SVB Financial Group, parent of Silicon Valley Bank seized by the US regulators, files for Chapter 11 bankruptcy.

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Silicon Valley Bank’s parent company filed for bankruptcy after worry spread among its long-established customer base of tech startups, prompting regulators to seize the firm’s banking unit.

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SVB Financial Group listed assets and liabilities of as much as $10 billion each in a Chapter 11 petition filed in New York.

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www.bloomberg.com/news/articles/2023-03-17/svb-financial-group-files-for-chapter-11-bankruptcy-protection?leadSource=uverify%20wall

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