What Is Silicon Valley Bank and Why Is It Collapsing? ...Middle East

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Silicon Valley Bank, a major lender for tech startups, was shut down Friday by California regulators.SVB was struggling to raise enough funds to offset a nearly $2 billion loss on bond sales. Customers worried that the bank would collapse entirely and rushed to withdraw their funds, further destabilizing it.The California Department of Financial Protection and Innovation swooped in and closed the bank Friday morning, putting the Federal Deposit Insurance Corporation (FDIC) in charge of SVB’s assets. The FDIC announced that SVB’s branches will reopen Monday, and insured customers will be able to access their deposits then. Here is a look at what happened to Silicon Valley Bank.1. What is Sili

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