Silicon Valley Bank (SVB) came under the control of the US regulator FDIC on Friday, which meant that the bank went bankrupt, AFP reported.
This is the largest bank failure since the financial crisis of 2007/2008.
Here are the most popular precedents for retail banks, sorted by asset size.
- HBOS (UK), 17/09/2008 (assets £690 billion or approximately US$811 billion and €762 billion)
- Washington Mutual (United States), 25/09/2008 (US$307 billion, EUR 288 billion)
- Silicon Valley Bank (USA), 03.10.2023 (209 billion dollars, respectively 196 billion euros)
- SachsenLB (Germany), 2007-08-26 (€67 billion, about $92 billion)
- Bradford & Bingley (UK), 29/09/2008 (£35 billion or about US$63 billion, €59 billion)
- IndyMac (United States), 07.11.2008 (32 billion dollars, 30 billion euros)
All these institutions were retail banks available to all individuals.
In addition, the financial crisis was marked by the collapse of several corporate and investment banks, including Lehman Brothers, which declared bankruptcy on September 15, 2008.
Its assets amounted to 639 billion dollars (600 billion euros). (photo: Dreamstime)
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.