to being shut down by regulators, shares of SVB were halted Friday morning after falling more than 60% in premarket trading following a 60% declined on Thursday when the bank sold off a portfolio of US Treasuries and $1.75 billion in shares to cover declining customer deposits. (Photo by Justin Sullivan/Getty Images)

→ Continue reading at Mercury News

More from author

Related posts

Advertisment

Latest posts

GM pauses sales of Chevy Blazer EV over software issues | CNN Business

New York CNN  —  GM has paused sales of its brand new Chevy Blazer EVs after some customers reported...

Crypto’s 2023 was marred by fraud and scandal. It was its best year ever | CNN Business

New York CNN  —  Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling....

The Tantalizing Mystery of the Solar System’s Hidden Oceans

The original version of this story appeared in Quanta Magazine.For most of humankind’s existence, Earth was the only known ocean-draped world, seemingly unlike any...