SVB Financial Group (SIVB)

Silicon Valley Bank's former owner has gotten a judge's permission to end its bankruptcy. As Reuters reported Saturday (Aug. 3), SVB Financial Group has been given leave to turn over its assets to its creditors, bringing its bankruptcy to a close.

After the collapse of Silicon Valley Bank NASDAQ: SIVB a few months ago, regional and larger banks across the United States saw their stocks decline as a systematic reaction to the news. As is a typical procedure, the larger banks responsible for a more significant share of the American consumer's deposits are going through periodic stress tests, whose results have been long awaited by investors to justify moving past perceived risks.

To some, the question of where to keep your money safe might seem obvious — go with one of the big guys, the banks that have been deemed "too big to fail." Their ATMs and branches are ubiquitous, their mobile apps sleek and user-friendly.

Despite the looming debt ceiling crisis that has taken center stage in Washington in recent weeks, lawmakers haven't forgotten about the other financial crisis this year: the March bank failures that set off turmoil in the regional banking sector.

SVB Financial Group will be unable to meet the U.S. Securities and Exchange Commission's deadline for its quarterly report for the three months ended March 31, the bankrupt parent of Silicon Valley Bank disclosed in a filing on Tuesday.

SVB Financial Group, the onetime parent of Silicon Valley Bank, and Signature Bank will be delisted from the Nasdaq, the Nasdaq Stock Market announced on Friday, following the failure of both banks and the trading suspension of their shares last month. Richard Branson's Virgin Orbit Holdings Inc., a developer of satellite launch systems, will also be delisted, after the company filed for Chapter 11 bankruptcy this month.

Silicon Valley Bank's former owner may need to take out a bankruptcy loan amid uncertainty about the U.S. Federal Deposit Insurance Company's seizure of $2 billion in cash from the company, its attorney said Wednesday.

SVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last month, announced that two of its top executives have left their jobs.

SVB Financial Group CEO Gregory Becker and financial chief Daniel Beck resigned this week, the collapsed lender said in a regulatory filing on Friday.

The Treasury Department's FSOC released proposals that would increase transparency of its operations and make it easier to supervise certain institutions.

Anne Glover, CEO and co-founder of Amadeus Capital, said Friday that the SVB crisis was caused by "utterly irresponsible" practices by Silicon Valley Bank.

U.S. Federal Reserve may close a loophole that allows some midsize banks to conceal losses on securities they hold, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Potential change would reverse regulators' 2019 decision to loosen the rules for midsize banks.

The collapse of Silicon Valley Bank (SVB) disproportionately affected regional banks, as its over-the-weekend failure last month spurred a deposit flight to the presumed safety of “too big to fail” lenders like J.P. Morgan, Bank of America and other financial giants.

Lending declined after the failure of Silicon Valley Bank and businesses hired fewer people in the early spring, a Federal Reserve survey found, but inflation “appeared to be slowing” and the economy continued to grow at a modest pace.

NEW YORK, April 18, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of SVB Financial Group (“SVB” or the “Company”) (NASDAQ: SIVB). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980. The investigation concerns whether SVB and certain of its officers and/or directors have engaged in securities fraud or other […]...