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BIG DEFALT AFTER 2008 AMARICA (SVB BANK CRISIS )

 SVB (Silicon Valley Bank):

The SVB collapse was the largest bank seizure since Washington Mutual in the great financial crisis. Regulators took control of the bank at the end of last week and plan to reopen at the beginning of this week to allow FDIC-insured accounts to start withdrawals. Any account over the insured amount of 250K will receive receivership certificates and will need to follow the process to recover some or all of their funds. This created some serious waves in the market as fear started to spread about the bank's insolvency. Stocks started to fall as the fear spread out to the general market, and this could be something to keep an eye on in the coming week(s) as we all see how this continues to unfold and if the collapse materially impacts any of the companies that did business with SVB. 



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