Mar 13, 2023 · To protect depositors, the FDIC transferred all the deposits and substantially all of the assets of Silicon Valley Bank to Silicon Valley Bridge Bank, National Association (N.A.), a full-service bank that was operated by the FDIC.

Mar 13, 2023 · WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon ...

Jan 23, 2025 · SVB had expanded into banking and financing for venture capital, adding products and services to maintain clients as they matured from their start-up phase. SVB had assets of about $209 billion and about $175 billion in total deposits at the end of fiscal year 2022. The California Department of Financial Protection and Innovation served as SVB ...

Dec 17, 2024 · The FDIC Board of Directors is today considering a request for authority to sue six former officers and eleven former directors of Silicon Valley Bank (SVB or Bank).

Jan 23, 2025 · FDIC and the Federal Reserve established six bases (see figure) to support their recommendations to invoke the exception for Silicon Valley Bank and Signature Bank, which failed in March 2023. The two regulators coordinated to gather information from market participants and corporate firms. They also analyzed financial markets and economic ...

Jan 16, 2025 · The FDIC on Thursday sued 17 former executives and directors of Silicon Valley Bank, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary duty that caused ...

Jan 17, 2025 · The FDIC sued 17 former executives and directors of Silicon Valley Bank on Thursday, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary duty that caused ...

Mar 12, 2023 · Silicon Valley Bank, the 16th largest bank in the country, failed on Friday and was taken over by the FDIC, after a run on the bank Wednesday and customers withdrew $42 billion of deposits by the end of Thursday. SVB mostly served technology workers and startups, including some of Silicon Valley's biggest names, such as Roku.

Jan 17, 2025 · The FDIC complaint comes nearly two years after SVB's failure, the third-largest bank failure in U.S. history. SVB’s total assets more than tripled in three years – growing from less than $60 billion at the end of 2019 to $209 billion at the end of 2022.

Mar 10, 2023 · According to press releases from regulators, the California Department of Financial Protection and Innovation closed SVB and named the FDIC as the receiver. The …