The listing of US-based Silicon Valley Bank Financial (SIVB.US) has been halted following a decision by California regulator FDIC to suspend its operations. This is the first such acquisition by the FDIC this year.
SVB was the 18th largest bank in the U.S., with $212 billion in assets of which $120 billion were securities of various types. Losses from its bond portfolio amounted to nearly $16 billion at a time when the bank's total equity was $15.8 billion.
SVB was mainly involved in financing the technology sector, venture capital and private equity firms operating in the new technology market. Its closure could bring considerable turmoil not only to the banking sector but also to the startup market and companies in need of external financing.
Unrealized losses on the bank's bond portfolio increased after the Fed raised interest rates in 2022. Source: ZeroHedge
Silicon Valley Bank (SIVB.US) shares, D1 interval. Source: xStation5
Alibaba sell-off extends amid White House national security concerns📌
US Earnings Season Summary 🗽What the Latest FactSet Data Shows
US Open: US100 initiates rebound attempt 🗽Micron shares near ATH📈
Micron Surges on Record DRAM Pricing
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
