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Friday, June 14, 2024

20 banks that are sitting on huge potential securities losses—as was SVB

By Philip van Doorn

Silicon Valley Bank has failed following a run on deposits, after its parent company’s share price crashed a record 60% on Thursday.

Trading of SVB Financial Group’s SIVB, -60.41% stock was halted early Friday, after the shares plunged again in premarket trading. Treasury Secretary Janet Yellen said SVB was one of a few banks she was “monitoring very carefully.” Reaction poured in from several analysts who discussed the bank’s liquidity risk.

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Picture by Silicon Valley Bank – Tempe, Arizona, by Tony Webster, via Flickr.com

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