US seizes assets from Silicon Valley bank due to bankruptcy

Silicon Valley Bank bankruptcy

NEW YORK — The United States seized the assets of  Silicon Valley bank on Friday after a run on its banks, the nation's biggest bankruptcy since Washington Mutual in the midst of the financial crisis more than a decade ago.

Silicon Valley, the 16th largest bank in the United States, collapsed after depositors, mostly tech workers and venture capital-backed companies, rushed to withdraw their money this week as anxiety spread across the states. bank financiers. It is the second largest bank failure in US history, behind Washington Mutual.

Silicon Valley was heavily exposed to the tech industry, and there is little chance of contagion in the banking sector similar to the chaos of the months leading up to the Great Recession more than a decade ago. The largest banks—the ones most likely to cause systemic economic trouble—have sound financial statements and abundant capital.

There has been malaise in the banking sector all week, and the collapse of the Silicon Valley bank sent shares of almost all financial institutions lower on Friday, stocks that had already fallen double digits since Monday.

movierulz Overview

As per the Copyright Act, doing piracy of the copyrighted content is punishable. We do not recommend using such piracy websites. Through our page, we intend the users about the piracy and recommend them to avoid using piracy websites. There are many legal websites to stream movies like Netflix, Disney+Hotstar, Amazon Prime Video, ZEE5, and much more.

Page Tags :

movierulz, movie-rulz, telugu, 4movierulz, movierulz telugu, movierulz tv, movierulz download, movierulz telugu movies, movierulz 2022, movierulz kannada, movierulz in, movierulz telugu movie, movierulz telugu 2022, new movierulz, movierulz in telugu, movierulz pc, movierulz 1234, movierulz bc, movierulz.hp kannada, moviezwap org, movierulz dvd, movierulz tv kannada, movie roles telugu,, 7 movierulz plz, movie roles,, movierulz wap, movierulz app

This website or its third party tools use cookies. cookie policy. By tapping on "I accept" you agree to the use of cookies.