The parent of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protection.
SVB Financial Group is no longer affiliated with Silicon Valley Bank after its seizure by the Federal Deposit Insurance Corp. Its collapse was the second biggest bank failure in U.S. history after the demise of Washington Mutual in 2008.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: