Friday, 21 March, 2025
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Headline
US bank taken over in biggest failure

US bank taken over in biggest failure

US financial regulators have shut down Silicon Valley Bank (SVB) and taken control of its customer deposits in the largest failure of a US bank since 2008. The moves came as the firm, a key tech lender, was scrambling to raise money to plug a loss from the sale of assets affected by higher interest rates, reports BBC.  Its troubles prompted a rush of customer withdrawals and sparked fears...

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