Silicon Valley Bank's collapse was sandwiched between the implosions of crypto-friendly banks Silvergate and Signature Bank. While not as focused on crypto, SVB did have some high-profile crypto clients like circle and Ripple.
SVB Financial said it has around $2.2 billion in liquidity, about $3.3 billion in bond debt and $3.7 billion of preferred equity outstanding.
The company also specified that SVB Capital and SVB Securities, respectively its venture capital and broker-dealer arms, are not included in the bankruptcy filing.Adds additional detail on SIVB's financials and background on collapse of Silicon Valley Bank.Adds the SVB Financial is Silicon Valley Bank's former parent company in headline, first paragraph; adds that SVB Capital and SVB Securities are not included in the bankruptcy.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Easy Loans, Great Service: Why Silicon Valley Loved Silicon Valley BankSilicon Valley Bank used financial sweeteners to attract clients, powering growth for decades—leaving the sector vulnerable when the bank collapsed
Read more »
Silicon Valley Bank's former parent company has filed for bankruptcy protection | CNN BusinessSVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last week, has filed for Chapter 11 bankruptcy protection.
Read more »
Former parent company of federally-seized Silicon Valley Bank seeks bankruptcy protectionBREAKING: The parent company of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protections.
Read more »
Report: Shanghai Bank Mulls Buying Silicon Valley Bank's Stake in Chinese Subsidiary – Featured Bitcoin NewsBritish authorities have lauded HSBC's acquisition of the UK subsidiary of SVB for £1 ($1.22), which supposedly protects depositors without using taxpayers’ money. hsbc
Read more »
Opinion | After Silicon Valley Bank, scrap the bank deposit insurance limitThe time has come for Congress to scrap the $250,000 cap on deposit insurance coverage and charge banks more for operating a government-backed deposit business.
Read more »
Credit Suisse, Citi and more bank stocks tumble amid Silicon Valley Bank turmoilBank stocks in the U.S. and Europe are tumbling as the global financial system continues to reckon with the Silicon Valley Bank collapse—the largest bank failure since 2008.
Read more »