Home / News / World / What happened with Silicon Valley Bank?

Back

What happened with Silicon Valley Bank?

wsj

5 min read . Updated: 15 Mar 2023, 01:11 AM IST The Wall Street Journal

Since the pandemic began, Silicon Valley Bank had been buying lots of what are often considered 'safe' assets like U.S. Treasurys and government-backed mortgage bonds. (AFP) — Since the pandemic began, Silicon Valley Bank had been buying lots of what are often considered 'safe' assets like U.S. Treasurys and government-backed mortgage bonds. (AFP)

Some questions and answers to explain what is happening after the government took action

Last week, Silicon Valley Bank failed and was taken over by regulators. On Sunday, another bank, Signature Bank, was also closed. That day, the government stepped in to protect all of those banks’ deposits and create a way for other banks to get access to more cash.