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The Latest Breaking News from Silicon Valley Bank

Silicon Valley Bank: FTSE 100 tumbles 2.5%; HSBC rescues SVB UK – as it happened

Silicon Valley Bank UK has been sold to HSBC, in a deal that protects depositors’ money, says Treasury and Bank of England after weekend talks

The Guardian - UK

Silicon Valley Bank: why did it collapse and is this the start of a banking crisis?

Until last Friday Silicon Valley Bank was the 16th largest bank in the US, worth more than $200bn

The Guardian - AU

Regulators to protect SVB, Signature depositors, but no bailout - Roll Call

Federal regulators said Sunday they would protect all Silicon Valley Bank depositors, including those above the deposit insurance limit.

Roll Call

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US banks' collapse not hurting Thailand, govt says

The collapse of Silvergate Bank and Silicon Valley Bank in the United States is unlikely to have any impact on Thailand because Thai banks do not invest in them, according to a government spokeswoman.

Bangkok Post

Banking system is 'safe', Biden assures Americans after SVB collapse

US President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse of Silicon Valley Bank (SVB) and the federal takeover of a second bank.

France 24

US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

Tribune News Service

Signature Bank closed by New York regulators in SVB’s wake

Signature Bank was closed by New York state financial regulators on Sunday as the fallout from last week’s implosion of SVB Financial Group’s Silicon Valley Bank spreads to other lenders.

Tribune News Service

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Biden says those behind SVB bank ‘mess’ will be held accountable

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

Tribune News Service

US, UK try to stem fallout from Silicon Valley Bank collapse

US President Joe Biden says banking regulations must be bolstered amid fallout that has rocked global financial markets.

Al Jazeera

Asian shares mostly sink on jitters after US bank failure

Asian shares have mostly fallen, shaken by a Wall Street tumble that set off worries the biggest U.S. bank failure in nearly 15 years might have ripple effects around the world

The Independent UK

Feds say Silicon Valley Bank clients will get funds as another troubled bank is shuttered

The Treasury, FDIC and Federal Reserve said clients of Silicon Valley Bank would be protected as the agencies sought to find a buyer and stop further bank runs.

Chicago Sun-Times

Signature Bank takeover could leave crypto firms scrambling

The Treasury, Federal Reserve, and FDIC jointly announced that depositors would be made whole.

Fortune

Signature Bank shut by regulators, noting systemic risk

Like Silicon Valley Bank, the firm's depositors will be made whole, officials say.

Axios

Second bank closed as regulators say they will protect Silicon Valley Bank deposits at no cost to taxpayer

Signature Bank of New York shuttered as federal government moves to protect depositors

The Independent UK

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WEKU

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank

Federal officials made the emergency announcement Sunday amid panic from depositors over the state of uninsured deposits.

ABC News

ASX 200 falls, US regulators to protect all Silicon Valley Bank depositors — as it happened

The Australian share market closed lower on Monday, as the fallout from the collapse of startup-focused lender Silicon Valley Bank (SVB) spooked investors. Catch up on the day's market news.

Axios

U.S. regulators will protect all Silicon Valley Bank depositors to stem fallout

Federal banking regulators took aggressive new actions aimed at preventing depositors' funds in failed Silicon Valley Bank from losing money.

Fortune

More than 1,000 VC, PE, and investment firms held capital at SVB in 2022

General Catalyst, Two Sigma, and Andreessen Horowitz all kept some portion of their billions in fund assets at the bank.

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The Independent UK

Biden unlikely to bail out Silicon Valley Bank, as right claims it failed because it was ‘woke’

Second-largest bank collapse in US history met with eyerolls in Washington

Evening Standard

Bank of London confirms bid to rescue Silicon Valley Bank UK

The clearing bank is the first confirmed bidder for the UK arm of the collapsed Silicon Valley Bank

Fortune

After Silicon Valley Bank failure ‘there’s going to be more,’ warns former FDIC Chair William Isaac

“There’s no doubt in my mind," said Isaac. "Seems to me to be a lot like the 1980s.”

WEKU

Janet Yellen says the federal government won't bail out Silicon Valley Bank

The California lender was taken over by regulators after a "run" on the bank. The Treasury secretary says the U.S. won't come to the bank's rescue like it did for others in the 2008 financial crisis.

The Independent UK

AP News Digest 2 p.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

Tribune News Service

US seeks to quell risk of a bank run as Yellen pledges protections

WASHINGTON — U.S. regulators are racing against the clock to find solutions for failed Silicon Valley Bank while Treasury Secretary Janet Yellen said officials are focusing on protecting depositors, as officials seek to avoid a wider bank run.

Birmingham Post

Chancellor 'working ‘at pace’ to help UK tech firms after Silicon Valley Bank collapse

Warning that science and technology firms face 'serious risk'

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