Parent Company Of Silicon Valley Bank Explores Bankruptcy

Parent Company Of Silicon Valley Bank Explores Bankruptcy

SVB Financial Group, the parent company of now-defunct Silicon Valley Bank, is considering bankruptcy as a possible mechanism to sell its other assets, according to a Wednesday report from Reuters.

Silicon Valley Bank, one of the largest financial institutions in the United States, collapsed last week as depositors rushed to withdraw their funds. The firm had discharged assets at a loss from a portfolio containing long-term government and corporate bonds to supply depositors with their funds before the Federal Deposit Insurance Corporation assumed control of the company.

Sources familiar with the matter told Reuters that SVB Financial Group could seek bankruptcy protections while attempting to sell SVB Securities, an investment bank subsidiary, and SVB Capital, an investment management and venture capital subsidiary. Silicon Valley Bank was a

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