Silicon Valley Bank collapses in biggest bank failure since Great Recession

Silicon Valley Bank, the 16th largest bank in the United States, is shut down. With $175 billion in deposits, it is the biggest American bank to fail since the 2008 financial crisis. CNBC’s Deirdre Bosa reports.

Connect with NBC News Online!

#SiliconValleyBank #Finance #NBCNews

[emilytiana]

Silicon Valley Bank (SVB) was the 16th largest bank in the US, and it wasn't subject to the most strict controls. How many banks actually are subject to those controls, besides the big four? Any bank could suffer a run and fail, and if that happens to a community level or even state level bank it probably won't upset the national economy or ecosystem of banks, but any multi-state bank should be more closely watched.

[boomer]

That woman with the 10 million in there, If I had 10 million I wouldn't have it all in just one bank.

[patriciacarlos]

After a horrendous 2022, shell-stunned financial backers have misfortunes to recover and a lot to consider, as an expansion report and a pile of different information did close to nothing to change assumptions that the Central bank would probably keep climbing interest rates regardless of whether the economy dials back, And that implies more red ink for portfolios for the principal quarter of year 2023. How might I benefit from the ongoing unstable market, I'm currently at a junction choosing if to exchange my $250k security/stock portfolio

[joeyharper]

All the people that constantly criticized others for "Not trusting banks" must be feeling pretty stupid right about now. Clearly haven't learned from history with the great depression.

[blacktaro]

"How much concern is there about the banking sector overall?"
"I don't know, I just read the prompter"

[Denka_]

THIS IS THE REASON FOR CASH. If anyone is STILL thinking we need digital only.

[hamfistsman]

Here we go....we didn't learn anything.

[teddykayy]

Anyone putting their money into something called silicon valley bank probably does deserve to lose some of it

[absolutepowerchannel]

Is it me or does the world really seem unsustainable?

[ricnyc]

Hang in there! Do not dispair! Help is on the way to Ukraine!

[agentonyx]

Why are people surprised by the $250k cap? That’s why you get more than one bank account if you’ve got over $250k. I’ve never had the “problem” of having millions of dollars but I’ve known about the cap since high school.

[i.]

never ever put more than 250000 in a bank people

[The_Stockfather]

That was out of nowhere. $250 billion, bank collapsed within a day or two of me ever hearing there was a problem with the banks.

[The_Forever_Soldier]

SVB is just the beginning. The other major banks are also sitting on massive unrealized losses, just like SVB and Yellen said she is watching these banks very carefully right now, without naming them. This could cause bank runs soon.

[Adroit]

Seems all these "smart" people aren't really that smart....

[erniewinn]

The U.S. economy is collapsing. This is reminiscent of 1929. We are headed off a financial cliff that will be worst than the Great Depression.

[Shining]

This is the SPARK of something much BIGGER 🔥🔥🔥

[sophiaelayne]

People is "your house in order"? This is bigger than banks. Better get right.

[Noneofyourbizniz]

This is what happens when banks and markets gamble with y’all money. Free market, right?

[knutjobgoblin]

8 figures in the bank, no give me a break! Whoever wrote the script for this, you are a riot! 😂