SVB News

Events like the fall of SVB and fears of a contagion have impacted client sentiments in North America and the banking, financial services and insurance sector in particular, leading to clients deferring spends, the Tata Group company said. 

SVB collapse predicts result in a long funding winter for the Indian startups. Many start-ups at their early and mid-level have been funded by the SVB’s incubation fund like Y-Combinator. Two days after the collapse of the Silicon Valley Bank, another US lender, Signature Bank was shut down on Sunday by the Federal Deposit Insurance Corporation (FDIC).

Before joining fintech Blend, Mayopoulos spent more than six years as the CEO of mortgage financier Fannie Mae.

Industry watchers expect a quick takeover of the bank as it has enough assets that can be liquidated to return money to the clients.

The SVB crisis is the largest bank failure in the US history since the financial crisis of 2008, whose ripple effects have been felt across the world.

The Silicon Valley Bank (SVB) crisis has hit the US and global market badly with billions of dollars have been stranded across the world. The SVB had been shutdown by US authority after the technology-startups bank's stocks plunged drastically after facing liquidity crunch. Earlier, financial crisis grabbled the world's economies, causing wipe out of billions of dollars. Here are some prominent financial crisis of the past. 

Companies such as video game maker Roblox Corp and streaming device maker Roku Inc said they had hundreds of millions of dollars in deposits at the bank. Roku said its deposits with SVB were largely uninsured, sending its shares down 10% in extended trading.

Becker, who served on the board of directors at the Federal Reserve Bank of San Francisco, departed the board effective Friday, a spokesperson for the regional Fed bank said. In January, Becker said the economic outlook was improving after a downbeat 2022.

The Silicon Valley Bank (SVB) was known to be a major source of funding for technology startups when other options like Initial Public Offering (IPO) aren't available amid liquidity crunch.