Silicon Valley Bank’s (SVB) failure leads to a shutdown by US regulators in what is deemed the largest banking failure since 2008.  The move came as the SVB, the 16th largest in the US, was reportedly ‘scrambling’ to raise funds to overcome a loss from the sale of assets, in turn, affected by higher interest rates in the country. After this, a rush of customer withdrawals was recorded, speaking fears about the condition of the US banking sector. Officials said that they have acted in the best of interests, to “protect insured depositors”. California Financial Regulator which took over the … Continue reading Silicon Valley Bank crash, FDIC to regulate