Silicon Valley Bank Parent Lawsuit
This is a news story, published by Yahoo Finance, that relates primarily to Federal Deposit Insurance Corp news.
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former Silicon Valley Bank executivesReuters
•Business
Business & Economics
Silicon Valley Bank's former parent can pursue $1.93 billion FDIC lawsuit
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81% Informative
Federal Deposit Insurance Corp seized $1.93 billion of deposits after Silicon Valley Bank collapsed in March 2023 .
The bank collapsed after rising interest rates caused big losses in its portfolio of long-term government bonds and mortgage-backed securities.
A federal judge says the former parent adequately alleged that the FDIC maintained control over the deposits.
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