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Rise and fall of Silicon Valley Bank: what went wrong? - The Financial Express

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On March 10, 2023, the United States (US) witnessed the second-largest bank failure in its history with Silicon Valley Bank. After the 2007-2008 Great Economic Depression, this is the first time in America that this kind of economic crisis has occurred. This created a global impact and Bangladesh is no different from this. People had withdrawn about USD 42 million in just one day out of fear that the bank would collapse. This was sparked by a letter that Silicon Valley Bank's Chief Executive Officer, Greg Becker, had sent to shareholders on March 9, 2023. The bank had suffered a $1.8 billion loss on the sale of US treasuries and mortgage-backed securities and outlined a plan to ...

thefinancialexpress.com.bd     Apr 02, 2023