Second Largest Bank Collapse in US History: What Happened to SVB, and What Comes Next?

Second Largest Bank Collapse in US History: What Happened to SVB, and What Comes Next?

California-based commercial lending giant Silicon Valley Bank had its charter revoked and was transferred into receivership on March 10 after a bank run – which occurs when too many clients try to get their money out at once. The collapse sent shockwaves rippling across the financial world. What exactly happened? And what’s next? Sputnik explains.

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