NEW YORK/SAN FRANCISCO (Financial Times) -- Silicon Valley Bank was shuttered by U.S. regulators on Friday after a rush of deposit outflows and a failed effort to raise new capital called into question the future of the tech-focused lender.
With about $209 billion in assets, SVB has become the second-largest bank failure in U.S. history, after the 2008 collapse of Washington Mutual, and marks a swift fall from grace for a lender that was valued at more than $44 billion less than 18 months ago.
