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Business & Economics

Silicon Valley Bank's former parent can pursue $1.93 billion FDIC lawsuit

Reuters
Summary
Nutrition label

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.

VR Score

91

Informative language

97

Neutral language

75

Article tone

formal

Language

English

Language complexity

61

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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