The parent company of failed Silicon Valley Bank cannot access about $2 billion in its deposits to the bank because the company's accounts were frozen by...
The parent company of failed Silicon Valley Bank cannot access about $2 billion in its deposits to the bank because the company’s accounts were frozen by federal regulators, according to a new report late Tuesday.
SVB... The parent company of failed Silicon Valley Bank cannot access about $2 billion in its deposits to the bank because the company’s accounts were frozen by federal regulators, according to a new report late Tuesday. SVB Financial’s lawyers also claimed the FDIC has stopped communicating with the company, and that regulators have directed the bridge bank to claw back some transfers SVB Financial made to other accounts.Other depositors in Silicon Valley Bank have been able to access their accounts, and federal regulators promised March 12 that “depositors will have access to all of their money.”
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SVB parent accuses FDIC of cutting it off from cashSVB Financial Group said Tuesday the Federal Deposit Insurance Corporation had taken “improper actions” to cut it off from cash held at its former subsidiary Silicon Valley Ba…
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