Silicon Valley Bank depositors, investors tried to pull $42 billion Thursday

Silicon Valley Bank depositors, investors tried to pull $42 billion Thursday

The order shines light on the scale of the bank run faced by the lender, which was placed into Federal Deposit Insurance Corp. receivership by the state regulator.

SVB depositors, investors tried to pull $42 billion Thursday

​The bank had a negative cash balance of $958 million at the close of business on March 9

SVB depositors, investors tried to pull $42 billion Thursday

The Silicon Valley Bank was put into a Federal Deposit Insurance Corporation receivership on Friday.

SVB Depositors, Investors Tried to Pull $42 Billion Thursday

Investors and depositors tried to pull $42 billion from Silicon Valley Bank on Thursday in one of the biggest US bank runs in more than a decade, according to a Friday regulatory filing.

SVB depositors, investors tried to pull $42 bn on Thursday amid jitters

At the close of business on March 9, the bank had a negative cash balance of $958 million, according to an order taking possession of the bank filed Friday by California's bank regulator

Customers tried to withdraw $42 billion from Silicon Valley Bank

Investors and depositors tried to withdraw $42 billion from the overturned US Silicon Valley Bank on Thursday alone. The US Silicon Valley Bank (SVB) - mainly active as a banker for tech companies - got into trouble last week and was closed by the authorities on Friday. The federal government service FDIC, which provides insurance for customers, has been appointed administrator.