THE DEPARTMENT OF Finance is “monitoring developments regarding the collapse of Silicon Valley Bank”.It had been a key lender to startups across the United States since the 1980s
While the Department of Finance said there is “limited direct impact on the Irish financial system”, a statement from the Department notes that “Silicon Valley Bank was a lender to some Irish companies since 2012”. A statement from ISIF added: “The distributions received by ISIF from these investments since 2012 exceed the amount currently invested.
They don't know that yet. The dominos have just started to fall.