Fallout from Silicon Valley Bank collapse to dominate Capitol Hill ...Middle East

The collapse of Silicon Valley Bank (SVB) is likely to dominate chatter on Capitol Hill this week, as lawmakers look to learn more about the bank failure and regulators seek to calm the banking industry. Regulators shut down Silicon Valley Bank on Friday after the institution saw a significant run amid liquidity issues, marking the largest bank failure since the 2008 recession and the second-largest in U.S. history. But on Sunday — after a weekend marked by concerns regarding the banking industry — top financial officials announced that SVB depositors will have access to all their funds starting Monday, a fix to calm markets ahead of this week’s opening bells. No such assurances were

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Last updated : 13 March 2023 clock 12:13 PM

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Fallout from Silicon Valley Bank collapse to dominate Capitol Hill ...Middle East

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