Silicon Valley Bank's parent company cut off from bank's records

📆 20/03/2023 06:10:00
📰 Reuters

⏱ Reading Time:
25 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

SVB Financial , the bankrupt parent company of Silicon Valley Bank, has lost access to its financial records after the bank was placed into receivership by the Federal Deposit Insurance Corporation (FDIC), according to court documents filed in Manhattan on Sunday.

of the failed lender.

SVB Financial's court filings listed $19 billion in assets, $2.2 billion in cash and cash equivalents, and $3.4 billion in liabilities. About $15.5 billion of SVB Financial's asset value was attributed to the SVB banking business that was seized by regulators. Those investment funds include direct venture funds that invest in companies, funds-of-funds that invest in other venture capital funds, and debt funds that provide lending and other financing solutions to startups.

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:

Write Comment

the central banks have printed so much money....the American and European economy will no longer be able to save the banks in the world with the money printed...all the banks are going bankrupt..the economy is going into hyperinflation..people don't trust banks anymore.

ProphetElvisMbonye saw the collapse of SVB 3 months before it happened!!! Check it out.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Silicon Valley Bank parent company files for bankruptcySVB Financial Group filed for Chapter 11 bankruptcy days after it was targeted in a class action lawsuit by shareholders. MORE ⬇️
Source: abc15 - 🏆 263. / 63 Read more »