Silicon Valley Bank Becomes First FDIC-Insured Institution to Fail in 2023
[vc_row][vc_column][vc_column_text]On Friday, March 10, 2023, the Federal Deposit Insurance Corp (FDIC) closed down Silicon Valley Bank, the California-based subsidiary of SVB Financial Group. This marks the first FDIC-insured institution to fail in 2023, and the largest bank failure since the 2008 financial crisis. The closure was necessary to protect insured depositors, and all of Silicon […]
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