SVB Financial, Silicon Valley Bank Parent, Files For Bankruptcy Protection
PUBLISHED ON: March 17, 2023 | Duration: 5 min, 14 sec
The parent firm of US lender Silicon Valley Bank has filed for bankruptcy, nearly a week after US authorities swooped in and seized the bank's assets following a run on deposits, which made it no longer tenable for the medium-sized bank to stay afloat on its own.
