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The Latest Breaking News from Silicon Valley

FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune

Silicon Valley Bank collapse: What you need to know

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe

The Independent UK

Relief in the UK over Silicon Valley Bank. Panic in the US

Sale of SVB’s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy halo

The Guardian - UK

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Why did Silicon Valley Bank collapse? And how did HSBC rescue its UK arm?

A weekend of high political drama ends in a rescue deal that leaves fast-growing sector safe in the City

Evening Standard

Trump blamed over Silicon Valley Bank collapse for watering down financial regulations

Fifty Republican and 17 Democratic senators voted to reduce regulations on the bank

The Independent UK

Federal agencies are saving Silicon Valley, but tech may never be the same

Silicon Valley Bank depositors will be made whole, but startups are losing a key player in the ecosystem.

Fortune

US, UK Try to Stem Fallout from Silicon Valley Bank Collapse

Governments in the UK and US took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon…

Asharq Al-Awsat

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France says no risk of contagion as governments handle SVB collapse fallout

The bankruptcies of US banks Silicon Valley Bank (SVB) and Signature do not pose a danger to French financial institutions, Finance Minister Bruno Le Maire said Monday as authorities in the US and UK took extraordinary steps to stop a potential banking crisis.

France 24

‘My wife was in tears’: tech firms breathe sigh of relief after HSBC saves Silicon Valley Bank UK

‘These companies were on the precipice. If SVB had gone insolvent it would have been utter chaos.’

Evening Standard

HSBC to buy Silicon Valley Bank UK after weekend of crisis talks

Chancellor Jeremy Hunt said deposits will be protected

The Independent 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

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, 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

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

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The Independent UK

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

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

The Independent UK

Can the chaos from Silicon Valley Bank's fall be contained?

Can Washington come to the rescue of Silicon Valley Bank's depositors

The Guardian - UK

UK racing to secure deal to protect firms from Silicon Valley Bank collapse

Rishi Sunak and Jeremy Hunt explore options to help tech and life sciences sectors

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Asharq Al-Awsat

One of Silicon Valley's Top Banks Fails; Assets are Seized

Regulators rushed Friday to seize the assets of one of Silicon Valley's top banks, marking the largest failure of a US financial institution since the height of the financial crisis almost 15 years ago. Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this week…

The Independent UK

From wine country to London, bank's failure shakes worldwide

It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world

Tribune News Service

From Santa Clara to Shoreditch, SVB fallout spreads around world

The fallout from the collapse of Silicon Valley Bank is beginning to spread around the world.

The Independent UK

Trump blamed over Silicon Valley Bank collapse for watering down financial regulations

Fifty Republican and 17 Democratic senators voted to reduce regulations on the bank

Fortune

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

The Guardian - UK

Government to meet tech firms following collapse of Silicon Valley Bank UK

Industry leaders expected to call for state intervention to avoid failure of hundreds of UK firms

The Independent UK

A major bank failed. Here’s why it’s not 2008 again

The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking — a bank run — which led to its failure on Friday

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