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SVB Financial Group Files for Chapter 11 Bankruptcy Protection

March 17, 2023

Silicon Valley Bankโ€™s former parent company filed for bankruptcy a week after a run on deposits prompted regulators to seize its banking unit.

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HSBC acquires British arm of stricken Silicon Valley Bank

March 13, 2023

HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of stricken Silicon Valley Bank for 1 pound, rescuing a key lender for technology start-ups in Britain.

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Joint Statement by Treasury, Federal Reserve, and FDIC

March 13, 2023

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors.

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FDIC Auction for Failed SVB Underway, Final Bids Due Sunday

March 12, 2023

The Federal Deposit Insurance Corp. kicked off an auction process late Saturday for Silicon Valley Bank, with final bids due by Sunday afternoon, according to people familiar with the matter.

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Yellen rules out bailout for Silicon Valley Bank: "We're not going to do that again"

March 12, 2023

Washington โ€” Treasury Secretary Janet Yellen said Sunday that the federal government will not provide a bailout for Silicon Valley Bank's investors after the bank was abruptly shuttered, but said financial regulators are "concerned" about the impact.

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Y Combinator calls on Congress to act on SVB collapse

March 12, 2023

The investor called on Congress to act more decisively to save SVB after it was taken over by regulators on Friday.

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FDIC Named Receiver for Silicon Valley Bank

March 10, 2023

Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

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