SVB Financial Group Inc’s shutdown and takeover by banking regulators on Friday can be traced to the U.S. Federal Reserve raising interest rates and souring the risk appetite of investors. Here is the sequence of events that led to Silicon Valley Bank’s failure: FEDERAL RESERVE RAISES RATES The Federal Reserve has been raising interest rates […]
Silicon Valley Bank
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal […]
In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular collapse of the startup-focused lender, […]
A dramatic sell-off in U.S. bank stocks spilled over into Europe on Friday, as some of the region’s biggest banks saw their shares tumble in their largest decline in nine months. Europe’s STOXX banking index fell more than 4% and was set for its biggest one-day slide since early June, with declines for most major […]