The largest US bank declared bankruptcy (3 photos + 2 videos)

It took literally two days and one unsuccessful operation with securities so that one of the country's largest banks officially went to the financial bottom.





Silicon Valley Bank (SVB), one of the 20 largest banks of America, was the main lender of technical and medical startups in California. Even at the beginning of the week, nothing foreshadowed trouble, and industry analysts considered the company reliable and offered investment. And literally at the beginning of March it was even called the bank of the year.

Silicone Valley Bank was ranked 18th in terms of assets (over $200 billion) among all American banks. Deposits are $170 billion, but at the same time 87% of the deposits in this bank were not insured.



And now all this splendor collapsed almost overnight like a house of cards. Failed securities transaction, issuance additional shares to offset losses, limit withdrawals, and literally two days later, the California Department of Financial Protection and Innovations declares bankruptcy of SVB. The bank is currently under Office of the Federal Deposit Insurance Commission.

This event automatically led to the collapse of the USDC stablecoin cryptocurrency.



This bankruptcy is already called the most serious in the US since 2008 year, when the financial crisis thoroughly battered many banks and companies.

Investors still do not lose hope to withdraw at least some part of their savings, standing in lines at the closed branches of the bank, they scold what the light is on the Biden administration. Well, they already found it on the net Another prophecy from South Park.

American analysts seriously fear that another bank First Republic Bank may one of these days declare bankruptcy. Already yesterday its shares are down more than 50%, and by the looks of it, this is not the end history, so we continue to monitor.