{"id":1874341,"date":"2023-03-10T18:12:51","date_gmt":"2023-03-10T23:12:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/silicon-valley-bank-what-was-it-and-why-did-it-fail\/"},"modified":"2023-03-10T18:13:23","modified_gmt":"2023-03-10T23:13:23","slug":"silicon-valley-bank-what-was-it-and-why-did-it-fail","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/silicon-valley-bank-what-was-it-and-why-did-it-fail\/","title":{"rendered":"Silicon Valley Bank: What was it and why did it fail?"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsilicon-valley-bank-what-was-it-and-why-did-it-fail%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1874341&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78476531\" class=\"brid\" style=\"width:16; height:9;\" itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\">                <meta itemprop=\"name\" content=\"Tucker Carlson's Jan. 6 footage creates legal headache for DOJ prosecutions\">               <meta itemprop=\"description\" content=\"The release of new tapes from the Jan. 6 Capitol riot on Tucker Carlson's Fox News show could create a major legal headache for the Department of Justice's handling of cases against hundreds of defendants, according to legal experts. Since Carlson's debut of the footage, several other riot defendants who have yet to face a final judgment over their criminal cases have requested a delay in their trial in order to review the footage released from McCarthy that he said would be made available to all defendants.\">               <meta itemprop=\"duration\" content=\"PT1M35S\">               <meta itemprop=\"uploadDate\" content=\"2023-03-10 19:17:37\">               <meta itemprop=\"thumbnailURL\" content=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/03\/localimages\/1260458_th_1678476530.jpg640bb97367cb8.jpg\">               <meta itemprop=\"contentUrl\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/sd\/1260458.mp4\">              <\/div>\n<p>               <script type=\"text\/javascript\"> var _bp=_bp||[]; _bp.push({ \"div\": \"Brid_78476531\", \"obj\": {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1260458\"} }); <\/script>               <script type=\"text\/javascript\" async src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>              <\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">T<\/span>He <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/fdic\" target=\"_blank\" rel=\"noopener\">Federal Deposit Insurance Corporation<\/a> Friday, they announced that they had <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/silicon-valley-bank-fails\">California-based Silicon Valley Bank has been closed<\/a>The 16th largest federally insured bank in the nation is. <\/p>\n<p>All of its assets were moved to the new Deposit Insurance National Bank of Santa Clara. SVB had 17 branches in California and Massachusetts before the closing. The bank had approximately $209 billion in total assets at the end of last year and $175.4 billion total deposits. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/silicon-valley-bank-fails\" target=\"_blank\" rel=\"noopener\">REGULATORS BANK SILICON VALLEY BANK DOWN IN MOST NOTABLE FAILURES SINCE 2008 CRISIS<\/a><\/b> <\/p>\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<figure class=\"Figure mb-1 mb-sm-3 mb-md-1 article-lead-photo data_invisible\" data-align=\"center\" data-image-size=\"fixed\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\">\n<div class=\"Figure-container\"> <picture><source media=\"(max-width: 768px)\" type=\"image\/webp\" width=\"767\" height=\"511\" data-image-size=\"1060x600_md\"><\/source><source media=\"(max-width: 768px)\" width=\"767\" height=\"511\" data-image-size=\"1060x600_md\"><\/source><source media=\"(max-width: 1440px)\" type=\"image\/webp\" width=\"645\" height=\"430\" data-image-size=\"1060x600_xl\"><\/source><source media=\"(max-width: 1440px)\" width=\"645\" height=\"430\" data-image-size=\"1060x600_xl\"><\/source><source type=\"image\/webp\" width=\"1060\" height=\"707\" data-image-size=\"1060x600\"><\/source><source width=\"1060\" height=\"707\" data-image-size=\"1060x600\"><\/source>                                 <\/picture><figcaption class=\"Figure-caption\" itemprop=\"caption\"> After leaving Silicon Valley Bank Santa Clara, Calif. on Friday March 10, 2023, a Brinks worker walks towards a truck.                <\/figcaption><div class=\"Figure-credit\" itemprop=\"author\"> Jeff Chiu\/AP                <\/div>\n<\/p><\/div>\n<\/figure><\/div>\n<\/p><\/div>\n<p>SVB&#8217;s collapse is the largest bank failure since the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/2008-financial-crisis\" target=\"_blank\" rel=\"noopener\">2008 financial crisis<\/a>This is notable, as it was performing well until very recently. <\/p>\n<p><b>What was Silicon Valley Bank?<\/b> <\/p>\n<p>SVB was a bank that only had venture capital firms and startups as clients. Due to major cash deposits from booming companies, SVB was able to achieve financial stardom during COVID-19. Its deposits grew from $60 billion in quarter one 2020 to more than $200 Billion in the third quarter 2022. <i>Wall Street Journal<\/i> <a class=\"Link\" href=\"https:\/\/www.wsj.com\/articles\/silicon-valley-bank-svb-financial-what-is-happening-299e9b65?mod=article_inline\">reported<\/a>. Its securities portfolio increased from approximately $27 billion during 2020&#8217;s first trimestre to around $127 billion by the end of 2021. <\/p>\n<p>The fact that most of SVB&#8217;s assets were seemingly secure \u2014 they were mainly longer-term government bonds \u2014 led many investors to feel the bank was secure. In just two days, those feelings would be shattered. The bank abruptly announced Wednesday that it needed more than $2.2 billion to fund its business, sending its stock plummeting more than 60% in just a few days. <\/p>\n<p><b>What caused the bank to fail?<\/b> <\/p>\n<p>The government se<\/p>\n<\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read More from&#8221; <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/silicon-valley-bank-failing\">Silicon Valley Bank: What happened to it?<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>THe Federal Deposit Insurance Corporation Friday, they announced that they had California-based Silicon Valley Bank has been closedThe 16th largest federally insured bank in the nation is. All of its assets were moved to the new Deposit Insurance National Bank of Santa Clara. SVB had 17 branches in California and Massachusetts before the closing. The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1896944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[5373,10875,8107,8109],"class_list":["post-1874341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-bank","tag-fail","tag-silicon","tag-valley"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1874341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1874341"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1874341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1896944"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1874341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1874341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1874341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}