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Silicon Valley Bank (SVB) announced on March 8 that it lost $1.8 billion in the sale of U.S. treasuries and mortgage-backed securities it had invested in, owing to rising interest rates. Just two days later, the Santa Clara-headquartered bank was closed by regulators, according to the U.S. Federal Deposit Insurance Corporation. The SVB's failure is the largest bank failure since the collapse of U.S. savings and loan association Washington Mutual in 2008, The Associated Press reported. So how did the 16th largest bank in the U.S. collapse in just 48 hours?
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466