2min chapter

Down to Business English cover image

The Silicon Valley Bank Collapse

Down to Business English

CHAPTER

Silicon Valley Bank's Collapse

Federal regulators entered SVB at noon on Friday and shut down the whole operation two days later. As an FDIC-insured lender, anyone who banked with SVB had their money guaranteed by the federal government. "This was a classic run on the bank with a modern high-tech twist"

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