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The Latest Breaking News from Silicon Valley Bank

Silicon Valley Bank Fails; FDIC Takes Over, Creates New Bank

Silicon Valley Bank was closed by the Federal Deposit Insurance Corp., which launched the Deposit Insurance National Bank of Santa Clara.

The Street

Silicon Valley Bank collapses in second-biggest US bank failure ever

Largest bank collapse in 15 years, since global financial crisis

The Independent UK

SVB cash crunch highlights $620 billion hole in banks’ balance sheets

The spike in interest rates has been devastating for the value of their securities portfolios, meaning many carry around billions in unrealized losses that could pose a problem if funding dries up.

Fortune

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Silicon Valley Bank seized by FDIC as depositors pull cash

The Federal Deposit Insurance Corporation is seizing the assets of Silicon Valley Bank, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis

The Independent UK

Silicon Valley Bank collapses and enters receivership after tech firms pull funds

Silicon Valley Bank has been closed by California regulators after tech firms scrambled to withdraw funds from the business.

Evening Standard

U.S. government takes control of Silicon Valley Bank

This is the largest bank failure since Washington Mutual in 2008.

Axios

Silicon Valley Bank’s parent is reportedly struggling to pull off a fire sale after its stock blew up and it failed to raise capital

“It doesn’t smell good right now, and there’s a lot of panic,” a venture investor who spoke with dozens of SVB clients told Fortune Thursday.

Fortune

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Silicon Valley Bank Becomes the Second-Largest U.S. Bank Failure

Regulators have shut down the California bank, considered the backbone of startups and venture capital firms in Silicon Valley.

The Street

Silicon Valley Bank shares halted as tech firms scramble to withdraw funds

Silicon Valley Bank has been closed by California regulators after tech firms scrambled to withdraw funds from the business.

Evening Standard

SVB Financial Fails, Silicon Valley Bank Closed; Many Bank Stocks Still Reeling

The FDIC said SVB Financial has failed, with Silicon Valley Bank closed by regulators. Bank stocks are falling again Friday, but off lows.

Investors Business Daily

Dow Jones Slides On Strong Jobs Report; Silicon Valley Bank Crashes 66% On Bank Run Fears

The Dow Jones dropped Friday on a strong jobs report. Silicon Valley Bank crashed 66% on growing fears of a bank run.

Investors Business Daily

SVB Stock Halted, Bank Shut Down Amid Multi-Billion Dollar Collapse, Shaking Bond-Laden US Financial Sector

"Even unrealized losses in investment portfolios can have negative effects on liquidity and present funding challenges," the St. Louis Fed warned last month as banks added to Treasury bond holdings.

The Street

VCs describe a big mess as Silicon Valley Bank’s troubles spark panic

Founders are pulling cash from Silicon Valley Bank as fear of a bank run has spread.

Fortune

What happened to Silicon Valley Bank?

Behind the remarkable reversal of fortune for the startup world's bank of choice.

Axios

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The Street

Stocks Extend Slide, Jobs Report On Deck, SVB Collapse, Oracle Mixed, Mind The Gap - Five Things To Know

Stocks extend slide amid bank sector slump; Jobs Report: Workin' for a livin'; SVB needs capital ASAP; Oracle sees more profits and Mind the Gap (Shares).

Fortune

Bill Ackman thinks the government should consider SVB bailout

The founder of Pershing Square Capital Management said the collapse of Silicon Valley Bank "could destroy a long-term driver of the economy."

The Guardian - UK

US adds 311,000 jobs in February; UK economy returns to growth; regulators take over Silicon Valley Bank – as it happened

UK economy has proved ‘more resilient than many expected’ says chancellor Jeremy Hunt, while problems at Silicon Valley Bank knock FTSE 100 down 2%

Fortune

VCs and startup founders are freaking out about Silicon Valley Bank

Startup founders are pulling cash from Silicon Valley Bank, even as some VCs say the panic is overblown and fueling the fire.

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StockNews.com

2 Insanely Expensive Stocks to Avoid in 2023

The recent hawkish comments from Fed chair Powell have increased expectations of more interest rate hikes this year. Economists believe that aggressive rate hikes will eventually lead to a recession. Amid an uncertain macroeconomic backdrop, it could be wise to avoid pricey stocks Take-Two Interactive Software (TTWO) and SVB Financial…

Evening Standard

Silicon Valley Bank creates UK subsidiary in boost for London’s tech sector

The firm said the move reflects the strong growth of tech businesses in the UK

Benzinga

ACHV: First Quarter 2022 Results

By John Vandermosten, CFA NASDAQ:ACHV READ THE FULL ACHV RESEARCH REPORT

Benzinga

Achieve Life Sciences Aces Pivotal Cytisinicline Study In Smoking Cessation

Achieve Life Sciences Inc (NASDAQ:ACHV) has announced positive topline results from the Phase 3 ORCA-2 trial of 3mg cytisinicline for 6-weeks or 12-weeks compared to a placebo in 810 adult smokers. The 6- and 12-week cytisinicline treatments demonstrated significantly better quit rates than placebo, with odds ratios of 8.0 and 6.3, respectively. Subjects…

Benzinga

EyePoint Pharma Secures $45M Credit Facilities For Debt Refinancing

EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) has secured senior secured credit facilities of $45 million from Silicon Valley Bank to replace its existing credit facility with CRG Servicing LLC. Under the terms of the new agreement, a $30 million term loan facility and an asset-based revolving credit facility of up to $15 million will replace the existing approximately…

Benzinga

ACHV: The Final Phase III Begins

By John Vandermosten, CFA NASDAQ:ACHV READ THE FULL ACHV RESEARCH REPORT

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