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Megan Henderson 3/31/23 Megan Henderson 3/31/23

Silicon Valley Bank Collapses After Run on Deposits

U.S. commercial bank Silicon Valley Bank (SVB) collapsed on March 10, 2023, resulting in the second-largest bank failure in national history and the largest since the 2008 financial crisis. California banking regulators took control of SVB and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.